BJ's Wholesale Misses Sales Mark In Q4, Navigates Mixed Quarter With Positive Outlook
Portfolio Pulse from Shivani Kumaresan
BJ's Wholesale Club Holdings Inc (NYSE:BJ) reported Q4 FY23 sales of $5.36 billion, missing analyst expectations of $5.39 billion. Despite a slight decrease in total comparable club sales, membership fee income and digitally enabled sales saw significant increases. The company also reported a rise in gross profit and operating income, with an adjusted EPS of $1.11, beating estimates. BJ's expects FY24 EPS to be between $3.75-$4.00, with comparable club sales growth of 1%-2% excluding gasoline sales. Shares fell 1.59% in premarket trading.
March 07, 2024 | 1:21 pm
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NEUTRAL IMPACT
BJ's Wholesale reported mixed Q4 results with a slight sales miss but beat on adjusted EPS. The company has a positive outlook for FY24 with expected EPS of $3.75-$4.00 and sales growth of 1%-2%.
The mixed Q4 results with a sales miss but an EPS beat, alongside a positive FY24 outlook, suggest a neutral short-term impact on BJ's stock. The premarket price action indicates initial negative reaction, but the positive outlook could balance sentiment.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100