BJ's Wholesale Club
met analysts' expectations for the latest third quarter, citing sales growth in new and established markets and effective expense control.
The discount and bulk retailer, which is based in Natick, Mass., reported net income of $27.4 million, or 37 cents a share, meeting the 11-analyst
First Call/Thomson Financial
consensus estimate. The company recorded income of $23.3 million, or 31 cents a share, in the same period a year ago.
Sales for the third quarter ended Oct. 28 rose 16.2% to $1.15 billion from $990.6 million last year. Same-store sales rose 5.7%. The company also said it will increase membership fees by $5 to $40 a year starting Jan. 1.
Shares of BJ's were recently trading up $1.81, or 6%, to $31.81 on the
New York Stock Exchange