BJ's Wholesale Club FY24 Adj. EPS Outlook $3.75 - $4.00 Vs. $3.98 Estimate
Portfolio Pulse from Benzinga Newsdesk
BJ's Wholesale Club projects its FY24 adjusted EPS to be between $3.75 and $4.00, slightly below the $3.98 estimate. The company expects comparable club sales, excluding gasoline, to grow 1% to 2% year-over-year, and merchandise gross margins to improve by about 20 basis points. Capital expenditures are anticipated to be around $500 million.
March 07, 2024 | 11:49 am
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BJ's Wholesale Club anticipates a FY24 adjusted EPS of $3.75 to $4.00, below the analyst estimate of $3.98, with a 1% to 2% increase in comparable club sales (excluding gasoline) and a 20 basis point improvement in merchandise gross margins.
The projected adjusted EPS being slightly below the analyst estimate might initially concern investors, potentially putting downward pressure on the stock. However, the expected growth in comparable sales and improvement in merchandise gross margins indicate a positive operational outlook, which could mitigate negative reactions and lead to a neutral short-term impact.
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