Comparable club sales at BJ’s Wholesale Club went up 4 percent in the second quarter of fiscal 2021, ending July 31, a continued upswing that saw the retailer grow its base over two years by 21 percent.
Net sales jumped 5.6 percent in the 13 weeks through July 31 compared to the same time a year earlier to almost $4.1 billion from about $3.9 billion.
Meanwhile, the company’s digital sales grew 4 percent in the quarter and are up 304 percent for the past two years, riding the wave of curbside pickup and other services first offered during the COVID-19 pandemic. First-year BJ’s membership renewals “remain at historic levels,” according to the company’s earnings report Thursday (Aug. 19). For the 26 weeks through July 31, BJ’s saw net sales up 3.7 percent over the same time in 2020, from almost $7.6 billion to just short of $7.9 billion.
“When I reflect on our impressive performance, it is clear that our progress against our strategic priorities has powered our success,” BJ’s Wholesale Club President and Chief Executive Officer Bob Eddy said in the company announcement. “We drove outstanding membership results, expanded our market share and continued to benefit from elevated consumer spending trends.
“We have invested into our team members, the value of our membership, our digital infrastructure and physical footprint to continue to accelerate our growth flywheel. With these investments, we are confident that we are well positioned for long-term success,” he said.
The company refrained from a formal prediction of future success but remains confident that it’s on the right track.
“Looking ahead, we remain confident our business will continue to thrive and that our solid membership trends, assortment initiatives, enhanced digital capabilities and robust real estate pipeline will drive sustained and strong profitable growth,” BJ’s Executive Vice President and Chief Financial Officer Laura Felice said in the company announcement.
Citizens Financial recently paired with BJ’s on a buy now, pay later (BNPL) offering.
The program will be offered for consumers using delivery, curbside pickup or buy online, pick up in-club options at BJ’s, which will allow BNPL options for three months, six months, 12 months or 24 months depending on the amount of the transaction.