BJ’s sales rise, profits fall
March 7, 2007-- Home Textiles Today,
Natick, Mass. – Net income for BJ’s Wholesale Club in 2006 was $72.0 million, down 44% from $128.5 million in 2005. Sales for the year rose 7.2% to $8.3 billion. Comparable club sales for the 172-unit eastern regional chain increased by 1.2%, including a contribution from gasoline sales of 0.7%.
In the good news department, said cfo Frank Forward, “The average transaction increased about 3% for the year.”
Herb Zarkin, chairman, president and ceo, said 2007 will see more efficient logistics, better timing of Asian-sourced product, and increased field staff to drive new memberships and boost shopper purchases. He said BJ’s will open up to 10 new clubs in existing markets.
Related Content By Author
DayThree from the NY Textiles Market