BJ's Wholesale Club posts 4Q income growth
NATICK, Mass. BJ’s Wholesale Club reported net income of $52.7 million, or 91 cents per diluted share, for the fourth quarter ended Jan. 31. For the fourth quarter ended Feb. 2, 2008, net income was $50.2 million, or 80 cents per diluted share.
For the full year 2008, net income was $134.6 million, or $2.28 per diluted share. For the full year 2007, net income was $122.9 million, or $1.90 per diluted share.
Net sales for the fourth quarter of 2008 rose by 3.2% to $2.5 billion and comparable-club sales increased by 1.7%, including an unfavorable impact from sales of gasoline of 4.7%. Merchandise comparable-club sales excluding gas increased by 6.4%.
Net sales for the full year 2008 increased by 11.5% to $9.8 billion and comparable-club sales increased by 9.4%, including a favorable impact from sales of gasoline of 3%. Merchandise comparable-club sales excluding gas increased by 6.4%.
For 2009, the company is planning for net income of $123 to $129 million, or $2.26 to $2.36 per diluted share. The earnings per share estimate is based on fully diluted shares in the range of 54 to 55 million, and assumes total share repurchases of approximately $100 million.