— BJ’s Wholesale Club Holdings Inc. (NYSE: BJ) reported its third-quarter 2019 adjusted earnings of $0.41 per share versus $0.40 per share expected.
— Net sales rose by 0.1% to $3.2 billion. Total revenues increased by 0.2% to $3.23 billion versus $3.29 billion expected.
— Comparable club sales declined by 0.4% while comparable club sales excluding gasoline sales increased by 1.1% year-over-year.
— On November 20, the company’s board approved a stock repurchase program to buy back up to $250 million of its outstanding common stock, effective immediately. The repurchase program expires in January 2022.
— Looking ahead into fiscal 2019, the company now expects net sales of about $12.9 billion compared to the previous estimates range of $12.9 billion to $13.2 billion.
— Merchandise comparable-store sales outlook is lowered to the range of 1.3-1.5% from the prior range of 1.5-2.5% for fiscal 2019.
— The earnings guidance is tightened to the range of $1.44 to $1.48 per share from the previous range of $1.42 to $1.50 per share for the full year.
— Capital expenditures are still anticipated to be about $200 million for the full year 2019.
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