Why BJ's Wholesale Club Stock Jumped This Week
BJ's Wholesale Club Holdings (NYSE: BJ) investors beat the market this week as the stock gained 10% through Thursday trading compared to a 0.2% drop in the S&P 500, according to S&P Global Market Intelligence. The jump added to significant gains for owners of the regional warehouse retailer, whose shares are up 12% so far in 2022 compared to a 10% drop in the wider market.
The rally was powered by an encouraging earnings update.
BJ's revealed in a Thursday-morning earnings report that sales rose 20% at existing locations in the selling period that ended in late July. That expansion rate falls significantly after gasoline price spikes are accounted for, but the retailer's 8% adjusted growth still translates into market-share gains and rising traffic in a competitive industry.
Source Fool.com
