BJ's Wholesale quarterly profit jumps 24 percent

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NEW YORK (Reuters) - BJ's Wholesale Club Inc posted a 24 percent rise in third quarter profit on Wednesday, helped by an increase in shoppers coming to its stores and stronger-than-expected results from its gasoline stations.

The No 3 U.S. warehouse club operator also raised its forecast for full-year profit.

Profit for the third quarter ended November 1 was $28.2 million, or 48 cents per share, including a 1-cent-per-share charge for the closing of a club in South Carolina. A year earlier, profit was $22.7 million, or 35 cents per share.

Earlier this month, BJ's said it expected third-quarter earnings of 45 cents to 49 cents per share, up from a previous view of 36 cents to 40 cents per share, due to strong profits from its gasoline stations.

Shoppers pay an annual fee to shop at warehouse clubs like BJ's, Costco Wholesale Corp and Wal-Mart Stores Inc's Sam's Club to get discounts on everything from groceries to bulk-sized packages of toothpaste.

Many warehouse club locations also operate gas stations, which typically sell fuel cheaper than local competitors, helping to lure shoppers with stretched limited budgets.

Earlier this month, BJ's said third-quarter sales rose 13.4 percent to $2.4 billion, while sales at its clubs open at least at year, or same-store sales, rose 11.9 percent.

For the full year, it expects earnings per share of $2.20 to $2.30, up from an earlier view of $2.10 to $2.20 per share.

Analysts, on average, had been expecting it to earn $2.22.

(Reporting by Nicole Maestri; Editing by Derek Caney)

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