BJ's Wholesale Q4 Results Top Estimates
Retailer BJ’s Wholesale Club Holdings, Inc. (BJ) announced Thursday that profit for the fourth quarter increased 20.7 percent from last year, driven by improved gross margins and 13.1 percent revenue growth. Adjusted earnings per share and quarterly revenues topped analysts’ estimates. The company also initiated earnings guidance for the full-year 2023, below estimates.
In pre-market trading on the NYSE, BJ’s Wholesale is up $3.19 or 4.29 percent to $77.50.
For the fourth quarter, net income grew to $129.78 million or $0.95 per share from $107.57 million or $0.78 per share in the prior-year quarter.
Excluding items, adjusted net income was $136.69 million or $1.00 per share, compared to $109.91 million or $0.80 per share in the year-ago quarter.
On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.87 per share for the quarter. Analysts’ estimates typically exclude special items.
Total revenues for the quarter increased 13.1 percent to $4.93 billion from $4.36 billion in the same quarter last year. Analysts expected revenues of $4.80 billion for the quarter.
Net sales grew 13.2 percent to $4.83 billion and membership fee income increased 8.0 percent to $101.83 million from last year. Digitally-enabled sales growth was 22 percent.
Total comparable club sales increased 9.8 percent and comparable club sales, excluding the impact of gasoline sales, grew 8.7 percent. The Company also achieved a record 90 percent tenured member renewal rate.
Merchandise gross margin rate, which excludes gasoline sales and membership fee income, increased 30 basis points over the fourth quarter of fiscal 2021, driven by improved inventory management.
The Company successfully launched its co-brand credit card program with Capital One and Mastercard in late February, officially naming it the BJ’s One Mastercard program. The program will provide a first-class rewards and customer service experience, delivering more value back to its members.
The program will offer up to 5 percent rewards on in-club earnings and up to 2 percent rewards on out-of-club earnings as well as up to 15 cents off/gallon at BJ’s Gas.
Looking ahead to fiscal 2023, BJ’s expects earnings per share to remain approximately flat year-over-year, including the 53rd week benefit of low-teens cents per share, implying earnings of about $3.76 per share. Comparable club sales, excluding the impact of gasoline sales, are expected to increase 4 to 5 percent.
The Street is looking for earnings of $3.85 per share on revenues of $20.53 billion for the year.
Over the long term, the company projects earnings per share growth in the high-single to low-double digit percent, total revenue growth in the mid-single digit percent, and comparable club sales growth in the low-to-mid single digit percent, excluding the impact of gasoline sales.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com
For comments and feedback contact: editorial@rttnews.com
Business News
Related News & Content
-
Limit taxonomy terms added to a custom post type
Limit taxonomy terms added to a custom post type,I've created a Custom Post Type and a Custom Taxonomy. In WP Admin, how can I limit amount of taxonomy terms that are added to the custom post type? I want to add no more than one tag into the post. -
Query top level custom post in taxonomy
Query top level custom post in taxonomy,This is my first post, I'm a bit stuck. I have a custom post (dan) and taxonomy (dnas), with hierarchical categories. I want to make a query resulting in posts at toplevel (hoofdcategorie01, -
Gutenberg: Restrict Top Level Blocks, But Not Child Blocks
Gutenberg: Restrict Top Level Blocks, But Not Child Blocks,Background I've created a custom top level "page section" block, to work with my existing theme. I've like to restrict top level blocks to ONLY that one block. However, I don't want to di... -
How do I load styles into the block editor admin screen?
How do I load styles into the block editor admin screen?,The core file 'load-styles.php' generates css styles. Some of the styles interfere with the block editor. I would like to pass in my own style rules that override the styles generated by 'load-styl... -
Installing WordPress in a subdirectory
Installing WordPress in a subdirectory,I am trying to install wordpress into a subdirectory of a website. I simply want to build the client's new site in this subdirectory, so a separate and new WP install in this subdirectory, and the... -
Custom theme and plugin updating
Custom theme and plugin updating,History: I'm working on a project for a client that involves building 27 unique websites that are built on wordpress. I say unique, because (for reasons that are not worth going into here) they ar... -
Rewrite nested urls for custom post type
Rewrite nested urls for custom post type,I have a problem with nested permalink. I have a structure of urls like that: Catalog -> Category -> Product My urls are: www.domain.com/catalogs (for archive catalog) www.domain.com/catal... -
Ajax not working to insert, query and result data
Ajax not working to insert, query and result data,On my site, through a form I send/register same information in database, do a SELECT/query and return it! Return the last table saved in database, just that user just entered on the form (along wit... -
Israel at war, day 204: Hamas airs video of Israeli hostages, one with U.S. citizenship
Israel at war, day 204: Hamas airs video of Israeli hostages, one with U.S. citizenship,Hamas Studying Israel's Response to Position on Cease-fire Talks Gaza Aid Shipments Resume From Cyprus IDF: Two Palestinians Killed After Firing on IDF Outpost in the West Bank Pro-Palestinian Protest Leader Banned From Columbia Campus Here's What You Need to Know 204 Days Into the War -
Carol Kirkwood stuns in figure-hugging dress amid BBC Breakfast technical chaos
Carol Kirkwood stuns in figure-hugging dress amid BBC Breakfast technical chaos,CAROL Kirkwood stunned in a figure-hugging dress amid a technical blunder. BBC Breakfast was flung into chaos this morning after a string of sound issues. However Carol, 61, was all smiles as she p… -
Families ‘to sue prison’ where loud inmates ‘terrorise kids’ with screaming
Families 'to sue prison' where loud inmates 'terrorise kids' with screaming,Residents living next door to a new prison who say their kids have to sleep wearing headphones and some leave during weekends due to the racket are threatening to sue the prison service -
Doctor Strange’s Secret Wars Role May Be More Important Than You Thought – Looper
Doctor Strange's Secret Wars Role May Be More Important Than You Thought - Looper,According to entertainment leaker Alex Perez, Doctor Strange will find himself confronting his inner struggles as he headlines "Avengers: Secret Wars." -
What Kris Jenner Has Said About Those O.J. Simpson Affair Rumors – Nicki Swift
What Kris Jenner Has Said About Those O.J. Simpson Affair Rumors - Nicki Swift,Over the years, plenty of gossip has swirled about the Kardashians. Here's what Kris Jenner has said on those affair rumors about O.J. Simpson. -
Why We’re Worried About Khloe Kardashian – Nicki Swift
Why We're Worried About Khloe Kardashian - Nicki Swift,Although Khloé Kardashian has seemingly picked up the pieces of her life after turmoil, there's no denying that we are still worried about the reality star. -
Future & Metro Boomin's 'We Still Don't Trust You' Debuts Atop Billboard 200
Future & Metro Boomin's 'We Still Don't Trust You' Debuts Atop Billboard 200,Three-time Grammy Award-winning artist Future and Grammy-nominated record producer Metro Boomin's second collaborative album, We Still Don't Trust You, has debuted atop the Billboard 200 chart dated April 27. -
Lady Gaga Announces Return Of 'Jazz & Piano' Las Vegas Residency
Lady Gaga Announces Return Of 'Jazz & Piano' Las Vegas Residency,Lady Gaga has announced eight new dates for her "Jazz & Piano" Las Vegas residency this summer. "Lady Gaga Jazz & Piano returns to Las Vegas for 8 shows between June 19 and July 6" Gaga announced on social media. -
US, UK Blame Israel For Not Protecting Aid Workers
US, UK Blame Israel For Not Protecting Aid Workers,The killing of seven aid workers from International food charity NGO World Central Kitchen in Israeli military airstrikes in central Gaza has drawn widespread condemnation from world leaders. -
Alvotech To Manufacture Its High-concentration Interchangeable Biosimilar To Humira For Quallent
Alvotech To Manufacture Its High-concentration Interchangeable Biosimilar To Humira For Quallent,Alvotech (ALVO) and Teva Pharmaceuticals, a U.S. affiliate of Teva Pharmaceutical Industries (TEVA), said, under the recently announced U.S. strategic partnership agreement, Alvotech will manufacture its high-concentration interchangeable biosimilar to Humira for Quallent Pharmaceuticals with, in alignment with its U.
Warning: file_get_contents(https://www.scienceradars.com/wp-output-content.php?pg=1&cat=&kw=&lvl=): Failed to open stream: HTTP request failed! HTTP/1.1 526 in /home/wwwroot/xuenou.com/wp-content/themes/chromenews/template-parts/content.php on line 169
Warning: file_get_contents(https://www.bayuexiang.com/wp-output-content.php?pg=1&cat=&kw=&lvl=): Failed to open stream: HTTP request failed! HTTP/1.1 526 in /home/wwwroot/xuenou.com/wp-content/themes/chromenews/template-parts/content.php on line 173
There's an exact age your friendships will go through a 'splinter era'. Here's how to survive it.
Swiss Market Ends Marginally Up After Choppy Ride
Danni asked why women don’t want to have children in 2024. 13,000 of them responded.
South Korea January Current Account Surplus $3.05 Billion
