Lower gas sales hurt BJ's results
7:59 AM Fri, Feb 06, 2009 | Permalink
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Same-store sales at BJ's Wholesale Inc. of Natick, were down .7 percent in January, reduced by lower sales of gasoline. Revenues from gasoline sales were off because the average price of gas per gallon was down 40 percent compared with a year ago and the company sold fewer gallons than last year, company spokeswoman Cathy Maloney said. Excluding gas sales, same-store sales rose 7.6 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 for the four weeks ended Jan. 31 edged up nearly 1 percent to $656.7 million from $651 million last year.
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