0818 ET - BJ's Wholesale Club reports largely better-than-expected second-quarter results against a consumer backdrop with plenty of volatility, William Blair analysts say in a research note. Comparable sales growth, excluding fuel, of 3.1% topped Wall Street estimates and came as a relief to investors, who are looking for signs that healthy trends can continue through the remainder of the year. "We expect investors will focus on third-quarter-to-date trends on rising concerns of a consumer pullback and the go-forward outlook for merchandise margins as competitors continue to lean into promotions and price cuts," the analysts write. BJ's shares tick up 3% premarket.