When a generic quantum system is prepared in a simple initial condition, it typically equilibrates toward a state that can be described by a thermal ensemble. A known exception is localized systems that are non-ergodic and do not thermalize; however, local observables are still believed to become stationary. Here we demonstrate that this general picture is incomplete by constructing product states that feature periodic high-fidelity revivals of the full wavefunction and local observables that oscillate indefinitely. The system neither equilibrates nor thermalizes. This is analogous to the phenomenon of weak ergodicity breaking due to many-body scars and challenges aspects of the current phenomenology of many-body localization, such as the logarithmic growth of the entanglement entropy. To support our claim, we combine analytic arguments with large-scale tensor network numerics for the disordered Heisenberg chain. Our results hold for arbitrarily long times in chains of 160 sites up to machine precision.