BJ’s Wholesale Club (NYSE:BJ) reported its latest quarterly earnings results on Tuesday, which sent shares sliding in the afternoon despite the fact that the company’s figures were stronger than what the Wall Street consensus estimate called for.
The Westborough, Mass.-based company said that for its second quarter of fiscal 2018, it unveiled a net loss of $5.6 million, or 5 cents per share. The figure was a decline compared to its net income of $19.7 million, or 22 cents per share, from the year-ago quarter.
BJ’s Wholesale Club added that, on an adjusted basis excluding certain items, it brought in earnings of 31 cents per share. The figure was stronger than the 27 cents per share that analysts were calling for, according to data compiled by FactSet.
The company added that its revenue for the period increased 4.3% to $3.24 billion from $3.1 billion in the year-ago quarter. Analysts were calling for BJ’s Wholesale Club to bring in sales of $3.27 billion for its second quarter.
The company’s same-store sales were up by about 5% compared to the year-ago quarter, handily topping the 1.3% surge that analysts polled by FactSet projected. BJ’s Wholesale Club also updated its full-year guidance.
The company now forecasts sales to be in the range of $12.6 billion to $12.7 billion for its fiscal 2018, while adjusted earnings is slated to be between $1.17 to $1.24 per share. Analysts see its sales as being $12.9 billion, while it sees the company’s earnings as being $1.13 per share.
BJ stock fell about 1% on Tuesday following the company’s latest quarterly earnings results.