Laura Sen
Westborough, Mass. -- BJ's Wholesale Club reported Wednesday that net income for the quarter ended July 30 increased 28% to $45.7 million, compared with $35.7 million in the year-ago period. The warehouse club operator said revenue rose 11% to $3.05 billion from $2.75 billion, beating an expected $2.98 billion. Revenue from membership fees increased to $51.8 million from $47.5 million, while net sales rose to $2.98 billion from $2.69 billion. Same-store sales rose 7.8%, including a 4% contribution from fuel sales. "It is clear that our members are doing more of their weekly food shopping with us. And I
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
Amid disappointing sales and takeover rumors, BJ's Wholesale Club Inc. has shaken up management and unveiled plans to close five underperforming stores and restructure its home office and some field operations.