Northeast storms chill BJ's monthly comps

NATICK, Mass. BJ's Wholesale Club reported a 3% gain in comparable-club sales for December, which was offset by about 1% because of snow storms in the Northeast. Comparable-club sales were also aided by a contribution from sales of gasoline of 1.7%.

The company reported that sales for the month increased by 6.2% to $1.03 billion from $971.8 million in December 2006.

For the month of January 2008, the Company expects merchandise comparable club sales, excluding the impact of gasoline and pharmacy, to increase by 1% to 3%. Based on expected sales results for January, the Company reiterated its earnings guidance of $.70 to $.74 per diluted share for the fourth quarter of 2007. Full results for the fourth quarter are scheduled to be announced on March 5, 2008.

On a comparable-club basis, the company reported that sales increased in all weeks except week three. The decrease in week three was due primarily to snow storms in the Northeast which severely hurt traffic. Sales increased in all regions, with the largest increases in Upstate New York and Metro New York, and the lowest increases in the New England and Southeast regions. Sales of food increased by approximately 6% and general merchandise sales decreased by about 3%.