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Bj's Wholesale Club


Bj's Wholesale Club is one of the publicly traded companies having a good stock performance result. Bj's Wholesale Club is a fortune 500 stock listed company trading under BJ.
 
The first BJ's opened its doors in Medford, Massachusetts in 1984. Today, BJ's Wholesale Club, Inc. is a leading wholesale club chain operating in the eastern United States from Maine to Miami and in the state of Ohio. Mr. Michael T. Wedge isChief Exec. Officer, Pres, Director, Member of Fin. Committee and Member of Exec. Committee.

In 2005, results for the first quarter included 2.9 million dollars of post-tax income, resulting from a recovery of certain claims related to the House2Home bankruptcy and 1.8 million dollars of post-tax expense to increase the company's reserve for claims by various credit card issuing banks. The net total of these 2 items was 1.1 million dollars or 0.02 dollars per diluted share of income which was not included in the company's first quarter earnings guidance of 0.22 dollars to 0.25 dollars per diluted share. The charge to increase the company's credit card reserve was driven primarily by an increase in the company's estimate of legal expenses to be incurred. BJ's is vigorously contesting all claims and will continue to explore all possible defenses and all possible claims against others.

In April 2006, BJ's Wholesale Club, Inc. reported that sales for March 2006 increased by 7.3 percent, from 664.2 million to 712.7 million dollars in March 2005. On a comparable club basis sales increased by 3.1 percent including a contribution from sales of gasoline of approximately 0.9 percent. Due to a calendar shift in the Easter holiday, the month of March included one extra day of sales versus 2005 when all BJ's clubs were closed on Sunday, March 27. In 2006, BJ's Wholesale Club has authorized the repurchase of up to an additional 100 million dollars of the Company's common stock. Including the additional 100 million dollars authorization announced today, a total of approximately 165 million dollars is available for share repurchase. In 2005, the company purchased approximately 2.5 million shares at an average cost of 28.88 dollars per share or approximately 73 million dollars. It had approximately 67.5 million shares outstanding as of March 24, 2006.

BJ's is provides its members with high-quality, brand-name merchandise at prices that are significantly lower than the prices found at supermarkets, super centers, department stores, drug stores and specialty retail stores. This has made the company to have good stock performance result.

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