BJ's Wholesale Club Expects Comparable Club Sales, Ex. Impact Of Gasoline Sales, To Range 2% Decrease-1% Increase In Q4 And To Increase 1.0%-1.8% (Prior View 2%) For FY23
Portfolio Pulse from Benzinga Newsdesk
BJ's Wholesale Club anticipates a range of -2% to +1% in Q4 comparable club sales, excluding gasoline sales, revising its full-year FY23 growth forecast to 1.0%-1.8% from the previous 2%. The company acknowledges the need to adapt to changing consumer behaviors due to macroeconomic factors.
November 17, 2023 | 11:53 am
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BJ's Wholesale Club has adjusted its Q4 and FY23 sales growth projections, indicating a cautious outlook on consumer spending patterns.
The revision of sales forecasts by BJ's Wholesale Club suggests potential challenges in the retail sector, possibly due to economic headwinds affecting consumer spending. This could lead to a negative short-term impact on the stock as investors may adjust their expectations based on the new guidance.
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