BJ's Wholesale Club Q1 Comparable Club Sales Grew 2% YoY, Ex GasolIne Grew 5.7% YoY
Portfolio Pulse from Benzinga Newsdesk
BJ's Wholesale Club reported Q1 comparable club sales growth of 2% YoY, with a 5.7% YoY increase excluding gasoline sales. Digitally enabled sales grew 19% YoY, and membership fee income rose 6.1% YoY to $102.5 million. The company opened two new clubs, three gas stations, and launched a co-branded credit card with Capital One.
May 23, 2023 | 10:47 am
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POSITIVE IMPACT
BJ's Wholesale Club reported strong Q1 results, with growth in comparable club sales, digital sales, and membership fee income. The company also expanded its footprint and launched a co-branded credit card with Capital One.
The strong Q1 results, including growth in comparable club sales, digital sales, and membership fee income, indicate a positive outlook for BJ's Wholesale Club. The company's expansion and partnership with Capital One for a co-branded credit card also contribute to the positive short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Capital One partnered with BJ's Wholesale Club to launch a co-branded credit card, potentially increasing its customer base and revenue.
The partnership with BJ's Wholesale Club to launch a co-branded credit card could lead to an increase in Capital One's customer base and revenue. However, the impact on the stock may be less significant compared to the impact on BJ's Wholesale Club.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50