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Why BJ’s Wholesale Club (BJ) Stock Is Sliding Today – BJ’s Wholesale Club (NYSE:BJ) – Stocks to Watch
  • Fri. May 17th, 2024
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Why BJ’s Wholesale Club (BJ) Stock Is Sliding Today – BJ’s Wholesale Club (NYSE:BJ)

ByShivani Kumaresan

Nov 17, 2022
Why BJ's Wholesale Club (BJ) Stock Is Sliding Today - BJ's Wholesale Club (NYSE:BJ)

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  • BJ’s Wholesale Club Holdings Inc BJ reported third-quarter FY22 sales growth of 12.3% year-on-year to $4.79 billion, beating the consensus of $4.69 billion.

  • Total comparable club sales increased by 9.7%. Comparable club sales, excluding gasoline sales, increased by 5.3%.

  • Membership fee income increased by 8.7% to $99.5 million.

  • Gross profit rose 10.9% Y/Y to $877.1 million with a margin of 18.3%.

  • Merchandise gross margin rate, which excludes gasoline sales and membership fee income, decreased by 30 basis points Y/Y.

  • The operating margin was 4%, and operating income for the quarter rose 12.8% to $191.9 million.

  • Adjusted EBITDA of $272.3 million increased 19.2% Y/Y.

  • Adjusted EPS of $0.99 beat the analyst consensus of $0.81.

  • BJ’s Wholesale Club held $34.6 million in cash and equivalents as of October 29, 2022.

  • Cash provided by operating activities for the nine months totaled $616.1 million.

  • Outlook: BJ’s Wholesale raised its FY22 EPS guidance to $3.70 – $3.80 from the previous estimate of $3.50 – $3.60 versus an estimate of $3.61.

  • BJ expects FY22 comparable club sales growth, excluding the impact of gasoline sales, to be in the 5%-5.5% (prior 4%-5%) range.

  • BJ expects continued merchandise margin rate pressure.

  • Price Action: BJ shares traded lower by 6.11% at $73.57 on the last check Thursday.

  • Photo Via Company

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Image and article originally from www.benzinga.com. Read the original article here.

Shivani Kumaresan

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