November 19, 2008
Gas Drives BJ's 3Q Profit Increase
By Matthew L. Brown
Natick-based BJ's Wholesale Club Inc. reported a third quarter profit of $28.2 million on revenue of $2.5 billion.
For the same period a year ago, the company reported a $22.7 million profit on revenue of $2.2 billion.
The quarter's results also include a $500,000 expense related to the closing of its Greenville, S.C. store.
The company gives a lot of credit for the strong earnings increase to stronger than expected gasoline sales. Same-store sales increased 11.9 percent compared to the third quarter of 2007, the company said. The company said it expects to report a profit for 2008 between $131 million and $135 million.
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