BJ’s Wholesale quarterly profits rise to $127M, as stock soars
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 reported a profit of $126.7 million for the company’s third quarter in a Thursday announcement.
This new figure demonstrates a 3% growth when compared to last year’s profits of $122.7 million.
In trading on the New York Stock Exchange on Thursday, BJ's stock price had increased 15.5% to $69.29 per share. By comparison, the S&P 500 index was trading down about 0.3% on Thursday morning.
Club sales increased by 13.1% in the third quarter, according to the press release, with revenues hitting $4.3 billion vs. $3.7 billion in the third quarter 2020.
On Nov. 16, BJ’s Wholesale initiated a new share repurchase program, which allows the company to buy back $500 million of its outstanding common stock. The program will expire in Jan. 2025.
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