BJ's earnings up, barely
March 5, 2004,
NATICK, Mass. — With weaker margins and rising costs offsetting a double-digit gain in sales, BJ's Wholesale Club Inc., a Northeast no-frills retailer, pushed fourth-quarter earnings up a skimpy 1.5 percent, to $49.2 million from $48.5 million last year.
Sales at the warehouse club climbed by 12.6 percent, to $1.9 billion from $1.7 billion last year, with the all-important measure of same-store sales rising by 7.5 percent, including a contribution of about 1 percentage point from gasoline sales.