BJ's Wholesale Club Reports $5B in Q3 Net Sales

By Bobby Samwell • Wednesday, November 27 15:18 • Permanent Link

BJ's Wholesale Club Holdings, Inc. has recently released its 10-Q report, providing an in-depth look at the company's financial condition and results of operations. BJ's Wholesale Club operates warehouse clubs on the eastern half of the United States, offering groceries, general merchandise, gasoline, and other ancillary services. The company's net sales for the third quarter of fiscal year 2024 were $5.0 billion, representing a 3.4% increase from the same period in fiscal year 2023. For the first nine months of fiscal year 2024, net sales were $14.9 billion, a 4.1% increase from the same period in fiscal year 2023.

Comparable club sales, a key performance indicator, increased by 1.5% in the third quarter of fiscal year 2024 and by 2.0% for the first nine months of fiscal year 2024. Membership fee income also saw growth, reaching $115.0 million in the third quarter of fiscal year 2024, an 8.4% increase from the same period in fiscal year 2023. The company attributed this increase to strength in membership acquisition and retention across both new and existing clubs.

Cost of sales for the third quarter of fiscal year 2024 was $4.1 billion, or 82.7% of net sales, compared to $4.0 billion, or 83.5% of net sales, in the third quarter of fiscal year 2023. Selling, general and administrative expenses (SG&A) increased by 5.2% to $733.6 million in the third quarter of fiscal year 2024 from $697.1 million in the third quarter of fiscal year 2023.

BJ's Wholesale Club also reported adjusted net income and adjusted EBITDA as important measures used by management to compare the performance of core operating results between periods. Adjusted net income for the third quarter of fiscal year 2024 was $157.3 million, compared to $135.5 million for the same period in fiscal year 2023. Adjusted EBITDA for the third quarter of fiscal year 2024 was not provided in the report.

The company's 10-Q report provides detailed insights into its financial performance, indicating growth in net sales, membership fee income, and adjusted net income, while also highlighting increases in cost of sales and SG&A expenses. Following these announcements, the company's shares moved -0.3%, and are now trading at a price of $96.79. For the full picture, make sure to review BJ's Wholesale Club's 10-Q report.

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