BJ's Q1 Sales Up 11.1%

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Natick, Mass. - Sales at BJ's Wholesale Club increased 11.1 percent in the retailer's fiscal first quarter, to $1.3 billion, up from $1.1 billion in the year-ago period.

BJ's reported strong sales across most food and consumables categories, leading to a 4 percent comp-store increase during the first three months.

Net income at BJ's in the first quarter, ended May 4, was relatively flat, with the company reporting $23.1 million, compared with $23 million in the same quarter in 2001. First-quarter results include pre-opening expenses of $3.3 million pre-tax, an increase of $3 million over last year's first quarter.

BJ's, which operated 135 clubs at the end of the first quarter, compared with 134 locations a year ago, said it repurchased 453,000 shares of stock during the first three months, or a total of $19.6 million.

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