BJ’s Wholesale has reported its performance for the second quarter (Q2 2019) ended on August 3, 2019.

Q2 2019 results:

  • Net sales increased 1.1% to USD3.27 billion compared to USD3.24 billion last year.
  • Comp club sales increased 1.6%, excluding fuel. Including fuel, comp sales increased 0.6%.
  • Membership fee income increased 6.0% to USD74.7 million.
  • Gross Profit increased to USD612.8 million from USD588.5 million last year.
  • Gross Margin rate increased 30 basis points, excluding the impact of fuel.
  • Operating income increased to USD98.7 million compared to USD38.7 million last year.
  • Net income increased to USD54.5 million.

Year to Date results:

  • Net sales increased 1.8% to USD6.34 billion compared to USD6.23 billion last year.
  • Comp club sales increased 1.7%, excluding fuel. Including fuel, comp sales increased 1.3%.
  • Membership fee income increased 7.0% to USD148 million.
  • Gross Profit increased to USD1.18 billion from USD1.13 billion last year.
  • Gross Margin rate increased 30 basis points, excluding the impact of fuel.
  • Operating income increased to USD169.4 million compared to USD103.2 million last year.
  • Net income increased to USD90.4 million.

FY 2019 Outlook:

  • Net sales are expected to be between USD12.9 to USD13.2 billion.
  • Comp club sales are expected to increase in between 1.5 to 2.5%, excluding fuel, for the full year. 
  • Net income is expected to be in between USD200 million and USD212 million for the full year.
  • Capital expenditures are expected to be approximately USD200 million for the full year.

Source: BJ’s Investor relations