May 20, 2009
BJ's Q1 Profits Climb, Sales Inch Up
By Matthew L. Brown
BJ's Wholesale Club Inc. said its first quarter profit rose from $17.2 million a year ago to $24.3 million this year.
The Natick-based retailer's sales for the quarter were $2.26 billion a 0.2 percent increase. Same store sales slipped by 1.5 percent on a 9 percent hit on gasoline sales. Excluding gasoline sales, same store merchandise sales increased by 7.5 percent.
During the same quarter a year ago, same store sales increased by 9.6 percent on a 3.9 percent increase in gasoline sales.
The company purchased $2.38 million shares of company common stock worth about $70.4 million during the quarter. Under its current repurchase authorization, the company can buy back about $138.2 million more in common stock.
WBJ Web Partners
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