(Ian Ritter is national online editor for GlobeSt.com/RETAIL.)

NATICK, MA-BJ's Wholesale Club will add 12 to 15 stores this year and an additional 15 to 18 in 2007, an increase from the nine units the company opened last year. Store openings for the 163-store chain in 2008 should follow a similar pattern, executives said during their quarterly conference call.

"We are planning for three more years of growth in our current markets," said Michael Wedge, the company's president and chief executive officer. New store openings this year are planned for Connecticut, Florida, New York, Pennsylvania and Virginia.

During the company's fourth quarter, which ended Jan. 28, year-over-year same-store sales inched up 1.7%, on total sales of $2.1 billion, which increased by 5%. For all of 2005, same-store sales rose 1.3%; executives are planning for 1% comps during the current quarter and a rise between 3% and 5% for the rest of the year. February same-store sales have come in at a 1.6% increase.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.