US warehouse chain BJ’s Wholesale Club has reported a 25% increase in second-quarter profit, boosted by strong sales of fresh food.
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The company, which operates 151 wholesale clubs and 79 petrol stations, posted net income of US$28m, or 40 cents per share, for the second quarter to 31 July, compared to $22m, or 32 cents per share, in last year’s second quarter.
Net sales for the second quarter increased by 12.5% to $1.8bn compared with $1.6bn in the second quarter of last year. Comparable club sales for the quarter increased by 8.5%, including a contribution from fuel sales of approximately 2.3%.
“We attribute our strong sales results for the second quarter primarily to Member Insight-driven improvements in merchandise assortment and adjacencies that were made during the first quarter and early second quarter. We were particularly pleased with the continued double digit growth in food sales,” said BJ’s president and CEO, Mike Wedge.
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By GlobalData
