BJ's Wholesale Club Reports February Sales 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 that sales for February 2008 increased by 9.0% to $655.7 million from $601.8 million in February 2007. On a comparable club basis, sales increased by 5.9% for the month of February 2008, including a contribution from sales of gasoline of 2.7%. For February 2007, the Company reported a comparable club sales increase of 3.0%, including a positive impact from gasoline sales of 0.9% and a negative impact from the absence of pharmacy sales of 0.4%. [TABLE OMITTED] [TABLE OMITTED] The Company provided the following additional information regarding comparable club sales for February 2008: * Comparable club sales gains exceeded 6% in weeks one and two and exceeded 10% in week four. During week three, sales were negatively impacted by heavy snow and rain in the Northeast. * Sales increased in all regions with the highest increase 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 the smallest increase in 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. . * Excluding sales of gasoline, traffic increased by approximately 1.0% and the average transaction amount increased by approximately 3.0%. * Sales of food increased by approximately 7% and general merchandise sales decreased by about 2%. * Departments with the strongest sales increases compared to last year included juices, frozen foods, health and beauty, meat, paper, pet foods, prepared foods, produce, snacks, televisions and toys. Weaker departments versus last year included apparel, cigarettes, furniture, 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, storage, tires and wine. For the first quarter of 2008, the Company expects merchandise comparable club sales, excluding the impact from sales of gasoline, to increase by 4% to 6%. Taking into account a calendar shift in the Easter holiday, the Company expects comparable club sales to increase by 1% to 3% in March, and 10% to 12% in April. All BJ's clubs will be closed on Sunday, March 23, 2008 for the Easter holiday. For the first quarter of 2007, merchandise comparable club sales, excluding the impact of gasoline and pharmacy, increased by 1.3%. Merchandise comparable club sales by month for the first quarter of 2007 increased by 2.5% in February and 3.8% in March, and declined by 2.9% in April. Including the impact of gasoline and pharmacy, comparable club sales increased by 3.0% in February and 5.5% in March, and declined by 2.1% in April. All BJ's clubs were closed on Sunday, April 8, 2007 for the Easter holiday. 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 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. . BJ's press releases and filings with the SEC are available on the Internet at www.bjs.com. Fourth Quarter and Fiscal Year-end Fiscal Year-End The completion of a one-year, or 12-month, accounting period. Notes: The reason that a company's fiscal year often differs from the calendar year and does not close on Dec 31, is due to the nature of company's needs. Conference Call Earlier this morning, BJ's management announced the Company's financial results for the fourth quarter and full year ended February 2, 2008. Also this morning, the Company will 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. The dial-in number is 913-312-1474. An archive of the webcast will be available for approximately ninety days. Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. Statements contained in this press release about expected sales and all other statements that are not purely historical 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 customer demand, economic and weather conditions, state and local regulation in the Company's markets and competitive conditions. These factors are 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 Form 10-Q Form 10-Q See 10-Q. . Any forward-looking statements represent our estimates only as of today and should not be relied upon as representing our estimates 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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