BJ's Wholesale Club Q1 Results Top Estimates - Quick Facts

(RTTNews) - BJ's Wholesale Club Holdings Inc. (BJ) announced Thursday that net income for the first quarter declined to $81.58 million or $0.59 per share from $95.73 million or $0.69 per share in the prior-year quarter.

Excluding items, adjusted net income was $0.72 per share, compared to $0.69 per share in the year-ago quarter.

Total revenues for the quarter increased 1.9 percent to $3.87 billion from $3.80 billion in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.57 per share on revenues of $3.62 billion for the quarter. Analysts' estimates typically exclude special items.

Net sales grew 1.7 percent to $3.78 billion as well as membership fee income increased 8.6 percent to $86.39 million from last year. Digitally-enabled sales growth was 31 percent.

Comparable club sales edged up 0.3 percent. Comparable club sales, excluding the impact of gasoline sales, decreased 5.0 percent, reflecting a two-year stacked comp club sales of 22.0%

"Given the level of uncertainty associated with the evolution of the pandemic and consumer behavior, fiscal 2021 remains difficult to forecast. As a result, we will continue to refrain from offering formal detailed guidance," said Laura Felice, CFO.