BJ’s earnings, revenue top Street in Q4
BJ’s Wholesale Club Holdings beat Wall Street estimates with its fourth quarter earnings performance.
BJ’s reported adjusted earnings per share (EPS) of 44 cents per share during the fourth quarter of fiscal 2018, up 22% from 36 cents per share the same quarter the prior year. Wall Street analysts had expected flat adjusted EPS performance. Adjusted net income rose 23% to $62.1 million from $50.6 million.
Net sales fell 4% to $3.42 billion, from $3.55 billion. This result also exceeded expectations of Wall Street analysts, who had projected net sales of $3.39 billion. Excluding gasoline, same-store sales increased 2.9%.
Without adjustment, net income fell 4% to $64.3 billion from $66.7 billion. EPS dropped 35% to 46 cents per share from 71 cents per share. An additional week in the fourth quarter of fiscal 2017 affected revenue and income results.
“We’re pleased with our fourth quarter and full year performance, which exceeded our expectations for sales and earnings,” said Christopher J. Baldwin, chairman and CEO, BJ’s Wholesale Club. “We ended the year with all-time high renewal rates and membership fee income. We delivered strong fourth quarter merchandise comp sales, supported by a successful holiday season and continued momentum through January. Looking ahead, we intend to continue to invest in our strategic priorities and look forward to driving further improvement in our business in 2019 and beyond.”
During fiscal year 2019, BJ’s expects net sales of $12.9 - $13.2 billion and net income of $200 - $212 million, with EPS of $1.42 to $1.50 per share. Wall Street analysts had forecast 2019 net sales of $13.3 billion and EPS of $1.47.
BJ’s reported adjusted earnings per share (EPS) of 44 cents per share during the fourth quarter of fiscal 2018, up 22% from 36 cents per share the same quarter the prior year. Wall Street analysts had expected flat adjusted EPS performance. Adjusted net income rose 23% to $62.1 million from $50.6 million.
Net sales fell 4% to $3.42 billion, from $3.55 billion. This result also exceeded expectations of Wall Street analysts, who had projected net sales of $3.39 billion. Excluding gasoline, same-store sales increased 2.9%.
Without adjustment, net income fell 4% to $64.3 billion from $66.7 billion. EPS dropped 35% to 46 cents per share from 71 cents per share. An additional week in the fourth quarter of fiscal 2017 affected revenue and income results.
“We’re pleased with our fourth quarter and full year performance, which exceeded our expectations for sales and earnings,” said Christopher J. Baldwin, chairman and CEO, BJ’s Wholesale Club. “We ended the year with all-time high renewal rates and membership fee income. We delivered strong fourth quarter merchandise comp sales, supported by a successful holiday season and continued momentum through January. Looking ahead, we intend to continue to invest in our strategic priorities and look forward to driving further improvement in our business in 2019 and beyond.”
During fiscal year 2019, BJ’s expects net sales of $12.9 - $13.2 billion and net income of $200 - $212 million, with EPS of $1.42 to $1.50 per share. Wall Street analysts had forecast 2019 net sales of $13.3 billion and EPS of $1.47.