BJ's Wholesale Club Holdings Inc. (BJ) shares plummeted 6.37% during intraday trading on Friday, extending losses from the pre-market session.

The sharp decline followed the release of the company's fiscal first-quarter 2026 results, which revealed a decline in profitability. While net sales rose 9.9% year-over-year to $5.53 billion, adjusted earnings per share slipped 2.7% to $1.10, down from $1.14 in the same period last year. Net income also fell 4.7% to $142.73 million.

Despite the adjusted EPS figure beating the consensus analyst estimate of $1.03, the year-over-year decline in earnings appears to have driven negative investor sentiment. The results highlighted that growth was largely driven by gasoline sales, with merchandise-only comparable sales increasing by a more modest 1.5%.