BJ's Wholesale Club Nov. same-store sales rise

NATICK, Mass. - BJ's Wholesale Club Inc. said Thursday its November same-store sales rose 4.1 percent on higher demand for food and other consumable products.

The results topped Wall Street expectations, with analysts polled by Thomson Reuters expecting a same-store sales increase of 1.9 percent. In the year-ago period, the company saw its same-store sales rise 7.7 percent.

Same-store sales, or sales at stores open at least a year, are a key measure of retailer performance, because they measure growth at existing stores rather than from newly opened ones.

Total sales increased 5.2 percent to $783.2 million from $744.4 million in the same month last year.

BJ's said sales increased in each of its regions, with the New York metro area bringing in the highest boost.

Excluding gasoline sales, traffic increased about 6 percent and the average transaction amount was slightly higher than last year. Same-store food sales rose about 14 percent and general merchandise fell about 4 percent.

Year-to-date, BJ's said its totaled sales surged 13.7 percent to $8.08 billion, while same-store sales grew 11.4 percent.

Shares of BJ's advanced 40 cents to $37.11 in morning trading.

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