March 5, 2008
Gas Prices Good For Wholesale Club
By Matthew L. Brown
Natick-based BJ's Wholesale Club Inc. says strong January sales pushed fourth quarter net earnings to $50.2 million compared to $11.9 million for same period the previous year.
The company said strong merchandise sales, favorable margins and the high profitability of gasoline sales combined with lower-than-expected expenses pushed up profits.
For the entirety of 2007, the company reported net income of $122.9 million compared to $72 million the previous year. Sales for the fourth quarter and full fiscal year came in at $2.4 billion and $9 billion respectively.
BJ's also released its February sales results, which say the company increased sales by 9 percent to $655 million compared to sales of $601 million last February.
The company said strong merchandise sales, favorable margins and the high profitability of gasoline sales combined with lower-than-expected expenses pushed up profits.
For the entirety of 2007, the company reported net income of $122.9 million compared to $72 million the previous year. Sales for the fourth quarter and full fiscal year came in at $2.4 billion and $9 billion respectively.
BJ's also released its February sales results, which say the company increased sales by 9 percent to $655 million compared to sales of $601 million last February.
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