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BJ’s Q4 Beats Wall Street As Comps Gain

BJ’s Wholesale Club gained comp momentum in its fourth quarter, beating Wall Street estimates.

For the 13-week fourth quarter ended February 2, BJ’s Wholesale Club posted net income of $64.3 million, or 46 cents per diluted share, as compared to $66.7 million, or 71 cents per diluted share, for the 14-week fourth quarter in the previous year. Adjusted net income was $62.1 million, or 44 cents per share, versus $50.6 million, or 36 cents per share, in the quarter a year before.

BJ’s topped a Marketbeat-published analyst consensus estimate of 36 cents per share in the year-past quarter.

Comparable sales excluding gasoline revenue increased 2.9% for the quarter year over year. Net sales for the quarter were $3.34 billion versus $3.49 billion in the period a year before. Total revenues, including membership fees, was $3.42 billion versus $3.56 billion in the quarter a year earlier.

For the fiscal year, BJ’s posted net income of $127.3 million, or $1.05 per diluted share, versus $50.3 million, or 54 cents per diluted share, in the year previous. Adjusted net income was $186.2 million, or $1.33 per share, versus $123.1 million, or 88 cents per share, in the year before.

Comps excluding gas revenue increased 2.2% year over year. Net sales were $12.72 billion versus $12.5 billion in the year before. Total revenue was $13.01 billion versus $12.75 billion in the year earlier.

“We’re pleased with our fourth quarter and full year performance, which exceeded our expectations for sales and earnings,” said Christopher Baldwin, BJ’s chairman and CEO. “We ended the year with all-time high renewal rates and membership fee income. We delivered strong fourth quarter merchandise comp sales, supported by a successful holiday season and continued momentum through January.”