BJ’s on track to open 11 new stores
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BJ's Wholesale Club at 777 Washington St. in Auburn
Marlborough discount retailer BJ’s Wholesale Club’s plans to open 11 new stores by the end of the fiscal year remain on track.
BJ’s announced the expansion progress on Thursday when the public released the report on its second-quarter earnings, where it had $141 million in profit on $5 billion in net sales.
Income from membership fees increased 11.3% year over year.
In May, the company purchased four distribution centers and a transportation fleet from Burris Logistics of Delaware for $375.6 million.
“Our outlook on the business is strong given the sustained strength in our grocery business and our gains in market share. We expect fiscal year 2022 comparable club sales growth, excluding the impact of gasoline sales, to be in the 4%-5% range, up from our original guidance of low single digit.” Laura Felice, executive vice president and chief financial officer, said in a Thursday press release.
Following the announcement Thursday, BJ’s stock price on the New York Stock Exchange shot up 10% to $75.86 per share, up from $69.12 at the close of trading on Wednesday. The stock price has come down slightly and was trading at $73.10 on Monday morning.
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