BJ's Wholesale Club April revenue comparison rises

Associated Press

NATICK - BJ's Wholesale Club Inc. said revenue in stores open at least one year jumped 4.6 percent in April, as customers filled their tanks with at the retailer's gas pumps.

Analysts surveyed by Thomson Reuters expected a jump of 6 percent. Revenue in stores open at least one year is a key measure of a retailer's financial health because it measures growth at existing locations, rather than from expansion.

BJ's said gasoline sales contributed 3.8 percent of the April gain, while merchandise sales increased 0.8 percent. The calendar shift that moved Easter back to March cut about 2.5 percent off comparable merchandise sales, the company said. Food sales rose by about 3 percent, while general merchandise sales slipped by roughly the same amount. Total sales in April rose 9.5 percent to $787 million. Sales increased in the second and third week of the month, with the second week showing the highest gain, BJ's said.

The Easter shift was reflected in a drop in sales in the first week of the month.

For the quarter ended May 1, total revenue rose 13 percent to $2.55 billion, from $2.26 billion for the 2009 period. Wall Street was expecting $2.6 billion. Revenue in stores open at least one year for the quarter rose 7.8 percent, including a 3.6 percent boost from gasoline sales. Merchandise sales rose 4.2 percent.