May 21, 2008
Q1 Sales, Profits Up At BJ's
By Eileen Kennedy
BJ’s Wholesale Club of Natick reported an increase in its sales and profits during the first quarter of 2008, compared to the same time last year.
The company’s net income for the first quarter of 2008 was $17.2 million, compared to $13.7 million for the same period last year.
BJ’s saw net sales rise by 12.3 percent to $2.26 billion, compared to $2.01 billion for the same time last year. Comparable club sales increased by 9.6 percent in the first quarter of 2008, and 3.9 percent came from gasoline sales.
During the first quarter, the company bought 925,000 of its common stock shares at an average cost of $31.95, for a total of about $30 million. It is part of a planned buyback of company stock, and it has another $145 million for that purpose.
The company’s net income for the first quarter of 2008 was $17.2 million, compared to $13.7 million for the same period last year.
BJ’s saw net sales rise by 12.3 percent to $2.26 billion, compared to $2.01 billion for the same time last year. Comparable club sales increased by 9.6 percent in the first quarter of 2008, and 3.9 percent came from gasoline sales.
During the first quarter, the company bought 925,000 of its common stock shares at an average cost of $31.95, for a total of about $30 million. It is part of a planned buyback of company stock, and it has another $145 million for that purpose.
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