BJ's Wholesale Club Stock Up Sharp Today

NY Post Reports a BJ's Possible Takeover:

BJ's Wholesale Club still isn't safe from the clutches of private equity.
Leonard Green & Partners -- a Los Angeles buyout firm that disclosed a 9.5 percent stake in the warehouse chain in July -- remains keen to acquire the retailer and may launch a hostile bid if an auction isn't initiated in the coming weeks, sources told The Post.


Read more: http://www.nypost.com/p/news/business/buying_in_bulk_aP1mhywCsTzLrwANWYdZfI#ixzz19YI3r0DD

BJ's Wholesale Club may face a hostile bid from the takeover firm if the chain does not initiate an auction as planned, according to sources quoted in the New York Post.  Reports are also saying that analysts at Jefferies estimate BJ's could be worth $50 to $55 a share. BJ is up more than 6 percent from yesterday's close.

Happy Holidays!

It's that time of year and we hope everyone has and is having a great holiday season! Fill us in on how you and your stores are being affected by the craziness of shoppers, rumors of the BJ's sale, and all the other dramatics working for BJ's provides-

See you in the new year!


Here's just a few stories to keep you updated with BJ's news:

$9.2 Million Construction Loan for BJ's in Western Massachusetts
"The new BJ's in Pittsfield will satisfy the demand for a warehouse club for much of the Berkshires, as the closest wholesale warehouse club is located 31 miles to the west in Albany, New York"


The Ithaca Journal: County Endorses Financing for BJ's in Lansing
The county approved a payment-in-lieu-of-taxes financing agreement to develop a site with a BJ's Wholesale Club store, senior housing and bird sanctuary in the Village of Lansing. 


BJ's November Revenue Metric Up 5%
Revenue at its stores open at least a year rose 5 % in November with both food and general merchandise sales climbing. 


PETA Urges BJ's to Adopt Less Cruel Method of Chicken Slaughter
PETA has submitted a shareholder resolution encouraging the Boston-based wholesale retailer to purchase all its turkeys from suppliers that use a less cruel method of poultry slaughter. "Bj's should be ashamed that it is lagging behind its competitors in improving conditions for the chickens and turkeys who end up on its shelves."

Is BJ's Wholesale Club For Sale?

Don't know if you all have been catching the rumors like we have in some clubs, but according to multiple reports, BJ's is apparently up for auction.  


BJ's Wholesale Club is rumored to have hired Morgan Stanely to help sell the company after receiving an offer from private-equity firm Leonard Green & Partners LP. Any deal would likely be with private-equity funds and not another retailer. BJ's cash doubled in the second quarter, making it attractive for a takeover. A buyout may be valued at as much as $2.75 billion, and the transaction would be the biggest in the sector since 2007. Leonard Green & Partners has holdings in such retailers as Whole Foods Market Inc., and Petco Animal Supplies Inc. " Month to month, BJ's has been under-performing, it seems like a good candidate for a going-private transaction."


Have any of you heard rumors in your stores?  Has the environment changed at all?


Read the entire story @ Business Week

BJ's In the News: Ground Beef Recall

Hope everyone had a great summer, here is some BJ's news for the months of July and August:

CNN: Company Recalls Ground Beef After E. Coli Reports
The USDA says it believes certain BJ's Wholesale Club stores in Connecticut, Maine, Maryland, Massachusetts, New Jersey, New York  and Virginia received the products. 


Watch a video on the recall at: Ground Beef Recall



Development:
Taunton City Council Gives BJ's Addition the Go-Ahead
Taunton, MA-- The council voted unanimously to allow the completion of a new building adjacent to the existing BJ's Wholesale Club. 

Delaware Business: BJ's Elsmere- Area Store On the Way
The Wholesale club opening is planned for December 2010.


BJ's May Close Store in Westboro
Westboro, MA-- After more than 20-year presence, BJ's may close next year, when the company opens a bigger store less than 2 miles away in Northboro.


BJ's Back in Business After Roof Collapse

Akron, OH-- A BJ's store reopened August 7th after being closed on July 23rd, when a storm damaged its roof. 

Economy:
Price Competition Sinks BJ's Profits
Citing" an intense level of price competition" from discounters and supermarkets, BJ's invested more heavily than expected in its own prices during the second quarter, causing margins and earnings to fall below expectations. 


BJ's Stems Profit Erosion Amid Slowing Sales in Q2
"Going into this year I thought the competitive environment would be a lot more severe as people were trying to gain sales based on the weak environment. But that has not been the case."- Laura Sen, chief executive officer


Downside Purchased on BJ's Wholesale (BJ)
Shares of BJ's Wholesale Club, Inc. are lower on the session by 1.09%. The stock has been basing sideways for the past two months after a sharp pop higher. 


BJ's Wholesale Club July Sales Increase
BJ's Wholesale Club sales for July 2010 increased 2.8% compared to decreased sales of 9.1% in July 2009. 

Here are the results of the poll taken from our last post:

Question: What do you think of BJ's Star of the Year Program?


66% - Its strongly favoritism, I didn't like it
22%- Its legitimate, I love it
13%- It doesn't bother me, I have no opinion


It seems that the majority of you don't agree with the Star of the Year Program. Let us know how you were affected by the Ground Beef Recall by taking our new poll, just to the left of this months post. 




All of the comments from our previous posts are greatly appreciated. We are still receiving feedback on the Wage and Hour Suit story we posted a few months ago: 


Anonymous said that as long as the clubs " hit their numbers ", corporate will not care about day to day issues at the club level...


One anonymous person received a settlement check:  FYI, I got my settlement check today. South Florida.


An anonymous post on the home office: "They don't care about the employees, they just want to run a store with the bare minimum. The more they save the larger the bonus, so sure exploit the few good workers that you do have. If the store was properly staffed, and they stop giving the overtime to a select few then maybe they can manage the building."


Anonymous thinks "In order for BJ's to be a better company, they need to start with the home office." 

BJ's News: Month of June

BJ's Wholesale Club Coming to Clermont in the Spring
Clermont, FL-- A BJ's Wholesale Club is scheduled to open next spring, showing that commercial growth in Clermont is not about to stop, even with a slow down in the construction of new homes. 

Private Equity Takes Stake in BJ's
A private equity firm that has invested in several retailers has taken a 9.5 percent stake in BJ's Wholesale Club Inc and said it might propose taking the warehouse club operator private.

BJ's Wholesale Club Collects More Than 100,000 Letters for Deployed U.S. Service Members
BJ's partnered with nonprofit Operation Gratitude for month-long letter writing campaign.


Analysts Mixed on Taking BJ's Wholesale Private
Going private has the potential to prompt unprecedented growth for BJ's Wholesale Club, analysts said; however, taking that leap could also mean saddling the wholesale retailer with sizable debt as it tries to gain traction against its larger rivals. 

Board Approves BJ's Wholesale Club Plans
PITTSFIELD-- Developers of the proposed BJ's Wholesale Club on Hubbard Avenue have cleared a major regulatory hurdle toward opening next spring.

Looking Back at Recent Earnings from BJ's Wholesale Club
BJ's released its most recent earnings statement on May 19th. BJ's beat expectations with a non profit of 49 cents per share-- 6 cents above the analyst consensus of 43 cents per share.

BJ's Wholesale Club 1Q net income up on gas sales
1Q rose 7 percent, partly helped by gasoline sales. The wholesale club operator also lifted its full-year earnings guidance.

BJ's Leaning on Perishable Foods to Drive Traffic, Sales in 2010
BJ's is increasingly counting on its consumable offerings, specifically perishable goods, in 2010 and beyond to drive frequent customer traffic and transactions and grow its overall business.

Spire to BJ's Wholesale Club Supply Solar Energy System
BJ's announced that the Spire solar energy system enterprise completes BJ's Wholesale Club to sell the field in Winsconsin two solar energy system to install, starts to sell the field in Niuzexi state two install the solar energy system.

BJ's to Re-Launch E-Commerce Site This Summer
BJ's Wholesale Club's e-commerce site is still admittedly not a major contributor to its total business, but this summer, memebers and non- members can expect to see a revamped website.




 

BJ's In the News April 2010

Haven't posted in a while, we'll post the month in comments later this week, but here's some recent BJ's news:

BJ's Wholesale Club to move headquarters to Westborough from Natick

A spokeswoman for BJ’s Wholesale Club said Thursday that the company is planning to move its corporate headquarters and nearly 1,000 employees from Natick to more spacious accommodations in Westborough early next year. 

Quincy to BJ's: Get pretty or else

The city of Quincy got tough with BJ's Wholesale Club over the appearance of a new store, the Patriot Ledger reports.

Is BJ's Wholesale Club a great company, or what?

BJ's Wholesale Club is listed 232 on Fortunes 500 Annual Ranking of Americas Largest Corporations 

Grocery Stores Going Hungry

 A steady stream of shoppers looking for deals on necessities has helped the wholesale club operators Costco Wholesale Corp. and BJ’s Wholesale Club Inc. deliver profit gainswhile many of their grocery competitors struggle....

BJ's Wholesale Club Reports That Sales Rise

BJ's a leading warehouse club operator in the United States , recently posted strong sales results for the five-week period ended April 3, 2010 driven by the shift in Easter holidays and better weather.

Memorial Day Letter Writing Campaign

BJ’s Wholesale Club will be hosting a Memorial Day Letter Writing Campaign from May 1st to May 31st to support our service members and celebrate Military Appreciation Month.

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BJ's In the News April 2010

Haven't posted in a while, we'll post the month in comments later this week, but here's some recent BJ's news:

BJ's Wholesale Club to move headquarters to Westborough from Natick

A spokeswoman for BJ’s Wholesale Club said Thursday that the company is planning to move its corporate headquarters and nearly 1,000 employees from Natick to more spacious accommodations in Westborough early next year. 

Quincy to BJ's: Get pretty or else

The city of Quincy got tough with BJ's Wholesale Club over the appearance of a new store, the Patriot Ledger reports.

Is BJ's Wholesale Club a great company, or what?

BJ's Wholesale Club is listed 232 on Fortunes 500 Annual Ranking of Americas Largest Corporations 

Grocery Stores Going Hungry

 A steady stream of shoppers looking for deals on necessities has helped the wholesale club operators Costco Wholesale Corp. and BJ’s Wholesale Club Inc. deliver profit gainswhile many of their grocery competitors struggle....

BJ's Wholesale Club Reports That Sales Rise

BJ's a leading warehouse club operator in the United States , recently posted strong sales results for the five-week period ended April 3, 2010 driven by the shift in Easter holidays and better weather.

Memorial Day Letter Writing Campaign

BJ’s Wholesale Club will be hosting a Memorial Day Letter Writing Campaign from May 1st to May 31st to support our service members and celebrate Military Appreciation Month.

Share