New York City -- Warehouse club operators Costco and BJ’s Wholesale Club continue to benefit from high fuel prices and bargain-seeking consumers, with both chain reporting solid results. Costco reported a 10% rise in same-store sales In July, beating Wall Street's expectations for an 8.6% increase. The company’s strongest performance was overseas, with international same-stores sales jumping 22%. Its U.S. sales increased 6%. Removing gas price inflation and stronger foreign currencies, same-store sales gained 5% for the month. Costco said that total revenue for the four weeks ended July 31 rose 15% to $6.74 billion. The warehouse club
BJ's Wholesale Club is officially going private, the company announced. Two private equity firms, Leonard Green & Partners LP and funds advised by CVC Capital Partners, have agreed to an all-cash transaction worth an estimated $2.8 billion.
BJ’s Wholesale Club Inc. reported better-than-anticipated growth in earnings and revenue for its 2011 first quarter. BJ’s Wholesale Club, first quarter, earnings, revenue, comparable-club merchandise sales, comparable-club, Laura Sen, warehouse club, Greg Jacobson
The outlook for same-store sales continues the improvement trend begun in September, according to the December ForecastIQ. But with consumer confidence more than two points lower in December 2010 than December 2009, it's not certain if the continuing improvement trend will bring sustainable recovery.
Worcester Business Journal Staff Writer Today The TJX Cos. Inc. and BJ's Wholesale Clubs Inc., two MetroWest retail behemoths, reported healthy sales increases for the month of November. Framingham-based TJX Cos. said sales increased 7 percent to $2 billion while Natick's BJ's hit $900.1 million, an 8 percent increase. Same-store sales increased 5 percent at BJ's and 3 percent at TJX. BJ's said sales were strongest in the southeast, and that food sales increased 4 percent over last year. TJX reported "brisk" business during the entire week of Thanksgiving. TJX operates discount retailers including T.J. Maxx, Marshalls, HomeGoods and
Target posted a better-than-expected 23 percent increase in third-quarter profit after the discount retailer more than doubled its credit-card segment income and expanded its fresh-food offerings to boost sales.