Gas Sales Drive BJ's Q1 Income Rise

WESTBOROUGH, Mass.-With sales of food and gasoline pushing overall net sales up by double digits, and with the company's ability to keep expenses steady, BJ's Wholesale Club enjoyed a 29 percent increase in net income in its first quarter, to $33.7 million.

Net sales grew 10 percent to $2.8 billion in the quarter, which ended on April 30, bolstered by a 4 percent increase in food sales and a 3.9 percent rise in same-club gas sales. BJ's also said small appliances delivered a strong performance in comparable-club sales. Laura Sen, president and CEO, said the sales gain was above the company's expectations for the quarter.

While selling, general and administrative expenses rose 4.7 percent in dollars in the quarter, they declined 43 basis points as a percentage of net sales to 8.6 percent. This helped offset a drop of 22 basis points in gross margin to 8.5 percent.

BJ's said it now expects net income for the full fiscal year to finish between $147 million and $157 million, which would be a gain of between 55 percent and 65 percent over last year's bottom line.

HFN Staff | News & Commentary

HFN provides detailed information on the key home classifications: Housewares, Tabletop, Floor Covering & Rugs, Furniture, Home Textiles, Lighting, Home Decor, Mattresses & Bedding, Gifts, Major Appliances and Consumer Electronics as well as Business, Finance and Retail.


  • Patti Carpenter Talks Color and its Importance in the Home

    Camera Icon   More Videos

Subscribe to
HFN Omnichannel
Receive the news you need to know about the trends in the industry delivered right to your inbox.

Current Issue

  • HFN August 2017 cover


    August 2017

    COVER STORY: Sharpening the Focus on Millennials

    Find out what makes Millennials tick when it comes to home decorating, shopping and at-home entertaining with HFN's annual consumer study. Turns out, Millennials favor the in-store shopping experience.


    • Power of the People - Crowdfunding campaigns provide needed capital, feedback for home and housewares product launches.
    •  Omnichannel Retailing: Visual Search Takes Off - Learn how voice and visual search are revolutionizing product discovery.