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BJ's Wholesale Club, Inc. Reports Record First Quarter Financial Results; EPS Rose 29.2%.
Business Editors
NATICK, Mass.--(BUSINESS WIRE)--May 22, 2001
BJ's Wholesale Club, Inc. (NYSE:BJ) today reported that net income for its first quarter ended May 5, 2001 rose 26.9% to $23.0 million from $18.1 million recorded in the first quarter of 2000. Diluted earnings per share rose 29.2% to $.31 from $.24 last year.
Net sales for the quarter rose 11.1% to $1.134 billion from $1.021 billion recorded in 2000. Comparable club sales for the quarter increased by 4.4%.
Jack Nugent, president and chief executive officer, said, "BJ's quarterly financial results reflect good sales, with a favorable merchandise mix, and excellent expense controls. We are pleased to note that the first quarter was BJ's thirty-second consecutive quarter of improved profitability."
The company also announced it repurchased 359,700 shares of stock during the first quarter at an average cost of $43.56 per share, or a total of $15.7 million.
Conference Call on First Quarter Financial Results
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