Why BJ's Wholesale Club Stock Popped Today
Shares of BJ's Wholesale Club (NYSE: BJ) jumped 7.4% on Thursday as investors cheered the discount warehouse chain's impressive revenue and profit growth.
The retailer's net sales rose 16.3% year over year to $4.4 billion in its fiscal 2022 first quarter, which ended on April 30. The gains were fueled by a 14.4% jump in total comparable-club sales. Excluding gasoline sales, BJ's comps grew by 4.1%.
The warehouse club's membership count rose to 6.5 million as BJ's value-priced offerings proved popular with cash-strapped consumers. The company's membership fee income, in turn, climbed 11.9% to $96.6 million.
Source Fool.com
