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BJ Wholesale reports second-quarter earnings

Retailer BJ's Wholesale Club (NYSE: BJ) stepped into the earnings spotlight this morning, reporting second-quarter earnings of 64 cents per diluted share. A year ago, BJ reported net income of 61 cents per diluted share, including three cents per share from favorable state income tax audit settlements.

During the first half of 2009, BJ raked in $1.09 per diluted share compared to 90 cents per diluted share a year ago. Quarterly sales slipped slightly more than 5% to $2.5 billion on a year-over-year basis, but the bulk retailer did forecast full-year sales to increase 0.5% to 1.5%. On the forecast front, BJ now expects full-year earnings between $2.46 and $2.56, which is higher than the previously forecast $2.44 to $2.54.

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Last updated: May 25, 2012: 11:30 PM

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