EX-99.2 3 dex992.htm STATEMENTS OF INCOME Statements of Income

Exhibit 99.2

BJ’s Wholesale Club, Inc. and Consolidated Subsidiaries

STATEMENTS OF INCOME (Unaudited)

(Dollars in Thousands Except Per Share Amounts)

 

     Quarter Ended  
  

April 29,

2006

   

July 29,

2006

   

October 28,

2006

   

February 3,

2007

 
                       (14 Weeks)  

Net sales

   $ 1,869,962     $ 2,081,158     $ 1,967,540     $ 2,384,836  

Membership fees and other

     42,461       43,355       44,608       46,361  
                                

Total revenues

     1,912,423       2,124,513       2,012,148       2,431,197  
                                

Cost of sales, including buying and occupancy costs

     1,728,227       1,914,030       1,811,531       2,173,001  

Selling, general and administrative expenses

     159,817       164,491       166,547       206,730  

Provision for credit card claims

     —         —         —         2,000  

Preopening expenses

     1,275       1,306       3,141       3,802  
                                

Operating income

     23,104       44,686       30,929       45,664  

Interest income, net

     1,076       954       499       109  

Gain on contingent lease obligations

     3,119       —         —         —    
                                

Income from continuing operations before income taxes

     27,299       45,640       31,428       45,773  

Provision for income taxes

     10,466       17,814       11,589       17,314  
                                

Income from continuing operations

     16,833       27,826       19,839       28,459  

Loss from discontinued operations, net of income tax benefit

     (1,417 )     (1,425 )     (1,496 )     (16,603 )
                                

Net income

   $ 15,416     $ 26,401     $ 18,343     $ 11,856  
                                

Basic earnings per common share:

        

Income from continuing operations

   $ 0.25     $ 0.42     $ 0.30     $ 0.44  

Loss from discontinued operations

     (0.02 )     (0.02 )     (0.02 )     (0.26 )
                                

Net income

   $ 0.23     $ 0.40     $ 0.28     $ 0.18  
                                

Diluted earnings per common share:

        

Income from continuing operations

   $ 0.25     $ 0.41     $ 0.30       0.44  

Loss from discontinued operations

     (0.02 )     (0.02 )     (0.02 )     (0.26 )
                                

Net income

   $ 0.23     $ 0.39     $ 0.28       0.18  
                                

Number of common shares for earnings per share computations:

        

Basic

     67,214,677       66,192,730       64,464,862       64,227,421  

Diluted

     68,097,030       66,952,101       65,260,359       65,191,262