BJ’s Sales Move Up 9.3% - Twice

BJ’s Sales Move Up 9.3%

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Natick, Mass. — 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.

At the end of the third quarter, BJ’s operated 161 clubs in 16 states, mainly in the eastern United States.

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.

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