NATICK, Mass.–BJ’s Wholesale Club firmed its bottom line by 7.2 percent to $26.1 million in the first quarter.
The warehouse-club retailer rode the wave of a 13 percent gain in net sales, to $2.5 billion. This included a 7.8 percent increase in comparable-club sales, and also encompassed a contribution of 3.6 percent from sales of gasoline. BJ’s gross margin of 8.5 percent was essentially flat compared to last year’s first quarter, while selling, general and administrative expenses jumped 12 percent.
Based on the first quarter, BJ’s now expects the current fiscal year to produce net income of between $136.9 million and $141.9 million—up from the previous forecast of from $133.1 million to $138.1 million.