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August 23, 2019

BJ's up 15% after strong Q2

Photo | Grant Welker BJ's Wholesale Club headquarters in Westborough. The company announced it's opening four new locations over the next few months.

Shares of BJ’s Wholesale Club have jumped about 15% since the Westborough-based chain of wholesale markets announced second-quarter earnings of $54.5 million on sales of $3.3 billion. 

The revenue represented a 1.2% increase over the same period last year, but the company said its operating income of $98.7 million was 155.3% more than last year’s second quarter. 

BJ’s said it’s net income was $54.5 million, compared to a $5.5 million loss for last year’s quarter.

Earnings per share were $0.39 compared to $0.31, about a 26% increase. The figure beat Wall Street estimates, including Zacks Investment Research’s estimate of $0.37 per share. 

The stock, traded on New York Stock Exchange, was trading at just above $26 for most of Thursday and Friday after closing at $22.56 Wednesday.

The company’s 2019 outlook remained unchanged from previous estimates of $12.9 billion to $13.2 billion and net income between $200 million and $214 million.

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