BJ's Sales Climb 9.8%, Net Up 13.8% In Qtr.

By Jeff Malester On Nov 22 2004 - 8:00am

A selected-member-based merchandising plan and operational improvements both contributed to “solid” third-quarter and nine-month comp-store sales growth at BJ's Wholesale Club.

The retailer reported a 9.8 percent increase in sales for the fiscal three months, ended Oct. 30, hitting $1.8 billion, up from a year-earlier $1.6 billion. Comp-store sales gained 6.1 percent, with gasoline accounting for 0.4 percent.

Net income for the third quarter rose 13.8 percent to $23.2 million from a year-earlier $20.4 million. The company recorded a pretax charge of $1 million in the quarter.

For the nine months, BJ's sales increased 11.5 percent, hitting $5.2 billion, up from $4.7 billion. Comp-store sales rose 7.1 percent, with gasoline accounting for 1.1 percent.

Net income for the nine months reached $67.4 million, compared with $53.6 million in the same period in 2003. The company reported a pretax charge of $7 million for the year to date