Natick, Mass. — BJ’s Wholesale Club reported higher net income and net sales for its fourth quarter, ended Feb. 2.
Net income jumped to $50.2 million during the quarter compared with the previous year’s $11.9 million. The favorable net income results were due primarily to strong January sales, favorable merchandise margin rates, strong gasoline profitability and expenses coming in slightly lower than projected, the chain said.
Net sales for the fourth quarter of 2007, which included 13 weeks of sales vs. 14 weeks of sales in 2006, rose by 1.9 percent to $2.4 billion. Comp-store sales for the fourth quarter, based on 13 weeks of sales in both years, increased by 5.4 percent, including a favorable impact from sales of gasoline of 2.4 percent, and a negative impact from the absence of pharmacy sales of 0.4 percent. On a comp-store basis, merchandise sales excluding gas and pharmacy increased by 3.4 percent.
BJ’s currently operates 177 BJ’s Wholesale Clubs in 16 states.