BJ's Wholesale Club June same-store sales fall
BJ's Wholesale Club Inc., the Natick-based warehouse-club operator, said that same-store sales fell 7.5 percent in June, hurt by lower gasoline revenue compared with a year ago.
Analysts surveyed by Thomson Reuters, on average, expected same-store sales to fall 7.2 percent.
Total sales for the five weeks ended July 4 fell 4.8 percent to $1 billion.
Same-store sales, or sales at stores open at least a year, are a key measure of retailer performance, because they measure growth at existing stores rather than from newly opened ones.
The company said lower gasoline revenue hurt June same-store sales. The price of gas in June was about 36 percent lower than the price in June last year. Also, cool and wet weather during the month throughout most of the Northeast hurt results by 1 to 2 percentage points.
Year-to-date, same-store sales fell 4.1 percent and total sales fell 2 percent to $4.04 billion.
Strongest sellers included food, such as breakfast food and candy, along with electronics such as computer equipment. Sales of products including air conditioners and apparel were weaker.
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