BJ's Says Food Shoppers Fuel Growth
Discount retailer BJ's Wholesale Club Inc. said its fourth quarter profit hit $55.1 million on $2.8 billion in revenue.
During the same period a year earlier, the Natick company reported a $52.7 million profit and revenue of $2.6 billion.
For the year, the company reported a profit of $132 million on revenue of $10.2 billion.
The company said the fourth quarter results included after-tax income of $1.8 million in payments received in the settlement of a class action lawsuit involving credit card interchange fees, as well as $1.7 million in income from an adjustment to legal reserves established in 2004.
BJ's also said February sales were $755.2 million, a 12.8 percent increase over the same month a year ago. It said food, cigarettes and furniture sold well during the month.
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