Costco and BJ’s reported some impressive same-store sales for June, but peel the onion back a bit and the numbers are not quite as stellar as they seem.
The shifting of Easter to April this year impacted the warehouse club sector last month, as both Costco and BJ’s reported March comps that were negatively impacted by the calendar change.
The past three-months were favorable to the warehouse sector, as both Costco and BJ’s Wholesale reported quarterly results that were in-line with or beat analysts’ expectations.