BJ’s Wholesale Profit Climbs
Boston BJ’s Wholesale Club Inc. on Wednesday said its fourth-quarter profit increased fourfold.
BJ’s said that strong January sales, favorable profit margins and lower-than-expected expenses lifted its net income to $50.2 million in the three months ended Feb. 2. That is up from a profit of $11.9 million in the fourth quarter a year earlier.
Revenue rose 2% to $2.48 billion, from $2.43 billion in the previous year’s fourth quarter.
BJ’s said same-store sales rose 5.9% in February, with gasoline sales contributing to almost half that gain. The biggest sale gains were in upstate New York, with the smallest in New England.
BJ’s February same-store sales gain of 5.9% follows an increase of 7.8% in January, 3% in December and 7.7% in November. BJ’s said it expects same-store sales to increase 4% to 6% in this year’s first quarter, excluding the impact from gasoline sales.
For all of 2007, BJ’s posted a profit of $122.9 million, up from $72 million in 2006. Revenue rose 6% to $9.01 billion from $8.48 billion a year earlier.
Verde joins TDIndustries board
DALLAS TDIndustries, a specialty construction company, has announced the appointment of Dora Ann Verde to its board of directors. Verde, a CPA and partner in the public accounting firm of Garza/Gonzalez & Associates in San Antonio, will serve as chairperson for TDIndustries’ audit committee.
According to Jack Lowe, Jr., board chair of TDIndustries, “We are fortunate to name Dora Ann Verde to our board and are very impressed with her exceptional qualifications.”
Brash Entertainment names legal affairs vp
Video game company, Brash Entertainment, announced that Melissa Miller has been appointed vp of legal affairs. Miller joined Brash from Fox Filmed Entertainment, where she handled legal affairs for domestic and global licensing and merchandising initiatives.
Prior to joining Fox, Miller practiced at Alschur Grossman Stein & Kahan, where she litigated on disputes involving partnership agreements, trade secrets and intellectual property.
“Melissa Miller has specialized in understanding complex partnerships and licensing agreements, making her an ideal fit for our business,” said Mitch Davis. “She navigates the Hollywood studio system with ease and is equally comfortable working closely with the game development community.”