Warehouse clubs operator BJ's Wholesale Club, Inc. (BJ), Thursday reported an 8.4% increase in January sales on a comparable club basis, while total sales increased 13.0%.
January sales, on a comparable club basis, increased 8.4%, including a contribution from sales of gasoline of about 5.5%. Excluding gasoline sales, merchandise comparable club sales grew 2.9% in January.
Sales increased in weeks one, two and three, with the largest increase in week two. Sales decreased in week four, due primarily to the calendar shift in the timing of the Super Bowl from week four in January, 2009 to week one of February, 2010.
The company also reported total sales for January of $742.6 million, up 13.0% from $656.9 million in the previous year.
In 2009, the company reported a comparable club sales decrease of 0.7% for the month of January, including a negative impact from sales of gasoline of 8.3%. Excluding gasoline sales, merchandise comparable club sales increased 7.6% in January 2009.
For the fourth quarter, total sales increased 9.4% to $2.74 billion, and comparable club sales increased 4.6%, including a contribution from sales of gasoline of 2.3%.
For the year ended January 30, 2010, total sales rose 1.6% to $9.95 billion and comparable club sales decreased 1.9%, including a negative impact from sales of gasoline of 5.9%.
Merchandise departments with the strongest sales increases compared to last year, and included apparel, breakfast foods, candy, cigarettes, dairy, frozen, health and beauty aids, household chemicals, housewares, juices, paper products, produce, residential furniture, small appliances and tires. Weaker departments as compared to last year included automotive and tools, pre-recorded video, sporting goods, televisions and trash bags.
BJ's plans to announce financial results for the fourth quarter and year ended January 30, 2010, as well as sales results for the month of February 2010, on Wednesday, March 3, 2010.
BJ is currently trading at $34.32, down 0.51 or 1.46%, on a volume of 1.26 million shares on the NYSE.
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