BJs sees grocery sales improving as year progresses

BJ's sees grocery sales improving as year progresses

BJ's Wholesale Club, the third-largest warehouse club in the US, lifted its full-year outlook today (19 May) after posting a 7% rise in net income.

BJ's net income rose to US$26.1m for its fiscal first quarter ended 1 May, up from $24.3m lst year.

The company said that revenue, including membership fees, was up 13% to $2.61bn for the period.

Comparable-store sales also rose during the quarter, climbing 7.8% on higher gas prices. Excluding fuel, ID sales rose 4.2%, the company said.

The company said that it expects to see increasing sales of grocery items during the fiscal year.

For the full year, BJ's raised its earnings outlook to a range of $2.58 to $2.68 per share, up from its precious range of $2.54 to $2.64.