BJ's Fiscal Q3 Sales Move Up 9.3%

By Jeff Malester On Nov 21 2005 - 8:00am

Sales at BJ's Wholesale Club increased 9.3 percent in the company's fiscal third quarter, hitting $1.9 billion, up from a year-ago $1.6 billion, meanwhile comparable warehouse club sales moved up 4.1 percent in the period, including a 3.3 percent contribution from sales of gasoline.

BJ's reported net income of $27.8 million in the third quarter, ended Oct. 29, compared with $23.2 million in the same quarter last year. Current third-quarter results included pretax income of $3.1 million from a litigation settlement.

Adjusted net income for the third quarter was $25.9 million, compared with $22.5 million in the same three months in 2004.

For the nine months, BJ's net sales climbed 8.9 percent to $5.7 billion, from $5.2 billion in the same quarter the prior year. Comparable club sales rose 4.3 percent, including a 1.5 percent contribution from gasoline sales.

Net income for the nine months reached $76.9 million, compared with $67.4 million in the same period in 2004. Adjusting for unusual income and expense items in both years, adjusted net income for the current nine months came in at $73.8 million, compared with a year-ago $65.7 million.