BJ’s Posts Jump in 4th-Quarter Profits
Mar 6, 2008 6:00 AM
NATICK, Mass. — BJ’s Wholesale Club here yesterday reported a sharp rise in fourth-quarter net income, citing strong sales of high-margin items such as perishables. Net income for the quarter, which ended Feb. 2, totaled $50.2 million, vs. $11.9 million in the year-ago period. Sales for the fourth quarter, which included one less week than the preceding year, were up 1.9%, to $2.4 billion. Comparable-store sales, adjusted for the extra week, were up 5.4% in the fourth quarter, including a bump of 2.4% from gasoline. Comp-store sales of perishables were up 8.4% for the quarter, offsetting flat sales in some general-merchandise categories, the company said. Net income for the full year was $122.9 million, vs. $72 million in the preceding year. Sales for the 52-week year were up 6.2%, to $8.8 billion, compared with the 53-week preceding year. Adjusted comps for the full year rose 3.7%, including a 1.1% bump from gasoline.
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