BJ’s Wholesale profits rise to $111M in second quarter
Photo | Grant Welker
BJ's Wholesale Club headquarters in Westborough. The company announced it's opening four new locations over the next few months.
Westborough bulk retailer BJ’s Wholesale Club in Westborough reported a profit of $111 million for the company’s second quarter, according to a financial statement released on Thursday.
This new net income shows a growth of 4.1% when compared to last year’s second quarter profits of $106.6 million.
“We drove outstanding membership results, expanded our market share and continued to benefit from elevated consumer spending trends," said Bob Eddy, president and CEO of BJ’s Wholesale Club, in a press release announcing the earnings.
In trading on the New York Stock Exchange on Thursday, BJ's stock price had increased about 4% to $54.07 per share. This compares to a 0.5% for the Dow Jones Industrial Average.
According to the release, first-year membership renewal rates resulted in an increase of membership fee income by 8.1% when compared to prior-year figures.
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