BJ’s Wholesale Club, Inc. said sales for April 2009 decreased by 3.2% to $719.0 million from $743.1 million in April 2008. On a comparable club basis, sales decreased by 4.9% for the month of April 2009, including a negative impact from sales of gasoline of 10.4%. Excluding the impact of gasoline sales, merchandise comparable club sales increased by 5.5%. Due to the timing of Easter, the April sales period included 27 days of sales in 2009 versus 28 days last year. This calendar shift had a negative impact on comparable club sales of approximately 2.0% to 2.5%.

For the month of April 2008, comparable club sales increased by 17.8%, including a contribution from sales of gasoline of 5.5%. Due to the timing of Easter, the April 2008 sales period included 28 days of sales versus 27 days in 2007. This calendar shift had a positive impact on comparable club sales of approximately 4.0% in 2008.

For the first quarter of 2009, net sales increased by 0.3% to $2.26 billion from $2.25 billion for the first quarter of 2008. Comparable club sales decreased by 1.5% for the first quarter of 2009, including a negative impact from sales of gasoline of 9.0%. Excluding the negative impact from sales of gasoline, merchandise comparable club sales increased by 7.5% for the first quarter of 2009. For the first quarter of 2008, comparable club sales increased by 9.6%, including a contribution from sales of gasoline of 3.9%.

The company provided the following additional information regarding comparable club sales:
– Sales results by week reflected the calendar shift in the Easter holiday. Merchandise comparable club sales, excluding gasoline, increased in weeks one, three and four, with the strongest increase in week one, and decreased in week two.
– The Metro New York region had the highest comparable club sales increase and the Upstate New York and Southeast regions had the largest decreases. However, excluding the negative impact of gasoline, merchandise comparable club sales increased in all regions.
– Excluding sales of gasoline, traffic increased by approximately 5% versus last year. The average transaction amount was approximately flat to last year.
– Sales of food increased by approximately 7% and general merchandise sales increased by about 3%.
– Departments with the strongest sales increases compared to last year included air conditioners, breakfast needs, candy, computers, dairy, deli, health & beauty, meat, frozen, household chemicals, ice cream, paper products, pet foods, prepared foods, produce, small appliances and televisions. Weaker departments versus last year included automotive and tools, electronics, jewelry, sporting goods and summer seasonal.
 
Revised Earnings Guidance for First Quarter and Full Year
 
The company today also announced revised earnings guidance for the first quarter (ended May 2, 2009) and full year (ending Jan. 30, 2010). Based on higher than expected merchandise sales and margins for the first three months of the fiscal year, the company now expects to report earnings per diluted share in the range of 41 cents to 45 cents for the first quarter. Previous guidance was in the range of 29 cents to 33 cents per diluted share. For the full year ending Jan. 30, 2010, the company now expects to report earnings per diluted share in the range of $2.42 to $2.52 compared to previous guidance of $2.26 to $2.36.
 
BJ’s President and CEO Laura Sen said, “During the first quarter, our members continued to respond very positively to both our tremendous values and to the merchandise and operational improvements in the clubs. While we started off the year with very strong sales and margins and hope they will continue, we believe our revised guidance for the full year is prudent based on the uncertain economic environment.”
 
 
 
      Four Weeks Ended

May 2, 2009

      Thirteen Weeks Ended

May 2, 2009

Merchandise comparable club sales 5.5% 7.5%
Impact of gasoline sales (10.4%) (9.0%)
Comparable club sales (4.9%) (1.5%)
         
 

Sales Results for April 2009

($ in thousands)

 
Four Weeks Ended % Change
May 2,

2009

      May 3,

2008

Net

Sales

      Comp.

Sales

$ 718,965 $ 743,096 (3.2%) (4.9%)
 
 

Sales Results for the First Quarter

($ in thousands)

 
Thirteen Weeks Ended % Change
May 2,

2009

May 3,

2008

Net

Sales

Comp.

Sales

$ 2,258,814 $ 2,253,128 0.3% (1.5%)