BJ’s Wholesale’s Q2 earnings beat analysts’ estimates
BJ's Wholesale Club Holdings Inc. swung to a profit in its second quarter with earnings that came in ahead of the Street.
The membership-based retailer reported net income of $54.5 million, or $0.39 a share, for the quarter ended Aug. 3, compared to a loss of $5.6 million, or 5 cents a share, in the year-ago period. Analysts had expected earnings per share of $0.37.
Total revenue rose 1.2% to $3.345 billion, below Street estimates, as retail sales grew 1.1% to $3.271 billion and membership fee income increased 6.0% to $74.697 million.
Same-store sales, excluding gasoline sales, rose 1.6%, in line with expectations.
“Second quarter results for sales and earnings were in line with our expectations,” said Christopher J. Baldwin, chairman and CEO, BJ’s Wholesale Club. "We delivered improved margins and continued to grow earnings as we executed against our strategic priorities. Our sales were particularly strong in the second half of the quarter as weather improved, and we ended with strong momentum.”
BJ’s affirmed its fiscal 2019 guidance for EPS of $1.42 to $1.50 and for sales of $12.9 billion to $13.2 billion.
Headquartered in Westborough, Massachusetts, BJ's operates 217 warehouse club stores and 141 BJ's Gas locations in 16 states.
The membership-based retailer reported net income of $54.5 million, or $0.39 a share, for the quarter ended Aug. 3, compared to a loss of $5.6 million, or 5 cents a share, in the year-ago period. Analysts had expected earnings per share of $0.37.
Total revenue rose 1.2% to $3.345 billion, below Street estimates, as retail sales grew 1.1% to $3.271 billion and membership fee income increased 6.0% to $74.697 million.
Same-store sales, excluding gasoline sales, rose 1.6%, in line with expectations.
“Second quarter results for sales and earnings were in line with our expectations,” said Christopher J. Baldwin, chairman and CEO, BJ’s Wholesale Club. "We delivered improved margins and continued to grow earnings as we executed against our strategic priorities. Our sales were particularly strong in the second half of the quarter as weather improved, and we ended with strong momentum.”
BJ’s affirmed its fiscal 2019 guidance for EPS of $1.42 to $1.50 and for sales of $12.9 billion to $13.2 billion.
Headquartered in Westborough, Massachusetts, BJ's operates 217 warehouse club stores and 141 BJ's Gas locations in 16 states.