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August 18, 2022
BJ’s Keeps Momentum Going in Q2
Posted In: Retail Articles

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In the second quarter, BJ’s Wholesale Club kept on making significant sales and earnings gains as it continued to add members.

Net income was $141 million, or $1.03 per diluted share, versus $111, or 80 cents per diluted share, in the 2021 quarter, the company stated. Adjusted net income was $144.3 million, or $1.06 per diluted share, $113.3, or 82 cents per diluted share, in the year-before period.

A Yahoo Finance-published analyst consensus estimate called for earnings per share of 80 cents and sales of $4.64 billion.

With the impact of gasoline sales excluded, comparable sales increased by 7.6% versus the 2021 quarter. Net sales were $5.01 billion versus $4.09 billion in the year-past period. Operating income was $202.9 million versus $163.8 million in the year-earlier quarter.

“Our strong results in the second quarter were led by gains in traffic and market share as we continued to deliver tremendous value across virtually every aspect of our business,” said Bob Eddy, BJs president and CEO. “Our relentless focus on investing in our long-term initiatives has put us in a place to capitalize on current trends and deliver this strong performance. Our member base is growing in both quality and size. We are improving our merchandising to offer more value. We are growing our digital business, offering more convenience and optionality for our members. We are expanding our footprint into new and existing markets with success. Our business model is designed to work well in the current consumer environment where value is king and we believe we are well-positioned for growth by doing what we do best – delivering great value to our members.”

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