BJ's Q2 net income rises, cuts full-year outlook

Natick, Mass. BJ’s Wholesale Club said Wednesday that net income for the quarter ended July 31 edged up 2%, but the warehouse club operator lowered its guidance for the year.

Second-quarter profit fell to $35.8 million, compared with $35.1 million last year.

Revenue rose 9% to $2.79 billion, from $2.57 billion last year.

Analysts expected higher net income on revenue of $2.8 billion.

The company lowered its earnings guidance for the year. It also lowered its sales expectations, saying it expects revenue to rise 8% to 10%, down from earlier guidance of a 9.2% to an 11.2% rise.