BJ's reports 1Q comps, sales increase

NATICK, Mass. BJ’s Wholesale Club has reported net income for the first quarter of 2008 of $17.2 million, or 29 cents per diluted share. For the first quarter of 2007, the company reported net income of $13.7 million, or 21 cents per diluted share.

The company also announced that it expects to report earnings for fiscal 2008 in the range of $2.04 to $2.14 per diluted share, an increase of 6 cents versus prior guidance of $1.98 to $2.08 per diluted share.

Net sales for the first quarter of 2008 increased by 12.3% to $2.26 billion and comparable-club sales increased by 9.6%, including a contribution from sales of gasoline of 3.9%. For the first quarter of 2007, net sales increased by 7.5% and comparable-club sales increased by 2.3%, including a contribution from sales of gasoline of 1.4%.