The warehouse retailer reported 1.9% revenue growth in the first quarter compared to a year ago, with revenue reaching $3.87 billion. Same-stores sales actually fell 5%, but still beat analysts’ expectations of an 8.4% dip.
The new store locations planned for 2021 include Seabrook, New Hampshire, Port Charlotte, Florida, Commack, New York, South Fayette, Pennsylvania, Ross Township, Pennsylvania, and Lansing, Michigan. The Lansing and Pittsburgh areas represent new markets for the retailer, which is building out its club business on an assortment of fresh foods, household essentials, apparel, toys, tech/electronics and seasonal items, Progressive Grocer reported.
“We’ve made great progress accelerating the pace of our new club openings in the last few years and we’re looking forward to opening six new locations this fiscal year,” said Bill Werner, executive vice president, strategy and development. “We’re excited to bring the value and convenience of a BJ’s membership to more shoppers as we continue extending our reach across the Eastern United States.”
While executives divulged its new stores plan, they did not speculate on a financial outlook for the rest of the year due to the impact of uncertainty around the COVID-19 pandemic. The earnings report was among the first for CFO Laura Felice and CEO Bob Eddy, both of whom were appointed to their roles earlier this year.
See the full story at Progressive Grocer.