twice connect

BJ’s Sales Rise 5%, Comps Edge Upward

3/01/2006 09:51:00 AM Eastern

Natick, Mass. — Sales at BJ’s Wholesale Club increased 5 percent in the retailer’s fiscal fourth quarter, rising to $2.1 billion, from a year-ago $2 billion. Comparable club sales rose 1.7 percent, including a contribution of 1 percent from gasoline sales.

Net income in the fourth quarter, ended Jan. 28, reached $51.6 million, up nearly 10 percent from a year-on-year $47 million, an increase attributed mainly to nearly a 10 percent rise in gasoline sales, said the warehouse club retailer.

For the 12 months, BJ’s sales climbed 7.8 percent, hitting $7.8 billion, compared with $7.2 billion the previous year. Comparable club sales were up 3.6 percent, including a 1.3 percent contribution from sales of gasoline.

Net income for the 12 months rose to $128.5 million, about a 13 percent increase over the $114.4 million reported the prior year. Adjusted net income for the 12 months was $126 million, compared with adjusted net income of $117.1 million year-over-year.

Membership fees for BJ’s warehouse club operation climbed to $42.1 million in the fourth quarter, up from $40.6 million year-on-year. For the 12 months, membership fees came in at $166 million, compared with a year-earlier $155 million.

During the fourth quarter, BJ’s purchased about 291,000 shares of the company’s common stock at an average cost of $27.52 per share, or about $8 million. In the 12 months, the retailer purchased about 2.5 million shares at an average cost of $28.88 per share, or about $73 million. This leaves about $72 million remaining under current authorization.

Ultra HD OLED TVs In IFA Spotlight

At IFA, all Ultra HD makers are quickly expanding

Jack Wayman, the Father Of International CES

Tributes continue to pour in for Jack Wayman, who

Nationwide PrimeTime 2014

Scenes from Nationwide PrimeTime buy fair held in

ProSource Meeting Filled With Optimism

San Antonio — Optimism reigned at ProSource’s

Ingram Draws 500 To Spring Vendor Expo

Scottsdale, Ariz. — Ingram Micro Consumer