BJ’s Wholesale Club, the third-largest warehouse club in the US, has lowered its full-year earnings guidance, despite booking an increase in second-quarter profits.
For the three months to the end of July, the company earned US$35.8m compared to net profits of $35.1m in the prior year period, the firm said today (18 August).
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Total sales for the quarter increased 8.6% to $2.7bn and comparable club sales increased by 4.4%.
For the full year ended 29 January, the company said it now expects to report net income in the range of $128.5m to $134.5m, compared to previous guidance of $136.9m to $141.9m.
The firm said it expects to report an increase in net sales of between 8% to 10% and an increase in comparable club sales of 4% to 6%.
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