Why Investors Are Bidding Up BJ's Wholesale Club Stock Today

BJ's Wholesale Club Holdings Inc BJ shares are trading higher Thursday after the company reported better-than-expected financial results.

• Q4 Revenue: $4.93 billion beat estimates of $4.8 billion
• Q4 EPS: $1.00 beat estimates of $0.87

Comparable club sales were up 9.8% year-over-year and digitally-enabled sales jumped 22%. Membership fee income increased 8% compared to the prior year.

"Our membership base is stronger than ever with our tenured renewal rate reaching an all-time high of 90%. Our continued focus on value has driven traffic and market share gains all year. Our digital business is growing and we're successfully expanding our footprint," said Bob Eddy, president and CEO of BJ's Wholesale Club.

Related Link: BJ's Wholesale Club Q4 Highlights: 13% Sales Growth, Earnings Beat, Comps Up 9.8% & More

BJ's sees full-year 2023 comparable club sales, excluding gasoline, to increase 4% to 5% year-over-year. Membership fee income is expected to be up between 5% and 6%. 

The company also provided longer-term growth targets including comparable sales growth in the low-to-mid single digit range and total revenue growth in the mid-single digit range. Earnings are expected to grow in the high-single to low-double digit range.

BJ Price Action: BJ's shares were up 3.77% at $77.11 at time of publication, according to Benzinga Pro.

Photo: Mike Mozart from Flickr.