BJ's Reports Higher Net Income In Qtr.

By Alan Wolf -- TWICE, 8/17/2011

Westborough, Mass. - BJ's Wholesale Club reported higher net income for the second quarter, ended July 30.

Net income was $45.7 million, an increase of almost $10 million compared with the prior year's second quarter.

Laura Sen, BJ's president/CEO, said, "BJ's outperformance of 10 percent vs. our guidance reflected favorable merchandise margins, higher gas profitability and expense savings that exceeded plan."

As previously announced, net sales for the second quarter of 2011 increased by 11 percent to $2.98 billion and comp-club sales increased by 7.8 percent, including a contribution from sales of gasoline of 4 percent. Excluding the impact of gasoline, merchandise comp-club sales increased by 3.8 percent.

Among the BJ's departments with the strongest comp sales was computer equipment. Departments with weaker sales vs. last year included, televisions and video games.