BUZZ-BJ's Wholesale Club rises on quarterly results beat

Reuters
07 Mar
BUZZ-BJ's Wholesale Club rises on quarterly results beat

** Shares of warehouse club chain BJ's Wholesale Club BJ.N up 12.3% at $112.41

** Company posts a Q4 membership fee income increase of 7.9% from a year ago at $117 million, compared to analysts' expectations of $116 million, according to data compiled by LSEG

** Reports Q4 comparable club sales, excluding gasoline sales, of 4.6% year-over-year, led by traffic, compared to expectations of 2.95%

** On an adjusted basis earns 93 cents per share in the fourth quarter, beating analysts' estimates of 88 cents

** "We believe the Street will be incrementally encouraged by the company's strong traffic-led comp growth, with the second half of 2024 averaging 4.2%, putting the company in line with some of the best-in-class retailer" - William Blair analyst Phillip Blee

** BJ stock up about 26% YTD, including session's moves

(Reporting by Aamir Sohail in Bengaluru)

((Aamir.Sohail@thomsonreuters.com;))

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