Natick, Mass. - Profits at BJ's Wholesale Club rose 32 percent to $23 million for the third quarter ended Oct. 30.
Net sales for the No. 3 warehouse club chain increased 4.8 percent to $2.6 billion for the three-month period, and same store sales excluding fuel rose 1.5 percent.
Net income was buoyed by a one-time pre-tax charge of nearly $12 million that was taken during the year-ago quarter, as well as tighter expense controls and increased revenue from membership fees.
BJ's also raised its full-year earnings outlook from a range of $128.5 million- $134.5 million, to $133.6 million- $135.6 million.
The East Coast chain is purportedly planning to put itself on the auction block after receiving a recent offer from a private-equity firm, according to published reports.