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Why BJ's Wholesale Club Stock Popped Today

·2 min read
Why BJ's Wholesale Club Stock Popped Today
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Shares of BJ's Wholesale Club (NYSE: BJ) jumped 7.4% on Thursday as investors cheered the discount warehouse chain's impressive revenue and profit growth. "Gains in member traffic underscored the value we provide," CEO Bob Eddy said in a press release. Higher freight costs led to a relatively modest 30 basis point (1 basis point is equal to 0.01%) decline in its merchandise gross margin.

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