Executive Summary

• BJ’s Wholesale Club reported total 4Q18 revenues of $3.42 billion, down 3.9% and beating the $3.36 billion consensus estimate. Net sales increased 2.9% adjusted for the extra week in the year-ago quarter. Adjusted EPS was $0.44, up 22.7% and beating the $0.36 consensus estimate.
• Comps excluding gasoline increased 2.9% during the quarter and 2.2% for the year.
• BJ’s guided for 2019 revenues of $12.9-13.2 billion, below the $14.37 billion consensus estimate, a 1.5-2.5% increase in comps and EPS of $1.42-1.47, in line with consensus.