BJ’s Wholesale Club’s digital sales surge 300% amidst COVID-19 restrictions

BJ’s Wholesale Club Holdings Inc. (NYSE: BJ) said on Thursday that its profit and sales in the fiscal second quarter came in stronger than experts’ forecast. The company attributed its hawkish performance to digital sales that it said saw a fourfold increase in the recent quarter due to COVID-19 restrictions. In separate news from the global retail sector, Alibaba also published its quarterly financial results on Thursday. In premarket trading, shares of the company rallied 1.4% on Thursday but lost the entire gain on market open. Including the price action, BJ’s Wholesale Club Holdings is now trading at £33 per