BJ's Boosts Net 28 Percent in Second Quarter
August 17, 2011,
WESTBOROUGH, Mass.-A healthy sales gain, especially in gasoline, provided the fuel to BJ Wholesale Club's second quarter, which finished on July 30 with a gain of 28 percent in net income, to $45.7 million.
Net sales rose 11 percent to $3 billion, which included a same-club sales increase of 7.8 percent. While selling, general and administrative expenses rose 7.8 percent in dollar terms, they declined 26 basis points as a percentage of net sales to 8.4 percent. Gross margin was 8.9 percent, the same as it was in last year's second quarter.
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