BJ's Wholesale Club Q2 Adj. Profit Declines; Comps. Down 5.3%

(RTTNews) - BJ's Wholesale Club Holdings, Inc. (BJ) reported second-quarter net income of $131.3 million compared to $141.0 million, prior year. Earnings per share was $0.97 compared to $1.03. Adjusted net income was $131.2 million, down 9.1% from prior year. Adjusted EPS was $0.97 compared to $1.06. On average, 18 analysts polled by Thomson Reuters expected the company to report profit per share of $0.90, for the quarter. Analysts' estimates typically exclude special items.

Second-quarter net sales were $4.86 billion, a decline of 2.9% from a year ago. Total revenues were $4.96 billion, a decline of 2.7%. Analysts on average had estimated $5.15 billion in revenue.

Total comparable club sales decreased by 5.3% in the second quarter of fiscal 2023. Excluding the impact of gasoline sales, comparable club sales increased by 1.1% in the second quarter of fiscal 2023.

For fiscal 2023, the company expects comparable club sales, excluding the impact of gasoline sales, to increase approximately 2% year-over-year. The company expects fiscal 2023 GAAP and adjusted EPS to be in the $3.80 to $3.92 range.

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