BJ’s Shares Soar on Quarterly Beat

Written by Bryan Shin

et|icon_calendar|

August 22, 2019

et|icon_grid-3×3|

BJ’s Wholesale Club (NYSE: BJ) reported its second quarter financial results before the opening bell on Thursday. The wholesale retailer reported better-than-expected results and affirmed its guidance, sending shares soaring by 12.7% at the open.

For the second quarter, BJ’s reported earnings of USD 0.39 per share on revenue of USD 3.35 Billion. FactSet analysts expected earnings of USD 0.37 per share on revenue of USD 3.39 Billion. 

BJ’s unexpectedly reported income from continuing operations of USD 54.3 Million compared to a loss of USD 5.5 Million last year. 

Overall, revenue increased marginally by 1.1%. Membership fee income rose by 6% to USD 74.69 Million at the end of the quarter.

Comparable club sales for the quarter increased by 1.6% compared to the same quarter a year prior, matching FactSet’s estimates.

“Second quarter results for sales and earnings were in line with our expectations,” said Christopher J. Baldwin, Chairman and Chief Executive Officer, BJ’s Wholesale Club. “We delivered improved margins and continued to grow earnings as we executed against our strategic priorities. Our sales were particularly strong in the second half of the quarter as weather improved, and we ended with strong momentum. We are confident that we will deliver on our full-year expectations as we continue to transform BJ’s Wholesale Club.”

As for the remainder of fiscal 2020, BJ’s is expecting earnings between USD 1.42 to USD 1.50 per share on revenue of USD 12.9 Billion to USD 13.2 Billion. 

Following the unexpected quarterly profit, BJ’s shares have now increased by 14.7% this year.

Stock price

DAY LOW/HIGH

52 week low/high

Comparables

Related Articles

Tyson Shares Jump Despite Earnings and Revenue Miss

Tyson Shares Jump Despite Earnings and Revenue Miss

Retail0 Comments Shares of Tyson Foods, Inc. (NYSE: TSN) are up over 6% on Tuesday, even after the meat producer reported fourth quarter earnings and sales that fell short of estimates. Tyson said net sales increased 8.8% to USD 10.88 Billion....

Coty Outpaces First Quarter Earnings Estimates

Coty Outpaces First Quarter Earnings Estimates

Retail0 Comments Global beauty brand Coty Inc. (NYSE: COTY) came out with first quarter earnings that exceeded Wall Street’s expectations on Wednesday, sending its share price up more than 13%. The parent of cosmetics companies like Rimmel and...

Altria Cuts Value of Juul Stake by USD 4.5 Billion

Altria Cuts Value of Juul Stake by USD 4.5 Billion

Retail0 Comments Tobacco giant Altria Group, Inc. (NYSE: MO) on Thursday said it took a USD 4.5 Billion hit from its investment in electronic cigarette maker Juul Labs Inc. amid proposed U.S. bans on e-cigarette flavors and regulatory crackdowns...

Comments

Leave a Reply

avatar
  Subscribe  
Notify of