Usually things around here are about bad news lately. So we’re pleased to announce that at least one retailer is doing well other than Wal-Mart.
BJ’s Wholesale recorded nearly a 12% same-store sales rise during its third quarter and is even boosting its store openings next year. Executives say the Northeast-based chain of 177 clubs was benefited by high gas prices and that it is taking marketshare from restaurants and grocers.
Usually BJ’s takes a backseat to Costco and Wal-Mart in the wholesale-club discussion, but the current economic turmoil definitely benefits the operator, and anyone doing well right now deserves a little applause.
Do you think that wholesale clubs will continue to thrive in this environment or is it only a matter of time before they feel the crunch?
It’s just a matter of time, Ian. Americans spend loads of money and accumulate tons of unneeded crap regardless of where they shop. Our collective mindset of consumeconsumeconsume got us in to this mess, and only through the practice of austerity can we recover.
By the way – when are you going to replace that photo? It looks like it was taken with a Polaroid!