BJ's posts 7% quarterly profit increase on fuel sales gains
Natick, Mass. BJ's Wholesale Club said Wednesday that it posted a higher profit in the first quarter, helped by increased gasoline sales and a jump in same-store sales.
The warehouse club operator said profit rose to $26.1 million in the first quarter ended May 1, compared with $24.3 million in the year-ago period. The results were better than Wall Street expected.
Earlier this month, BJ's said sales rose 12.9% to $2.55 billion, helped by a same-store sales rise of 7.8%.
BJ's currently runs 188 warehouse clubs in 15 states.