2024-05-23 14:47:08 ET
Summary
- BJ's Wholesale Club Holdings, Inc. has seen increased costs with inflation and has passed those costs onto consumers.
- Net sales were up 4.2% to $4.92 billion, driven by positive comparable sales figures and digital sales growth.
- Margins contracted, with the merchandise gross margin rate decreasing by 50 basis points, and selling and administrative expenses rising.
BJ's Wholesale Club Holdings, Inc. ( BJ ) operates several hundred membership-only clubs in well over a dozen states. When you hear "membership club," you likely immediately think of large players like Walmart Inc.'s ( WMT ) Sam's Club and Costco Wholesale Corporation ( COST ). What we have in BJ's is a slow and steady grower. With a strong market, BJ's stock has melted up. The company has seen increased costs with inflation and has largely passed that on to its consumers....
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BJ's Wholesale Club: Maintaining A Quality Hold Following Decent Q1