BJ's Wholesale Club Q1 Results Top Estimates

(RTTNews) - BJ's Wholesale Club Holdings Inc. (BJ) announced Thursday that net income for the first quarter declined to $112.45 million or $0.82 per share from $81.58 million or $0.59 per share in the prior-year quarter.

Excluding items, adjusted net income was $0.87 per share, compared to $0.72 per share in the year-ago quarter.

Total revenues for the quarter increased 16.2 percent to $4.50 billion from $3.87 billion in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.71 per share on revenues of $4.24 billion for the quarter. Analysts' estimates typically exclude special items.

Net sales grew 16.3 percent to $4.40 billion as well as membership fee income increased 11.9 percent to $96.9 million from last year. Digitally-enabled sales growth was 26 percent.

Total comparable club sales increased 14.4 percent. Comparable club sales, excluding the impact of gasoline sales, grew 4.1 percent.

Looking ahead to fiscal 2022, the company continues to expect earnings per share to be flat year-over-year. The Street is looking for earnings of $3,28 per share for the year.