: BJ's Wholesale Club tops Q3 estimates and announces up to 0 million share buyback program #FinanceUSA #StockMarketNEWS BJ's Wholesale Club Holdings Inc. posted stronger-than-expected earnings
@stockMarketNEWS 9 Days ago
BJ's Wholesale Club tops Q3 estimates and announces up to 0 million share buyback program #FinanceUSA #StockMarketNEWS
BJ's Wholesale Club Holdings Inc. posted stronger-than-expected earnings for its third quarter on Thursday and said its board has approved a share buyback program of up to 0 million. The Westborough, Mass.-based wholesaler posted net income of 6.5 million, or 92 cents a share, for the quarter, up from 2.8 million, or 88 cents a share, in the year-earlier period. Adjusted per-share earnings came to 91 cents, well ahead of the 81 cent FactSet consensus. Revenue rose to .264 billion from .732 billion, also ahead of the .929 billion FactSet consensus. "Our business accelerated during Q3 on broad based strength, and we saw growth in all of our divisions, with acceleration in traffic and ticket, growth in digitally-enabled sales and conventional sales, all underpinned by strong membership statistics in both new and tenured members," Chief Executive Bob Eddy said in a statement. Same-store sales rose 13.1% to beat the FactSet consensus for a 1.7% decline. The company said it is not offering guidance because of external factors and uncertainties in the market. Shares were not yet active premarket but have gained 61% in the year to date, while the S&P 500 has gained 25%.