Gasoline prices are surging. Supply-chain disruptions are wrecking distribution of fruits and vegetables.
And with inflation inflating the cost of everything, consumers are being very picky about where and for what they put their money down.
That’s a good economic environment for the warehouse clubs, which in return for their membership fees save consumers money on larger-scale purchases and fuel for their vehicles.
On May 19, BJ’s reported that for the first quarter ended April 29, per-share net income rose 39% on 16% higher revenue.
And Robert Eddy, chief executive of the Westborough, Mass., operator of 229 warehouse retail stores in 17 states, and his team made clear in the company’s conference call with analysts that that’s no accident.
Gasoline Drives Memberships, Not Just Cars
Gasoline prices are, as America sees them, shooting the moon, even if they’re still about half what some countries pay.