BJ's posts 3Q earnings growth

NATICK, Mass. BJ’s Wholesale Club reported net income of $28.2 million, or 48 cents per diluted share, for the third quarter of 2008, compared to net income of $22.7 million, or 35 cents per diluted share, for the third quarter of 2007.

Net sales for the third quarter of 2008 were approximately $2.4 billion, an increase of 13.4% over the third quarter of 2007. Comparable-club sales (excluding fuel) increased 6.6%.

For the full year 2008, the company now expects to report net income of $131 to $135 million, or $2.20 to $2.30 per diluted share. Previous guidance for 2008, given on Aug. 20, was for net income of $124 to $130 million, or $2.10 to $2.20 per diluted share.