BJ's Wholesale Club Reports May Sales.Business Editors NATICK, Mass.--(BUSINESS WIRE)--June 6, 2002 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. (BJ: NYSE NYSE See: New York Stock Exchange ) today reported that sales for May increased by 13.6% to $455.1 million from $400.7 million in May 2001. Comparable club sales rose 3.3% for the month. Commenting on the results, BJ's president and chief executive officer, Jack Nugent, said, "BJ's sales for May reflect continued strength across many categories of food and consumables, as well as in jewelry, furniture and seasonal merchandise."
Sales Results for May
($ in thousands)
Four Weeks Ended % Change
June 1, June 2, Net Comp.
2002 2001 Sales Sales
----------- ----------- --------- ---------
$ 455,135 $ 400,721 13.6% 3.3%
17 Weeks Ended % Change
June 1, June 2, Net Comp.
2002 2001 Sales Sales
----------- ----------- --------- ---------
$1,715,197 $1,534,893 11.7% 3.8%
The Company provided the following additional information on May sales: Comparable club sales increases were softest in week one, primarily due to unseasonably cool and wet weather, and strongest in week four. By major market, comparable club sales increases were highest in the Southeast and lowest 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. . Gasoline sales had a slightly negative impact on comparable club sales due to significant price deflation deflation: see inflation. deflation Contraction in the volume of available money or credit that results in a general decline in prices. A less extreme condition is known as disinflation. . Food categories with strong sales increases included beer and wine, cereals, fresh produce, liquor, pet foods, snacks, tobacco and water. Weaker food categories included coffee and tea, cookies, dairy and pre-packaged meats. Strong general merchandise categories included air conditioners and fans, automotive, domestics, health and beauty aids, jewelry, 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. media and summer seasonal. Weaker categories of general merchandise included men's apparel, small appliances and tires. Comparable club sales increases for the second quarter of fiscal 2002 are expected to be in the range of 3% to 5%. BJ's introduced the warehouse 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 134 clubs compared with 118 clubs one year ago. In fiscal May, BJ's opened a gas station in Virginia Beach, Virginia Virginia Beach is an independent city located in the South Hampton Roads area in the Commonwealth of Virginia, on the shores of the Chesapeake Bay and the Atlantic Ocean. It is the most populous city in Virginia and the 41st largest city in the United States, with an estimated , ending the month with a total of 58 gas stations in operation compared with 36 gas stations one year ago. BJ's press releases and filings with the SEC are available on the Internet at www.bjs.com. 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. Any statements about management's future expectations and the Company's plans and prospects, including statements about anticipated future sales, are intended to indicate forward-looking statements for purposes of the SEC's "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. " rules. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including those discussed in the Company's annual and quarterly filings with the SEC. In addition, any forward-looking statements represent the Company's estimates only as of the date of this press release and should not be relied upon as representing the Company's estimates as of any later date. While the Company may elect to update its forward-looking statements, the Company specifically disclaims any obligation to do so, even if the Company's estimates change. |
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