In the fiscal third quarter ended Oct. 31, profit jumped to $122.8 million, or 88 cents a share, from $55.1 million, or 40 cents a share, in the year-earlier quarter.
Adjusted earnings per share more than doubled to 92 cents from 41 cents, topping the FactSet consensus analyst estimate of 65 cents.
BJ’s reported revenue of $3.73 billion, up 16% from a year earlier and more than the FactSet analyst consensus of $3.67 billion.
Same-store sales surged 18.5%, topping the forecast of a 15.5% gain.
Gross margin excluding gasoline sales and membership-fee revenue widened 0.1 percentage point.
BJ’s has benefited from heavy consumer shopping for staples during the coronavirus pandemic.
Its shares recently traded at $40.74, down 5.3%. The stock climbed 14% from Nov. 9 through Wednesday and has skyrocketed 89% year to date.
The third quarter saw "robust comp growth, significant market share gains and record profitability," Chief Executive Lee Delaney said in a statement.
"As we look ahead, we are confident our business will continue to thrive given the structural shift in consumer behavior, our market-share gains and our strategic investments in digital capabilities, membership, assortment, marketing and geographic expansion."
On Tuesday, analysts offered positive commentary for BJ’s competitor Costco (COST) - Get Report after it declared a $10-a-share special dividend.
The special dividend, Costco's fourth in eight years, is payable Dec. 11 to holders of record Dec. 2.
Costco said it would fund the $4.4 billion total payout with cash on hand.