November 20, 2007
BJ's Net Income Up 24 Percent
BJ’s Wholesale Club Inc., based in Natick, today reported net income of $22.7 million, or $.35 per diluted share, for the third quarter of 2007, up 24 percent from the third quarter of 2006.
Last year, the company netted $18.3 million in the third quarter, which included a $1.4 million post-tax loss related to closing the company’s ProFoods Restaurant Supply clubs.
Net sales for the quarter were $2.1 billion, 8 percent higher than for the same period in 2006, the company said.
BJ's also announced today that its board of directors has authorized $250 million for share repurchases. During the third quarter BJ's purchased 1.5 million shares of its common stock for a total of $50.7 million. For the year to date, it has spent a total of about $110.3 million to buy 3.2 million shares.
Last year, the company netted $18.3 million in the third quarter, which included a $1.4 million post-tax loss related to closing the company’s ProFoods Restaurant Supply clubs.
Net sales for the quarter were $2.1 billion, 8 percent higher than for the same period in 2006, the company said.
BJ's also announced today that its board of directors has authorized $250 million for share repurchases. During the third quarter BJ's purchased 1.5 million shares of its common stock for a total of $50.7 million. For the year to date, it has spent a total of about $110.3 million to buy 3.2 million shares.
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