Gas sales boost 3Q profit at BJ's Wholesale

(File photo: Charles Krupa/AP)

BJ's Wholesale Club of Natick said that third-quarter profit rose 24 percent, helped by sales of gasoline.

The warehouse-club operator's profit for the quarter ended Nov. 1 rose to $28.2. million, or 48 cents per share, from $22.7 million, or 35 cents per share, last year.

The company, one of the few retailers benefiting from a weak economy as consumers turn to discounters for deals on basics, says revenue rose 13 percent to $2.46 billion.

Analysts expected a profit of 46 cents per share on revenue of $2.45 billion. Earlier this month, BJ's raised its earnings outlook for the quarter.

Sales in stores open at least one year rose 11.9 percent, or 6.6 percent excluding gas. (AP)