To wrap up a rollercoaster earnings week for retail, BJ’s Wholesale Club took the spotlight with an 8% jump in trading following the company’s Q1 earnings report. 🥳 The Massachusetts-based warehouse club excited investors with its ability to keep costs low despite climbing inflation.
BJ’s Wholesale Club Holdings Inc gained 7.43% in trading today thanks to the company’s favorable Q1 financials. The company posted a beat on EPS with adj. earnings of $0.87 per share (+39% YoY), as opposed to Wall St. estimates of $0.71 per share. In terms of revenue, BJ’s scored $4.5 billion, an increase of +16.2% YoY, which beat estimates of $4.24 billion.
The company’s CFO commented on BJ’s performance and forward guidance in spite of looming inflation: “We are pleased with our performance in the first quarter and remain optimistic that the strength of our core business will continue to drive long-term growth. Our fiscal year 2022 EPS outlook of flat year-over-year remains unchanged.” 👏 👏
Check out $BJ’s intraday chart: