Kudlow says China will be ‘held accountable’ over coronavirus pandemic

1 BUSINESS

Business News - Opportunities - Reviews

 

 

BJ’s Wholesale stock surges after profit and sales rise well above expectations

Shares of BJ’s Wholesale Club Holdings Inc. surged 3.6% in premarket trading Thursday, after the membership-based warehouse retailer reported fiscal first-quarter results that were well above expectations, as the COVID-19 pandemic “increased demand for our services.” Net income for the quarter to May 2 rose to $95.7 million, or 69 cents a share, from $35.8 million, or 25 cents a share, in the year ago period. Excluding non-recurring items, adjusted earnings per share came to 69 cents, above the FactSet consensus of 36 cents. Total revenue increased 20.8% to $3.80 billion, above the FactSet consensus of $3.32 billion, as net sales rose 21.1% and membership fee income increased 8.4%. Same-store sales jumped 19.9%, or increased 27.0% excluding gasoline sales, as digitally enables sales rose 350%. The FactSet same-store sales consensus was for 5.8% growth. The stock has run up 35.1% over the past three months through Wednesday, while the S&P 500 has lost 11.0%.

1 BUSINESS

Business News - Opportunities - Reviews

 

 

Leave a Reply