In an August 18th release, BJ’s Wholesale Club Holdings (BJ) announced second quarter results for the period ending July 30th 2022. The company posted net income of $141 million on total revenue of $5,104 million with an EPS of $1.03. Comparative values for the second quarter of FY2021 were net income of $110 million on revenue of $4,171 million with an EPS $0.80. For the second quarter BJ’S attained a gross margin of 16.9 percent and an operating margin of 4.0 percent
Comparable club sales, excluding fuel, increased by 7.6 percent. Digital sales increased by 47 percent. The company operates 229 stores with 160 fuel centers in 17 states.
In commenting on results, Bob Eddy, president and CEO stated, “Our strong results in the second quarter were led by gains in traffic and market share as we continued to deliver tremendous value across virtually every aspect of our business,” He added “Our relentless focus on investing in our long-term initiatives has put us in a place to capitalize on current trends and deliver this strong performance. Our member base is growing in both quality and size. We are improving our merchandising to offer more value. We are growing our digital business, offering more convenience and optionality for our members. We are expanding our footprint into new and existing markets with success. Our business model is designed to work well in the current consumer environment where value is king and we believe we are well-positioned for growth by doing what we do best – delivering great value to our members.”
Effective July 30th 2022, BJ’s posted total assets of $6,387 million including $1,129 goodwill and intangibles and carried long- term debt and lease obligations of $2,984 million. BJ’s has a market capitalization of $9,970 million and has traded over the past 52 weeks from $51.45 to $77.47 with a 50-day moving average of $60.64. BJ closed at $69.12 on Wednesday 17th but opened post release on Thursday 18th at $75.29. BJ trades with a forward P/E of 21.1. For the trailing-12 months the company posted an operating margin of 3.9 percent and a profit margin of 2.7 percent. The company returned 7.6 percent on assets and 72.7 percent on equity.