On August 20, 2009
Headwinds Might Hinder but Won’t Thwart BJ’s
BJ’s is looking at some headwinds that might slow its run of success in the recession, including the impact of food deflation, but edibles should buoy the operation as the company adds clubs to sustain its momentum. In the second quarter, food deflation, along with fuel price volatility, weather effects in the Northeast and a wary consumer pressured top line and comparable store sales, but the company managed to post positive comps in its merchandise operations. In the second quarter ended Aug. 1, BJ’s sales decreased by 5.2 percent to $2.5 billion. Net income was 64 cents per diluted share versus 61 cents in the year earlier period, beating an analyst estimate of 62 cents per share. Comparable store sales…
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