BJ's Wholesale Club Reports Strong Gains in Second Quarter Fiscal 2022 Results; Bob Eddy Details
MARLBOROUGH, MA - Strong gains headline BJ’s Wholesale Club’s latest financial earnings report. The company recently reported its financial results for its second quarter fiscal 2022, noting higher club sales and membership fee income were on the rise.
“Our strong results in the second quarter were led by gains in traffic and market share as we continued to deliver tremendous value across virtually every aspect of our business,” said Bob Eddy, President and Chief Executive Officer. “Our relentless focus on investing in our long-term initiatives has put us in a place to capitalize on current trends and deliver this strong performance.”
According to a press release, the chain’s second quarter fiscal 2022 highlights included:
- Total comparable club sales increased by 19.8 percent year-over-year
- Comparable club sales, excluding gasoline sales, increased by 7.6 percent year-over-year
- Membership fee income increased by 11.3 percent year-over-year to $98.8 million
- Digitally enabled sales growth was 47.0 percent year-over-year
- Expansion plans remain on track with 11 new club openings expected in fiscal year 2022
Other notable mentions include the acquisition of four distribution centers and related private transportation fleet from Burris Logistics, bringing its end-to-end perishable supply chain in-house.
“Our member base is growing in both quality and size. We are improving our merchandising to offer more value,” added Eddy. “We are growing our digital business, offering more convenience and optionality for our members. We are expanding our footprint into new and existing markets with success. Our business model is designed to work well in the current consumer environment where value is king, and we believe we are well-positioned for growth by doing what we do best—delivering great value to our members.”
AndNowUKnow will continue to report on the latest in the retail sector, so keep an eye out for us in your inbox.