US: BJ's ups outlook as Q1 climbs
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.
- Unilever 2016 investor day - the top takeaways
- Have food promotions reached tipping point?
- Mondelez goes beyond certified cocoa - analysis
- How Tyson's new CEO plans to grow the meat group
- The key questions for digital strategists in 2017
- Nestle unveils process to cut sugar by 40%
- Unilever sets new margin target with help from ZBB
- Unilever focuses on "value" of spreads arm
- McCormick to buy flavours business Enrico Giotti
- Amnesty - Global brands profit from labour abuses