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Top line likely solid at Sam’s Club in 2Q
Little reason to believe Sam’s Club won’t easily meet or possibly exceed second-quarter same-store guidance that calls for an increase of 3% to 5%, following reports this week from Costco and BJ’s Wholesale club. Sam’s results correlate closely to its warehouse club rivals, and they both reported solid gains even after excluding the distorting effect of higher year-over-year gas prices.