Soft home rebounding at BJ’s
November 15, 2006,
Natick, Mass. – BJ’s Wholesale Club boasted that its fashion departments – including soft home – recently experienced a rebirth in comp sales – noting that last year’s economy was slowed by already high fuel costs and hurricanes.
While comp sales for the fashion departments were -12% for the first two quarters, during the third quarter comp sales improved from a -15% in August to a -9% in September to a -2% in October -- a 13 percentage point trend change in a three-month period, Wedge said.
BJ’s fashion departments – which include soft home, apparel and jewelry – represent the 170-unit warehouse club chain’s “most discretionary” segment of business.
The company reported third-quarter net income of $18.3 million, down 34.2% from $27.8 million for the same period one year ago. Net sales were $1.98 billion, up 2.9% over revenues of $1.92 billion a year ago. Comp-store sales were virtually flat, up just 0.1%.