BJ’s Wholesale Club Holdings, Inc. (NYSE: BJ) reported financial results for the third quarter. Comparable sales increased 18.5% which include digitally enabled sales growth of 200% for the third quarter. Income from continued operations rose by 122.6% year over year to USD 122.9 Million. Earnings per diluted share amounted to USD 0.88 which reflects 120% year over year growth. Net cash by operating activities reached USD 802 Million as free cash flow reached USD 675.1 Million for the first nine months of fiscal 2020. Gross profit increased to USD 743.3 Million in the third quarter. Income tax expense amounted to USD 41.6 Million in the third quarter.
“The third quarter was another remarkable quarter with robust comp growth, significant market share gains and record profitability. As we look ahead, we are confident our business will continue to thrive given the structural shift in consumer behavior, our market share gains and our strategic investments in digital capabilities, membership, assortment, marketing and geographic expansion,” said Lee Delaney, President and Chief Executive Officer, BJ’s Wholesale Club. “Our team members across our business are working hard to execute at the highest standards and meet our members’ increased demand for our products and services. We remain grateful for their continued dedication and hard work in helping us drive industry-leading results.”
The company’s share repurchase program allowed for 1.2 million shares of common stock to be repurchased, totaling USD 50 Million in the third quarter.