BJ's Wholesale Q2 profit up 28%
Westborough, Mass. -- BJ's Wholesale Club reported Wednesday that net income for the quarter ended July 30 increased 28% to $45.7 million, compared with $35.7 million in the year-ago period.
The warehouse club operator said revenue rose 11% to $3.05 billion from $2.75 billion, beating an expected $2.98 billion. Revenue from membership fees increased to $51.8 million from $47.5 million, while net sales rose to $2.98 billion from $2.69 billion. Same-store sales rose 7.8%, including a 4% contribution from fuel sales.
"It is clear that our members are doing more of their weekly food shopping with us. And I believe that we have tremendous opportunities to further grow our business," Laura Sen, BJ's president and CEO, said in a statement.