Shares of BJ’s Wholesale Club Holdings Inc.
BJ,
slid 1.9% toward a four-month low in premarket trading Tuesday, after the membership-based warehouse retailer reported fiscal first-quarter profit that matched expectations but revenue that missed. Net income for the quarter to April 29 rose to a record $116.1 million, or 85 cents a share, from $112.5 million, or 82 cents a share, in the year-ago period. The FactSet consensus for earnings per share was 85 cents. Revenue grew 5.0% to $4.72 billion, but was below the FactSet consensus of $4.82 billion, as same-store sales growth of 5.7% missed expectations of a 6.1% rise. “Our fiscal 2023 outlook on our business remains unchanged given the sustained strength in our grocery business and our gains in market share,” said Chief Financial Officer Laura Felice. The company said in early March that fiscal 2023 EPS was expected to remain approximately flat and same-store sales were expected to be up 4% to 5%. The stock has gained 5.2% year to date through Monday, while the S&P 500
SPX,
has advanced 9.2%.
