BJ's Wholesale Club Reports December Sales Results; Reiterates Earnings Guidance for Fourth Quarter of 2007.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 that sales for December 2007 increased by 6.2% to $1.032 billion from $971.8 million in December 2006. On a comparable club basis, sales increased by 3.0% for the month of December, including a contribution from sales of gasoline of 1.7% and a negative impact from the absence of pharmacy sales of 0.3%. Severe snow storms in the Northeast during the month negatively affected comparable club sales results by approximately 1%. For the month of January 2008, the Company expects merchandise comparable club sales, excluding the impact of gasoline and pharmacy, to increase by 1% to 3%. Based on expected sales results for January, the Company reiterated its earnings guidance of $.70 to $.74 per diluted share for the fourth quarter of 2007. Full results for the fourth quarter are scheduled to be announced To be announced (TBA) A contract for the purchase or sale of an MBS to be delivered at an agreed-upon future date but does not include a specified pool number and number of pools or precise amount to be delivered. on March 5, 2008. [TABLE OMITTED] [TABLE OMITTED] The Company provided the following additional information regarding comparable club sales for December 2007: * On a comparable club basis, sales increased in all weeks except week three. The decrease in week three was due primarily to snow storms in the Northeast which severely hurt traffic. * Sales increased in all regions, with the largest increases in Upstate New York Upstate New York is the region of New York State north of the core of the New York metropolitan area. It has a population of 7,121,911 out of New York State's total 18,976,457. Were it an independent state, it would be ranked 13th by population. and Metro New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , and the lowest increases in the 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. and Southeast regions. * Excluding sales of gasoline, traffic decreased by approximately 2% and the average transaction amount increased by approximately 3%. The decrease in traffic was due primarily to the impact of snow storms in the Northeast during week three, partly offset by an increase in traffic generated by the annual holiday trial membership program. * Sales of food increased by approximately 6% and general merchandise sales decreased by about 3%. * Merchandise categories with the strongest sales increases compared to last year included candy, cheese, coffee, dairy, ice melt, juices, meat, paper products, pet foods and produce. Merchandise categories with the largest sales decreases versus last year included Christmas seasonal, cigarettes, electronics, furniture, jewelry, wine, music, prerecorded pre·re·cord tr.v. pre·re·cord·ed, pre·re·cord·ing, pre·re·cords To record (a television program, for example) at an earlier time for later presentation or use. Adj. 1. video and toys. The Company currently operates 177 BJ's Wholesale clubs in 16 states. BJ's introduced the wholesale club concept to New England in 1984 and has since expanded to become a leading warehouse chain in the eastern United States. BJ's press releases and filings with the SEC are available on the Internet at www.bjs.com. Fourth Quarter and Year-end Conference Call Scheduled for March 5, 2008 On Wednesday, March 5, 2008, BJ's management plans to announce the Company's financial results for the fourth quarter and full year ending February 2, 2008. Also on Wednesday, March 5, 2008, the Company plans to hold a conference call at 8:30 a.m. Eastern Time to discuss fourth quarter and full year results as well as the Company's outlook for 2008. To access the webcast, visit www.bjsinvestor.com/medialist.cfm. An archive of the webcast will be available for approximately ninety days. Forward-Looking Statements Statements contained in this press release that are not purely historical, including expected merchandise comparable club sales for January and earnings guidance for the fourth quarter, are forward-looking statements for purposes of the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions under The Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Actual results may differ materially from those indicated by these forward-looking statements. Factors that may cause or contribute to such differences include, without limitation, levels of gasoline profitability, levels of customer demand, economic and weather conditions, state and local regulation in the Company's markets, competitive conditions, success in settling lease obligations for closed clubs and credit and debit card debit card, card that allows the cost of goods or services that are purchased to be deducted directly from the purchaser's checking account. They can also be used at automated teller machines for withdrawing cash from the user's checking account. claims, and other factors discussed in the Company's Annual Report on SEC Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the fiscal year ended February 3, 2007 and subsequent quarterly reports on SEC Form 10-Q Form 10-Q See 10-Q. for the fiscal year ending February 2, 2008. Any forward-looking statements represent our estimates only as of today and should not be relied upon as representing our estimate as of any subsequent date. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so even if our estimates change. |
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