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BJ's Wholesale (BJ) to Accept SNAP EBT Payments of Members

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BJ's Wholesale Club Holdings, Inc. (BJ - Free Report) has been strengthening its omni-channel offerings and rolling out digital services for a while to provide consumers with a seamless shopping experience. In latest developments, management announced that BJ will accept SNAP EBT payments at all its clubs chainwide, while members check out on or the BJ’s mobile app.

The SNAP EBT payments used on have suitable shopping options like free pickup, shipping and same-day delivery. Members using the SNAP EBT cards to shop online have the choice of selecting from several delivery methods with greater flexibility and convenience. Also, members have the option of splitting payments at checkout, and using both the EBT card and debit or credit card to suit their preferences.

We note that BJ is constantly making efforts to enhance its online SNAP EBT payment choices. BJ's Wholesale Club is directing its resources toward expanding digital capabilities to better engage with members and provide them with a convenient way to shop, including same-day delivery, curbside pick-up, and buy-online, pickup-in-club. BJ continues bolstering its omni-channel operations and ramping up delivery services.

What Else?

Over the past six months, shares of this warehouse club operator have increased 22.5% against the industry’s 4.3% decline. BJ's Wholesale Club’s focus on simplifying assortments, boosting marketing and merchandising capabilities, expanding into high-demand categories as well as building its own-brands portfolio appears quite encouraging. Own brands penetration increased 200 basis points to 25% of merchandise sales during the second quarter of fiscal 2022.

This currently Zacks Rank #1 (Strong Buy) player’s growth strategies, better price management, decent membership trends and digitization continuously support its comparable sales. Total comparable club sales (comps) jumped 19.8% in the fiscal second quarter. This same increased 14.4%, 8.8%, 13.1% and 4% in the preceding four quarters.

Comps in the grocery, perishables and sundries division grew 8% in the reported quarter. General merchandise and services division comps increased 4%. Management now envisions fiscal 2022 comparable club sales, excluding the impact of gasoline sales, to increase between 4% and 5%, up from the prior view of low single-digit growth.

Eye These Solid Picks Too

Here we highlighted three other top-ranked stocks, namely, Designer Brands (DBI - Free Report) , Delta Apparel (DLA - Free Report) and Caleres (CAL - Free Report) .

Designer Brands designs, manufactures and retails footwear and accessories. The stock currently sports a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Designer Brands’ current financial-year revenues and earnings per share (EPS) suggests growth of 6.9% and 23.5%, respectively, from the corresponding year-ago reported figures. DBI has a trailing four-quarter earnings surprise of 55.1%, on average.

Delta Apparel is a manufacturer of activewear and lifestyle apparel products. DLA has a Zacks Rank #2 (Buy) at present.

The Zacks Consensus Estimate for Delta Apparel’s current financial-year sales and EPS suggests growth of 12.6% and 27.4%, respectively, from the year-ago corresponding figures. DLA has a trailing four-quarter earnings surprise of 34.2%, on average.

Caleres, a footwear dealer, has a Zacks Rank of 2 at present. CAL has a trailing four-quarter earnings surprise of 34.9%, on average.

The Zacks Consensus Estimate for Caleres’ current financial-year sales and EPS suggests growth of 5.6% and 0.9%, respectively, from the year-ago corresponding figures.

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