BJ’s Wholesale Club has raised its full-year earnings outlook after a stronger-than-expected second quarter, with CEO Bob Eddy citing higher profit and continued membership growth.

“Our value proposition continued to resonate with members in our clubs and at our gas stations, and the momentum we’re seeing across our strategic priorities gives us real confidence in the road ahead,” said Eddy.

For the quarter ended August 1, the company’s gross profit increased to $1.11 billion from $1.01 billion a year earlier. Net income rose to $173.9 million from $150.7 million, while adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization)  increased 14.3 per cent to $347.2 million from $303.9 million.

During the first six months of the fiscal year, gross profit increased to $2.14 billion from $1.98 billion. Net income rose to $316.6 million from $300.5 million, while adjusted EBITDA increased 9.4 per cent to $645.3 million from $589.7 million.

The warehouse retailer said higher membership fee income and fuel sales supported its second-quarter performance, prompting it to raise its full-year adjusted earnings per share guidance. The company maintained its full-year comparable sales outlook.

“We are maintaining our full-year comp sales guidance and remain confident in our ability to deliver sustainable, profitable growth,” added Laura Felice, EVP and CFO, BJ’s Wholesale Club.

• Further reading: BJ’s Wholesale Club lifts sales in Q1, but profit slides.