Department store chain BJ’s Wholesale Club Holdings, Inc. (NYSE: BJ) has reported financial results for the third quarter of 2024, reporting a 3% increase in net sales.
- Adjusted earnings, on a per-share basis, rose 18% year-over-year to $1.18 in Q3; reported earnings per share was $1.17, up 21%
- Third-quarter net income advanced to $155.7 million from $130.5 million reported in the year-ago quarter
- Net sales increased 3% annually to $4.98 billion in the October quarter
- Comparable club sales increased by 1.5% year-over-year in the third quarter
- Comparable club sales, excluding gasoline sales, increased by 3.8%, aided by strong traffic and unit growth
- Digitally enabled comparable sales growth was 30% year-over-year in Q3; membership fee income rose 8.4% to $115.0 million
- During the quarter, merchandise gross margin rate increased by 20 basis points year-over-year
- The company opened three new clubs and four new gas stations during the three months
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