BJ's Wholesale Club's Oct. same-store sales up

NATICK, Mass. - BJ'S Wholesale Club Inc. said Thursday its October same-store sales rose 10.2 percent, partly on an unexpected boost from gasoline sales.

For the four weeks ended Nov. 1, gasoline sales contributed a gain of 3.6 percent to same-store sales.

Analysts polled by Thomson Reuters expected same-store sales growth of 6.3 percent, or 6.7 percent excluding gasoline sales.

Same-store sales, or sales at locations open at least a year, is a key indicator of retailer performance because it measures growth at existing stores rather than from newly opened ones.

Overall, October sales increased 11.6 percent to $738.8 million.

For the third quarter, same-store sales increased by 3.4 percent. Total sales increased 13.4 percent to $2.4 billion.

Analysts expected third-quarter revenue of $2.45 billion.

Shares rose $1.33, or 3.7 percent, to $36.91 in morning trading.

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