BJ's Misses Estimates, Lowers Guidance
NATICK, Mass. (
) --
BJ's Wholesale Club
(BJ) - Get BJ's Wholesale Club Holdings Inc. Report
posted a slight rise in second-quarter earnings but the per-share numbers came in below analysts' estimates, and the retailer lowered its guidance for the year.
BJ's on Wednesday reported second-quarter net income of $35.8 million, or 67 cents a share, up from year-earlier earnings of $35.1 million, or 64 cents a share. Analysts surveyed by Thomson Reuters expected the retailer to earn 73 cents a share in the second quarter.
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BJ's said sales for the quarter rose by 8.6% to $2.7 billion, while comparable-store sales increased by 4.4%. Analysts forecasted sales of $2.8 billion.
For the full year ending in January, BJ's lowered its expectations and now expects to report net income in the range of $128.5 million to $134.5 million, or $2.40 to $2.50 a share. Previous guidance, provided in May, called for net income of $136.9 million to $141.9 million, or $2.58 to $2.68 a share.
BJ's expects net sales for the fiscal year to rise 8% to 10% with a comparable-store sales rise of 4% to 6%, including a contribution from gasoline sales of 0.5% to 2.5%. BJ's previously expected fiscal-year net sales to rise 9.2% to 11.2%.
Analysts expect BJ's to post fiscal-year earnings of $2.67 a share on sales of $11.1 billion.
-- Reported by Joseph Woelfel in New York.
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