BJ's Wholesale Q3 Earnings Top, FY24 View Up, Membership Hike Ahead

Zacks11-23 04:00

BJ’s Wholesale Club Holdings, Inc. BJ reported its third-quarter fiscal 2024 results, showcasing mixed performance. While revenues fell short of the Zacks Consensus Estimate, earnings surpassed ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2485754210?lang=en_US&edition=fundamental","thumbnail":"https://s.yimg.com/uu/api/res/1.2/Zjqp1Fxtk7cSGM5CtuRPQw--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/1a861beafb7e014dbe41f31ff9adfc30","is_english":true,"pubTime":"2024-11-23 04:00","share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","id":"2485754210","market":"us","top_or_hot":-1,"title":"BJ's Wholesale Q3 Earnings Top, FY24 View Up, Membership Hike Ahead","media":"Zacks","content":"<div>\n<p>BJ’s Wholesale Club Holdings, Inc. BJ reported its third-quarter fiscal 2024 results, showcasing mixed performance. While revenues fell short of the Zacks Consensus Estimate, earnings surpassed ...</p>\n\n<a href=\"https://finance.yahoo.com/news/bjs-wholesale-q3-earnings-top-200000850.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>BJ's Wholesale Q3 Earnings Top, FY24 View Up, Membership Hike Ahead</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBJ's Wholesale Q3 Earnings Top, FY24 View Up, Membership Hike Ahead\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-23 04:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/bjs-wholesale-q3-earnings-top-200000850.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>BJ’s Wholesale Club Holdings, Inc. BJ reported its third-quarter fiscal 2024 results, showcasing mixed performance. While revenues fell short of the Zacks Consensus Estimate, earnings surpassed ...</p>\n\n<a href=\"https://finance.yahoo.com/news/bjs-wholesale-q3-earnings-top-200000850.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MKC","symbol_name":"味好美","start_time":0,"source_url":"https://finance.yahoo.com/news/bjs-wholesale-q3-earnings-top-200000850.html","article_id":"2485754210","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/Zjqp1Fxtk7cSGM5CtuRPQw--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/1a861beafb7e014dbe41f31ff9adfc30"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2485754210","pubTimestamp":1732305600,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"BJ’s Wholesale Club Holdings, Inc. BJ reported its third-quarter fiscal 2024 results, showcasing mixed performance. While revenues fell short of the Zacks Consensus Estimate, earnings surpassed expectations. Both metrics improved year over year, supported by decent comparable club sales growth.The Marlborough, MA-based company achieved a significant milestone by growing its membership base to 7.5 million members and announced its first membership fee hike in seven years. BJ’s unveiled a new $1 billion share repurchase program, underscoring its commitment to shareholder value.Strong pricing strategies, innovative merchandise initiatives and advancements in digital solutions positively influenced the quarter’s performance. Building on these factors, management raised its fiscal 2024 guidance.Shares of this Zacks Rank #3  company rose 8.3% during the trading session yesterday. In the past six months, the stock has advanced 11.5% against the industry’s decline of 1%.BJ's Wholesale Club Hol","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"MKC":"味好美","BJ":"BJ批发俱乐部"},"translate_title":"BJ批发第三季度盈利最高，2024财年前景向上，会员数量即将增加","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BJ":1,"MKC":0.9},"content_text":"BJ’s Wholesale Club Holdings, Inc. BJ reported its third-quarter fiscal 2024 results, showcasing mixed performance. While revenues fell short of the Zacks Consensus Estimate, earnings surpassed expectations. Both metrics improved year over year, supported by decent comparable club sales growth.The Marlborough, MA-based company achieved a significant milestone by growing its membership base to 7.5 million members and announced its first membership fee hike in seven years. BJ’s unveiled a new $1 billion share repurchase program, underscoring its commitment to shareholder value.Strong pricing strategies, innovative merchandise initiatives and advancements in digital solutions positively influenced the quarter’s performance. Building on these factors, management raised its fiscal 2024 guidance.Shares of this Zacks Rank #3 (Hold) company rose 8.3% during the trading session yesterday. In the past six months, the stock has advanced 11.5% against the industry’s decline of 1%.\nBJ’s Third-Quarter Insights\nBJ’s Wholesale Club reported adjusted earnings of $1.18 per share, which came ahead of the Zacks Consensus Estimate of 91 cents and increased from the $1.00 reported in the year-ago period.See the Zacks Earnings Calendar to stay ahead of market-making news.This operator of membership warehouse clubs generated total revenues of $5,099.4 million, which grew 3.5% from the year-ago quarter’s level but missed the consensus mark of $5,126 million. Net sales increased 3.4% to $4,984.4 million, while membership fee income jumped 8.4% to $115 million.Total comparable club sales during the quarter under discussion rose 1.5% year over year. Excluding the impact of gasoline sales, comparable club sales jumped 3.8%, led by robust traffic, and fared better than our estimate of a 2% increase. Markedly, digitally enabled comparable sales advanced 30% during the quarter. BJ's Wholesale also expanded its footprint by opening three new clubs and four new gas stations during the quarter. The company expects to operate more than 250 clubs by the end of fiscal 2024.\n\nBJ's Wholesale Club Holdings, Inc. Price, Consensus and EPS Surprise\n  \nBJ's Wholesale Club Holdings, Inc. price-consensus-eps-surprise-chart | BJ's Wholesale Club Holdings, Inc. Quote\n\nA Look at BJ’s Margins\nThe gross profit rose to $975.5 million from $902.5 million in the year-ago period. The merchandise gross margin rate, which excludes gasoline sales and membership fee income, expanded 20 basis points from the year-ago quarter’s level owing to efficient cost management. The operating income increased 15.1% year over year to $229.4 million, while the operating margin, as a percentage of total revenues, rose 50 basis points to 4.5%. We note that adjusted EBITDA improved 13.5% to $308.3 million during the quarter, while the adjusted EBITDA margin expanded 50 basis points to 6%. Selling, general and administrative (SG&A) expenses rose 5.2% from the year-ago quarter to $733.6 million. This reflects higher labor and occupancy costs stemming from new club and gas station openings in addition to other investments to drive strategic priorities. As a percentage of total revenues, SG&A expenses deleveraged 20 basis points to 14.4%. We had anticipated SG&A expenses to deleverage 40 basis points.\nBJ’s Wholesale Financial Snapshot\nBJ’s Wholesale Club ended the quarter with cash and cash equivalents of $33.9 million. The long-term debt amounted to $398.7 million, while stockholders’ equity was $1,762.2 million.Net cash provided by operating activities and adjusted free cash flow totaled $206.8 million and $18.8 million, respectively, for the 13 weeks ended on Nov. 2, 2024. As part of its share repurchase program, the company bought back 679,499 shares worth $58.2 million in the quarter. Recently, BJ’s board of directors approved a new share repurchase program, authorizing the repurchase of up to $1 billion worth of shares, with the program set to expire in January 2029.\nBJ to Hike Membership Fee\nBJ’s Wholesale Club announced its first membership fee increase in seven years, set to take effect on Jan. 1, 2025. The annual fee for the Club membership will rise by $5 to $60, while the Club+ membership will see a $10 increase to $120.The company also introduced a new perk for Club+ members, including BJ’s One+ Mastercard cardholders. Starting Jan. 1, 2025, these members will receive two free same-day deliveries on eligible orders of $50 or more during each membership year.\nHere is What BJ Guided\nFollowing the results, BJ’s Wholesale Club updated its fiscal 2024 guidance. The company now anticipates fourth-quarter comparable club sales, excluding gasoline sales, to increase between 2.5% and 3% year over year, resulting in full-year growth of 2.3% to 2.4%. Merchandise gross margins for fiscal 2024 are expected to remain approximately flat compared to the prior year.Management guided fourth-quarter adjusted earnings per share between 78 cents and 88 cents, bringing the full-year adjusted earnings in the range of $3.90-$4.00 per share. The current projection reflects an upgrade from the company’s earlier guidance issued on Aug. 22, 2024, which had anticipated fiscal 2024 comparable club sales growth at the high end of a 1%-2% range and adjusted earnings per share leaning toward the lower end of the $3.75-$4.00 range.\nDon’t Miss These Solid Bets\nSprouts Farmers SFM, which is engaged in the retailing of fresh, natural and organic food products, currently sports a Zacks Rank #1 (Strong Buy). SFM has a trailing four-quarter earnings surprise of 15.3%, on average. You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for Sprouts Farmers’ current financial-year sales and earnings implies growth of 12.2% and 29.6%, respectively, from the year-ago reported numbers.McCormick & Company MKC is a global food company that manufactures, markets and distributes spices, condiments, seasoning mixes and other flavoring products. It currently carries a Zacks Rank #2 (Buy). MKC has a trailing four-quarter earnings surprise of 13.8%, on average. The Zacks Consensus Estimate for McCormick & Company’s current financial-year sales and earnings suggests growth of around 0.6% and 8.2%, respectively, from the year-ago reported numbers.Freshpet FRPT, which manufactures, distributes and markets natural fresh meals and treats for dogs and cats, currently carries a Zacks Rank #2. FRPT has a trailing four-quarter earnings surprise of 144.5%, on average. The Zacks Consensus Estimate for Freshpet’s current financial-year sales and earnings implies growth of 27.3% and 224.3%, respectively, from the year-ago reported numbers.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nBJ's Wholesale Club Holdings, Inc. (BJ) : Free Stock Analysis Report\nFreshpet, Inc. (FRPT) : Free Stock Analysis Report\nMcCormick & Company, Incorporated (MKC) : Free Stock Analysis Report\nSprouts Farmers Market, Inc. (SFM) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"2","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2485754210"}