MARLBOROUGH, MA - With the release of its third quarter fiscal year 2022 results for the 13 weeks ended October 29, 2022, BJ’s Wholesale Club is showing the strength of its growth strategy. Sticking to its guns despite economic challenges, the retailer reported a 12.3 percent increase in net sales, hitting $4.68 billion.

“We reported another quarter of strong results, demonstrating the power of our business model,” said Bob Eddy, President and Chief Executive Officer. “Our consistent focus on delivering value to our members at a time when they need it most will bolster our business for the future. Our member base is growing in both size and quality. We are improving our merchandising to deliver amazing value. We are offering more convenience for our members through a great digital experience. We are expanding our footprint into new and existing markets. We have a great team and a competitive strategy, and the investments we continue to make in our company position us well for long-term growth and sustainable value creation.”

According to a release, other highlights from the report include:

• Excluding the impact of gasoline sales, comparable club sales increased by 5.3 percent in the third quarter of fiscal 2022 compared to the same period in fiscal 2021
• Gross profit increased to $877.1 million in the third quarter of fiscal 2022 from $791.2 million in the third quarter of fiscal 2021
• Adjusted EBITDA increased 19.2 percent to $272.3 million in the third quarter of fiscal 2022 compared to $228.4 million in the third quarter of fiscal 2021

Based on these results, BJ’s has a strong outlook moving into the future and is looking forward to continued growth.

“We are optimistic about the outlook on our business given the sustained strength in our grocery business and our gains in market share,” said Laura Felice, Executive Vice President, Chief Financial Officer. “We now expect fiscal year 2022 comparable club sales growth, excluding the impact of gasoline sales, to be in the 5.0 percent to 5.5 percent range. While we expect continued merchandise margin rate pressure, we also now expect fiscal year 2022 EPS to be in the $3.70 to $3.80 range. We remain confident that the strength of our core business and our intense focus on delivering value will continue to drive long-term growth.”

To read the report in its entirety, click here.

What does the remainder of the fiscal year 2022 have in store for BJ’s? Stay tuned to AndNowUKnow to find out.

BJ's Wholesale Club