BJ's Wholesale Club Announces First Quarter Results.NATICK, Mass. -- BJ's Wholesale Club BJ's Wholesale Club, Inc. NYSE: BJ is a membership-only warehouse club chain operating in the East Coast of the United States, as well as in the state of Ohio. History , Inc. (NYSE NYSE See: New York Stock Exchange : BJ) today reported net income for the first quarter of 2007 of $13.7 million, or $.21 per diluted share. These results included income of $0.6 million post-tax, or $.01 per diluted share, from the sale of pharmacy-related assets. For the first quarter of 2006, the Company reported net income of $15.4 million, or $0.23 per diluted share. Results for the first quarter of 2006 included income of $2.1 million post-tax, or $0.03 per diluted share, for House2Home bankruptcy recoveries and an operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. of $1.3 million post-tax, or $0.02 per diluted share, related to the ProFoods loss within discontinued operations Discontinued operations Divisions of a business that have been sold or written off and that no longer are maintained by the business. . Net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight for the first quarter of 2007 rose by 7.5% to $2.0 billion from $1.9 billion for the first quarter of 2006. Comparable club sales for the first quarter of 2007 increased by 2.3%, including a contribution from gasoline sales of 1.4% and a negative impact of 0.4% from the absence of pharmacy sales versus last year. For the first quarter of 2006, the Company reported a comparable club sales increase of 2.0%, including a contribution from sales of gasoline of 1.4%. During the first quarter, the Company purchased 500,000 shares of BJ's common stock at an average cost of $33.91 per share, or approximately $17 million, leaving approximately $37 million remaining under the current authorization. Conference Call Information for First Quarter Financial Results As previously announced, at 8:30 a.m. Eastern Time today, BJ's management plans to hold a conference call to review first quarter results and to discuss its outlook for the remainder of 2007. To access the webcast, visit www.bjsinvestor.com/medialist.cfm to hear the call live, or to listen to an archive of the call, which will be available for approximately ninety days following the call. About BJ's Wholesale Club BJ's introduced the wholesale club concept to New England New England, name applied to the region comprising six states of the NE United States—Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut. The region is thought to have been so named by Capt. in 1984, and has since expanded to become a leading warehouse chain in the eastern United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The Company currently operates 173 BJ's Wholesale Clubs in 16 states. BJ's press releases and filings with the SEC are available on the Internet at www.bjsinvestor.com. [TABLE OMITTED] [TABLE OMITTED] [TABLE OMITTED] [TABLE OMITTED] |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion