With robust same-store sales growth, significant market share gains and record profitability, it’s no wonder that BJ’s Wholesale Club CEO Lee Delaney called the company’s third-quarter performance “remarkable.”
Same-store sales, excluding fuel, increased 18.5% and digitally enabled sales increased 200% during the third quarter ended Oct. 31, compared with the prior year. Both figures are a deceleration from the second quarter when BJ’s reported a 24.2% comp increase and digitally enabled sales growth of more than 300%. Conversely, there was a slight acceleration in membership fee income, which advanced 11% to $85 million, compared with the prior year, whereas in the second quarter, membership income increased 10.4%.
Not reflected in BJ’s third-quarter performance is the impact of the addition of fresh and frozen grocery items, which were added to the company’s click-and-collect offering just days before the end of the third-quarter reporting period.Retail Leader