BJ’s Wholesale Club reported strong second-quarter results, driven by its Fresh 2.0 initiative. The retailer’s expansion of the program, which began in produce last year and expanded to meat and seafood departments in May, contributed to a 3.2% year-over-year increase in net sales, surpassing $5.2 billion. Comparable club sales rose 2.3%, while membership reached 8 million, with membership fee income growing 9.0%. The company also reported record-setting growth in digital engagement, including 34% year-over-year growth driven by same-day delivery and express pay adoption.
Gross profit increased to $1.01 billion, up from $956.6 million the previous year. Chairman and CEO Bob Eddy attributed the success to the Fresh 2.0 initiative, saying it’s a key example of the company’s transformation over the past couple of years. The retailer maintained its comparable club sales forecast for the full year, with an expected increase of 2% to 3.5% year over year, excluding the impact of gasoline.
The company’s Florida pilot clubs performed well, competing at the chain level in their second year and driving trips to those stores. Eddy noted that unit sales have been strong, particularly in the meat category, which outperformed expectations. With its digital engagement on track, BJ’s Wholesale Club remains confident in its ability to deliver strong results for the remainder of the year.
Source: https://www.supermarketnews.com/finance/bj-s-wholesale-club-continues-to-find-momentum-in-grocery-and-fresh-