The fourth quarter was solid for BJ’s Wholesale Club, with an earnings beat on Wall Street estimates even if revenues were not quite in line with a Yahoo Finance-published prediction.
Adjusted for one-time events, net income was $109.9 million, or 80 cents per diluted share, versus $97.2 million, or 70 cents per diluted share, in the year-previous period.
A Yahoo Finance-published analyst consensus estimate for adjusted earnings per share was 74 cents, and for revenue, it was $4.38 billion.
Comparable sales in the quarter, excluding fuel contribution, increased 0.9% from the 2020 period, according to BJ’s, reflecting a two-year stacked comp of 16.8%. Digital comp sales gained 19%, with two-year stacked comp growth at 187%.
Net sales were $4.26 billion and net revenues $4.36 billion versus $3.86 billion and $3.95 billion, respectively, in the year-earlier quarter, the company reported.
Income from continuing operations was $426.8 million, or $3.09 per diluted share, for the full fiscal year, versus $421.2 million, or $3.03 per diluted share, in the year before, the company indicated.
Adjusted net income was $448.9 million, or $3.25 per diluted share, versus $429 million, or 3.09 per diluted share, in the year previous.
Net sales were $16.31 billion and net revenue was $16.67 billion versus $15.1 billion and $15.43 billion, respectively, in the year-earlier, the company noted.
In announcing the financial results, Bob Eddy, BJ’s president and CEO, said, “2021 was the best year in the company’s history. Our strong financial results were underpinned by continued membership base expansion, a growing digital business and significant progress on key initiatives such as our real estate pipeline. We remain focused on our strategic priorities to drive long-term growth: attracting and retaining high-quality members, delivering value, improving convenience through our digital offerings and expanding our footprint. The future of our company is bright.”
