BJ’s Wholesale Club Holdings Inc. shares slid 4% in premarket trade Thursday, after the company beat estimates for the first quarter but declined to offer guidance, citing the uncertainty created by the pandemic. BJ’s posted net income of $81.6 million, or 59 cents a share, for the quarter, down from $95.7 million, or 69 cents a share, in the year-earlier period. Adjusted per-share earnings came to 72 cents, ahead of the 58 cents FactSet consensus. Revenue rose 1.9% to $3.868 billion from $3.798 billion a year ago, also ahead of the $3.669 billion FactSet consensus. Same-store sales fell 5.0%, ahead of the FactSet consensus for a decline of 8.4%. “Given the level of uncertainty associated with the evolution of the pandemic and consumer behavior, fiscal 2021 remains difficult to forecast,” Chief Financial Officer Laura Felice said in a statement. “As a result, we will continue to refrain from offering formal detailed guidance.” Shares have gained 30.3% in the year to date, while the S&P 500 has gained 9.6%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
