BJ’s Wholesale Club Holdings Inc (NYSE: BJ) stock is down 15% on Thursday after the retailer said its Q4 revenue and comparable sales came in shy of Street estimates. Its guidance was also unimpressive.
BJ’s Wholesale Q4 results
Net income printed at $107.6 million versus the year-ago figure of $95.9 million.Per-share earnings climbed from 69 cents a share to 78 cents a share.Adjusted EPS came in at 80 cents a share, as per the earnings press release.Revenue jumped 10.4% YoY to $4.36 billion in the fourth quarter.FactSet consensus was for 75 cents of adjusted EPS on $4.40 billion in revenue.
Digital sales were up 19%, while same-store sales (excluding gasoline) edged up 0.9%, significantly below the forecast for 4.80%. Late last year, Strategic Wealth Partners’ Mark Tepper said BJ’s was a good inflation pick for 2022.
BJ’s Wholesale future outlook
For the full financial year, BJ’s Wholesale forecasts roughly 5.0% increase in sales versus analysts at 7.10%, as per the FactSet. CFO Laura Felice said:
There continue to be several unknowns that make for significant variability as we look to frame guidance for the coming year. The among significant are headwinds that could materialise as we anniversary unprecedented levels of government aid and stimulus efforts. As an offset on the top line, we’re experiencing some of the highest levels of inflation we’ve seen in several decades.
Also on Thursday, the membership-based warehouse retailer said it was opening four new clubs as part of its expansion plan for 2022.
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