BJ’s Wholesale Club approaches the holiday season behind a solid third quarter performance.
For the third quarter, BJ’s posted net income from continuing operations of $55.1 million, or 40 cents per diluted share, versus $54.4 million, or 39 cents per diluted share, in the period a year previous. Adjusted net income, excluding one-time charges, was $56.6 million, or 41 cents per diluted share, versus $53.8 million, or 39 cents per diluted share, in the year-before quarter.
BJ’s topped a MarketBeat-published analyst consensus adjusted earnings per share estimate by a penny.
Comparable sales, excluding the effect of gasoline sales, increased 1.1% in the quarter year over year.
Net sales were $3.15 billion and total revenues were $3.23 billion in the quarter, versus $3.15 billion and $3.22 billion, respectively, in the quarter a year prior. Operating income rose to $100.9 million from $90.3 million in the year-earlier period.
“We delivered solid margin improvement and continued earnings growth in the third quarter, ”said Christopher Baldwin, BJ’s Wholesale Club chairman and CEO. “We remain focused on executing against our strategic plan and transforming our business to be well positioned for the long term.”