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SECURITY: BJ (Common)
EXCHANGE: New York Stock Exchange CURRENCY: US Dollar
BJ's introduced the wholesale
club concept to New England in 1984 and has since expanded to become a
leading warehouse chain in the eastern United States. The Company currently
operates 150 clubs and 78 gas stations compared with 143 clubs and 71 gas
stations one year ago
http://www.bjs.com
BJ's
Wholesale Club Reports Third Quarter Results
Updates
Earnings Guidance for 2008 to a Range of $2.20 to $2.30
Announces
Preliminary Earnings Guidance for 2009
November
19, 2008, Natick, MA - - - BJ's Wholesale Club, Inc. (NYSE: BJ) today reported
net income of $28.2 million, or $0.48 per diluted share, for the third
quarter of 2008, compared to net income of $22.7 million, or $0.35 per
diluted share, for the third quarter of 2007. Results for the third quarter
of 2008 included post-tax expense of $0.5 million, or $0.01 per diluted
share, related to the closing of the Company's Greenville, South Carolina,
club, which are reported as discontinued operations. On November 6, 2008,
the Company increased its earnings guidance for the third quarter of 2008
to a range of $0.45 to $0.49 per diluted share. The Company's original
guidance for the third quarter of 2008, announced on August 20, 2008, was
$0.36 to $0.40 per diluted share.
Results
for the third quarter ended November 1, 2008 reflected a number of unplanned
income and expense items which resulted in a net benefit of approximately
$0.10 per diluted share. Gasoline income for the third quarter exceeded
plan by approximately $0.17 per share, due primarily to unprecedented market
conditions which resulted in unusually strong gasoline sales and profits.
Unplanned expenses related to severance costs and an adjustment to the
Company's reserve for state sales tax audits were worth approximately $0.04
per share in total. In addition, expenses for higher than planned bonus
accruals, triggered by earnings that were above plan, were worth approximately
$0.03 per diluted share.
For
the first nine months of 2008, net income was $81.9 million, or $1.38 per
diluted share, compared to net income of $72.6 million, or $1.11 per diluted
share, for the first nine months of 2007.
For
the full year 2008, the Company now expects to report net income of $131
to $135 million, or $2.20 to $2.30 per diluted share. Previous guidance
for 2008, given on August 20, 2008, was for net income of $124 to $130
million, or $2.10 to $2.20 per diluted share.
The
Company also announced preliminary earnings guidance for next year. For
the year ending January 30, 2010, the Company expects to report net income
of $129 to $136 million, or $2.27 to $2.39 per diluted share.
Net
sales for the third quarter of 2008 were approximately $2.4 billion, an
increase of 13.4% over the third quarter of 2007. Net sales for the first
nine months of 2008 increased by 14.7% over the first nine months of 2007.
BJ's
Wholesale Club Reports October Sales Results
Updates
Q-3 Earnings Guidance to a Range of $.45 - $.49 per Share
NATICK, Mass. -- November 06, 2008
BJ's Wholesale Club, Inc. (NYSE: BJ) today reported that sales for October
2008 increased by 11.6% to $738.8 million from $662.1 million in October
2007. On a comparable club basis, sales for October 2008 increased by
10.2%, including a contribution from sales of gasoline worth 3.6%. Last
year, comparable club sales for the month of October increased by 4.8%,
including a contribution from gasoline sales of 1.7% and a negative impact
from lack of pharmacy sales worth 0.4%.
For the third quarter ended November 1, 2008, total sales increased by
13.4% to $2.4 billion, and comparable club sales increased by 11.9% including
a contribution from sales of gasoline of 5.3%. For the third quarter ended
November 3, 2007, comparable club sales increased by 3.4%,
including a negative impact from sales of gasoline of 0.2% and a negative
impact from the absence of pharmacy sales worth 0.4%.
The Company also announced today that as a result of unprecedented market
conditions in the retail gasoline industry during the quarter, profitsgenerated
by BJ's gasoline stations greatly exceeded the Company's
expectations. Primarily as a result of higher than expected gasoline
income, the Company increased its earnings guidance for the third quarter
of 2008 to a range of $.45 to $.49 per diluted share, from previous
guidance of $.36 to $.40 per diluted share.
For the first nine months of fiscal 2008, total sales increased by 14.7%
and comparable club sales increased by 12.3%, including a contribution
from sales of gasoline of 5.8%. For the first nine months of fiscal 2007,
comparable club sales increased by 3.1%, including a contribution from
sales of gasoline of 0.7% and a negative impact from lack of pharmacy
sales worth 0.4%.
Four Weeks Thirteen Weeks Thirty-nine Weeks
Ended Ended
Ended
November 1, November 1, November
1 2008
2008 2008
Merchandise comp club 6.6%
6.6%
6.5%
sales
Impact of gasoline 3.6%
5.3%
5.8%
sales
Comparable club sales 10.2%
11.9%
12.3%
Sales Results for October 2008
($ in thousands)
Four Weeks Ended
% Change
November 1, November 3,
Net Comp.
2008 2007
Sales Sales
$738,780 $662,080
11.6% 10.2%
Thirty-Nine Weeks Ended
% Change
November 1, November 3,
Net Comp.
2008 2007
Sales Sales
$7,300,001 $6,367,080
14.7% 12.3%
BJ's
Wholesale Club Reports September Sales Results
NATICK,
Mass., Oct 08, 2008 (BUSINESS WIRE) -- BJ's Wholesale Club, Inc. (NYSE:
BJ) today reported that sales for September 2008 increased by 11.8% to
$892.8 million from $798.9 million in September 2007. On a comparable club
basis, sales for September 2008 increased by 10.4%, including a contribution
from sales of gasoline worth 4.8%.
Five Weeks Ended Five Weeks Ended
October 4, 2008 October 6, 2007
Merchandise
comparable club sales 5.6%
4.1%
Impact
of gasoline sales
4.8%
0.2%
Impact
of closed pharmacies
-
(0.4)%
Comparable
club sales
10.4%
3.9%
Sales
Results for September 2008
($
in thousands)
Five
Weeks Ended
% Change
October
4, October
6,
Net Comp.
2008
2007
Sales Sales
$892,846
$ 798,896
11.8% 10.4%
Thirty-Five
Weeks Ended
% Change
October
4, October
6,
Net Comp.
2008
2007
Sales Sales
$6,577,556
$5,720,013
15.0% 12.6%
The
Company provided the following additional information regarding comparable
club sales for September 2008:
--
Sales increased in all five weeks with the highest increases in weeks one
and five and the smallest increases in weeks two and three.
--
Sales increases were roughly the same in all major regions with the exception
of upstate New York where comp sales exceeded the chain average.
--
Excluding sales of gasoline, traffic increased by approximately 4% versus
last year and the average transaction amount increased by approximately
1%.
--
Sales of food increased by approximately 10%, driven by strong sales of
perishable foods. Sales of general merchandise decreased by approximately
3%, due in part to lower sales of televisions, jewelry and toys versus
last year.
--
Departments with the strongest sales increases compared to last year included
bakery, baking needs, candy, coffee, computers, dairy, full service deli,
health & beauty, household chemicals, meat, oils & shortenings,
pet food, paper, pasta, prepared dinners, produce and snacks. Weaker departments
versus last year included cigarettes, electronics, jewelry, juices, pre-recorded
video, storage, televisions and toys.
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