BJ’s Wholesale Club Q1 Net Income Rises

BJ’s Wholesale Club, a warehouse club operator, has reported net income of $17.2 million, or $0.29 per diluted share, for the first quarter of 2008, compared to $13.7 million, or $0.21 per diluted share, in the same quarter of 2007.

The company reported that net sales for the first quarter of 2008 increased by 12.3% to $2.26 billion and comparable club sales increased by 9.6%, including a contribution from sales of gasoline of 3.9%. For the first quarter of 2007, net sales increased by 7.5% and comparable club sales increased by 2.3%, including a contribution from sales of gasoline of 1.4%.

The company also announced that it expects to report earnings for fiscal 2008 in the range of $2.04 to $2.14 per diluted share, an increase of $0.06 versus prior guidance of $1.98 to $2.08 per diluted share.