Department store chain BJ’s Wholesale Club Holdings, Inc. (NYSE: BJ) has reported financial results for the third quarter of 2024, reporting a 3% increase in net sales.
Adjusted earnings, on a per-share basis, rose 18% year-over-year to $1.18 in Q3; reported earnings per share was $1.17, up 21%Third-quarter net income advanced to $155.7 million from $130.5 million reported in the year-ago quarterNet sales increased 3% annually to $4.98 billion in the October quarterComparable club sales increased by 1.5% year-over-year in the third quarterComparable club sales, excluding gasoline sales, increased by 3.8%, aided by strong traffic and unit growthDigitally enabled comparable sales growth was 30% year-over-year in Q3; membership fee income rose 8.4% to $115.0 millionDuring the quarter, merchandise gross margin rate increased by 20 basis points year-over-yearThe company opened three new clubs and four new gas stations during the three months
The post Earnings Summary: Highlights of BJ’s Wholesale Club’s Q3 2024 results first appeared on AlphaStreet.
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