Why BJ's Wholesale Club Stock Just Jumped
Shares of Costco Wholesale competitor BJ's Wholesale Club Holdings (NYSE: BJ) jumped 7.6% in afternoon trading Thursday after the company beat analyst projections for its fiscal second-quarter 2022 sales and earnings.
Heading into earnings day, analysts had predicted BJ's would earn just $0.80 per share on sales of $4.6 billion. Instead, BJ's this morning reported an adjusted profit of $1.06 per share -- and sales of $5.1 billion.
Total sales grew 22% year over year and same-store sales soared nearly 20% at BJ's in Q2, which ended July 30. And granted, skyrocketing prices on gasoline, and BJ's share of those sales, accounted for a lot of this growth. But even same-store sales excluding gas were up 7.6% year over year, and membership fee income grew 11.3%. Clearly, BJ's did well last quarter.
Source Fool.com
