BJ’s Wholesale earnings, revenue and same-store sales beat expectations, but stocks pull back

These charts show one possible silver lining of the pandemic

<p>BJ’s Wholesale Club Holdings Inc. BJ, -5.72% on Thursday reported fiscal third-quarter earnings and sales that beat expectations, amid “significant market share gains.” However, the stock fell 2.3% in premarket trading, after rising 14.1% during the last eight sessions before the earnings release. Net income increased to $ 122.8 million, or 88 cents a share, from $ 55.1 million, or 40 cents a share, in the same period last year. Excluding non-recurring items, adjusted earnings per share grew from 41 cents to 92 cents, beating the FactSet consensus of 65 cents. Total revenue increased 15.6% to $ 3.73 billion, above the FactSet consensus of $ 3.67 billion, as same-store sales growth of 18.5% beat expectations of an increase of 15.5%. The company said it spent $ 50 million to buy back 1.2 million shares during the third quarter. BJ’s did not provide financial guidance. “The third quarter was another remarkable quarter with strong compensation growth, significant market share gains and record profitability,” said CEO Lee Delaney. “Looking to the future, we are confident that our business will continue to prosper given the structural change in consumer behavior, our market share gains, and our strategic investments in digital capabilities, membership, assortment, marketing and geographic expansion.” The stock is up 89.1% year-to-date through Wednesday, while the SPDR S&P Retail ETF XRT, -0.10%, has advanced 22.5% and the S&P 500 SPX, -0 67% have gained 10.4%.