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BJ's Wholesale Club Navigates Challenges: Q1 Earnings Beat Estimates Amid Mixed Financial Metrics
BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) reported first-quarter FY24 revenue growth of 4.1% year-on-year to $4.918 billion, beating the analyst consensus estimate of $4.831 billion.
Total comparable club sales increased by 1.6%. Comparable club sales, excluding gasoline sales, increased by 0.6%.
Membership fee income increased by 8.6% to $111.4 million. Digitally enabled comparable sales climbed 21% Y/Y.
Gross profit rose 0.4% Y/Y to $883.4 million. Merchandise gross margin rate, which excludes gasoline sales and membership fee income, decreased by ...