BJ's Wholesale Club Reports Quarterly Earnings of $35.8 Million

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Warehouse chain BJ's Wholesale Club (BJ) reported second quarter earnings of $35.8 million or 67 cents a diluted share, up from $35.1 million, or 64 cents a diluted share, a year earlier.

Total sales for the quarter ended July 31 were $2.7 billion, up 8.6% from the second quarter of 2009, the company said in a statement. Comparable club sales rose 4.4%, with a strong performance in gasoline sales.

BJ'S Wholesale Club lowered its guidance for the year ending January 29, 2011. The company now expects net income in the range of $128.5 million to $134.5 million, with earnings per diluted share of $2.40 to $2.50. The company previously forecast net income in the range of $136.9 million to $141.9 million.
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