Tuesday, February 10, 2009

Back to Basics at BJ's?

From www.boston.com

An interview with Laura Sen on the future of BJ's...

How does it feel to take over during one of the worst economic crises?
We are fortunately in a business model that is well-positioned in a bad economy or a good economy. There's been a migration toward value in the retail world over the years. The value players are the winners. Do I have concerns about what the future may bring or what may happen to us? Sure, but we're very well positioned to not only survive but to grow.

Do you foresee any cuts in BJ's workforce or store closings?
For the moment, we're creating jobs. We just opened a club in Revere. But we're always looking for new efficiencies in our supply chain and club processes. We do not expect any job cuts at this time. That being said, we're very cautious about increased spending.

How long do you think the recession will last?
I wish I had a crystal ball. My guess is all of 2009 will be a tough year. We might see some light in a year from now. A lot rests on the administration and what kind of stimulus they can get that will reignite employment, housing, and the credit markets.

What is the best way to jump-start the economy - a spending stimulus, tax cuts, rebate checks?
A rebate check to somebody who is unemployed helps them for a very short time. What needs to happen - and it's the same approach we use here - is we need long-term sustainable measures that will create fertilizer for the ground so things can grow. We need systemic efforts - focusing on infrastructure improvements that will create jobs, education, and social programs that will help create jobs, and some of the tax measures will help create spending.

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Monday, February 02, 2009

Another BJ's Executive to another Retail Board...

Perry Kramer, vice president of sales operations, corporate and distributed solutions at BJ’s Wholesale Club, Natick, Mass., has been elected co-chair of the board of directors of the Association for Retail Technology Standards (ARTS), the standards division of the National Retail Federation in Washington. Read it here.

On Wednesday

Wednesday BJ's Wholesale Club will release fourth-quarter financial results....Rumor has it they will report a net income of 86 cents a share, compared with 81 cents last year, continuing to blossom.

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