Citi: BJ’s third-quarter preview: Same-store growth expected to remain steady; further valuation gains depend on new openings
Citi expects BJ’s third-quarter same-store sales to grow 5%, close to the market consensus, and expects full-year guidance to remain intact. However, transaction growth is slowing and earnings forecasts have been trimmed; after the stock’s approximately 40% gain this year, further revaluation requires new-store expansion alongside improvements in traffic and margins.