RTTNews | Nov 18, 2021 07:03AM EST

07:03 Thursday, November 18, 2021 (RTTNews.com) - BJ's Wholesale Club Holdings Inc. (BJ) announced Thursday that net income for the third quarter grew to $126.52 million or $0.92 per share from $122.80 million or $0.88 per share in the prior-year quarter.

Excluding items, adjusted net income was $0.91 per share, compared to $0.92 per share in the year-ago quarter.

Total revenues for the quarter increased 14.3 percent to $4.26 billion from $3.73 billion in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.80 per share on revenues of $3.92 billion for the quarter. Analysts' estimates typically exclude special items.

Net sales grew 14.4 percent to $4.17 billion and membership fee income increased 7.7 percent to $91.49 million from last year. Digitally-enabled sales growth was 44 percent.

Total comparable club sales increased 13.1 percent, reflecting two-year stacked comp of 27.2 percent. Comparable club sales, excluding the impact of gasoline sales, grew 5.7 percent, reflecting two-year stacked comp of 24.2 percent.

On Tuesday, the company's Board of Directors approved a new $500.0 million share repurchase program, effective immediately and expires in January 2025.

Read the original article on RTTNews ( https://www.rttnews.com/3243443/bj-s-wholesale-club-q3-results-top-estimates-quick-facts.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved