BJ’s Wholesale Club stock price target raised to $28 vs. $27 at Instinet

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BJ’s Wholesale stock set to rally after adjusted profit, sales rise above expectations

Shares of BJ’s Wholesale Club Holdings Inc. were indicated up over 1% in premarket trade Wednesday, after the membership-based warehouse retailer reported fiscal fourth-quarter profit and sales that beat expectations. Net income for the quarter to Feb. 2 fell to $64.3 million, or 46 cents a share, from $66.7 million, or 71 cents a share, in the year-ago period. Excluding non-recurring items, adjusted EPS rose to 44 cents from 36 cents, above the FactSet consensus of 36 cents. Total revenue declined 3.9% to $3.42 billion, but beat the FactSet consensus of $3.36 billion, as membership fee income jumped 11% to $73.1 million. Same-store sales rose 2.9%, beating expectations of 2.1% growth. For 2019, the company expects EPS of $1.42 to $1.50, surrounding the FactSet consensus of $1.47, and net sales of $12.9 billion to $13.2 billion, below expectations of $13.4 billion. The stock has rallied 12.7% over the past three months, while the SPDR S&P Retail ETF has gained 1.5% and the S&P 500 has tacked on 3.5%.

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