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BJ’s Wholesale Club tops earnings estimates, raises full-year outlook

Yahoo Finance Video

Yahoo Finance Live anchors discuss second-quarter earnings for BJ’s.

Video Transcript

[MUSIC PLAYING]

JULIE HYMAN: We've got a few minutes till the opening bell. We got some other movers for you. BJ's shares up almost 9% after the company beat estimates for its latest quarter. Total comparable club sales rose by 19.8% year-over-year, up 7.6% when excluding gasoline sales. CEO Bob Eddy noting BJ's strong second quarter results were led by gains in traffic-- that's not something we've seen everywhere-- as well as market share.

You know, and the company says for the full year comp sales growth, exgasoline, will be up 4% to 5%. People are looking to save money. So just like we talked about, the dollar stores could be poised to benefit from this. Walmart is benefiting from this. It looks like BJ's is, too.

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BRIAN SOZZI: Kohl's, too. About to be a lot of discounts coming at your local Kohl's.

JULIE HYMAN: Oh.

BRIAN SOZZI: But my executive of the day award goes to Bob Eddy. You don't hear a lot about BJ's. They, of course, play second fiddle-- I would say, and it's unfortunate. [CLEARS THROAT] Excuse me-- to Costco. Costco gets a lot of attention when they report their monthly sales. Of course, also Sam's Club besides Walmart, had a very strong quarter earlier this week when they reported.

Sam Store sales up 19.8%. Citi analyst Paul Lejuez calling this quarter impressive. And he's right, big earnings beat, big sales gain, big, big big, big quarter.

JULIE HYMAN: These shares are up 31% over the past year.

BRIAN SOZZI: Big.

JULIE HYMAN: That's not-- that's not very common. That's better than Costco's performance, by the way--

BRIAN SOZZI: Yes.

JULIE HYMAN: --which is up 25%. So yeah, it's interesting.

BRIAN SOZZI: They just do not get the respect they deserve. And they do. BJ's is great.

JULIE HYMAN: Yeah, well, they're getting they're getting respect from the market today with the shares getting a pop. I guess-- and they've gotten respect from investors over the past year. It's just not-- doesn't get as much chatter--

BRIAN SOZZI: R-E-S-P-E-C-T.

JULIE HYMAN: --from people like us.

BRIAN SOZZI: All right.