Comparable club sales increased 24.2%

WESTBOROUGH, Mass. — BJ’s Wholesale Club Holdings Inc. reported that comparable club sales (excluding gasoline sales) increased by 24.2% in the third quarter ended August 1, and digitally enabled sales growth was more than 300%. The company said earnings per diluted were $0.76, reflects year-over-year growth of 94.9%.

“We continue to be extremely grateful for the dedication of our team members, who have exemplified our core values and continue to serve our members and communities during these difficult times” BJ’s Wholesale Club president and CEO Lee Delaney said. “We delivered another remarkable quarter with strong comp growth and record profitability. Our business has been transformed and strengthened in the last six months by every measure. We are extremely well positioned to continue to win as we invest in digital capabilities, membership, assortment, marketing and geographic expansion to further accelerate this transformation.”

Comparable club increased 17.2% in the second quarter compared to the year ago period, or 24.2% when the impact of gasoline sales is excluded.

Gross profit increased to $756.4 million in the quarter, up from $612.8 million in year ago period. Merchandise gross margin rate, which excludes gasoline sales and membership fee income, remained flat over the second quarter of fiscal 2019. The company said that continued execution of its category profitability improvement, and improved sales performance in its general merchandise business, was offset by cost inflation of certain commodities, most notably beef, and distribution costs associated with the coronavirus pandemic.

Operating income increased to $163.6 million, or 4.1% of total revenues in the quarter, up from $98.7 million, or 3.0% of total revenues, in the second quarter of fiscal 2019.