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BJ's Wholesale profit up, raises 2008 guidance

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Date: Wednesday 20 Aug 2008

LONDON (ShareCast) - BJ's Wholesale Club reported a slight increase in second quarter earnings and raised its full-year profit forecast.

Net income rose to $36.5m in the quarter ended 2 August compared with $36.3m last time. The period included a $2m benefit from a state income tax audit settlement.

Total sales increased by 17.9% to $2.65bn, while comparable club sales increased by 15.5%, including a contribution from sales of gasoline of 8.1%.

BJ's raised its earnings guidance for the full year to between $2.10 and $2.20 per share from the previous range of $2.04 to $2.14 each.

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