BJ's profit falls sharply

BJ's Wholesale Club Inc., the Natick-based operator of a chain of wholesale stores, said today that fiscal third-quarter earnings fell 34 percent as costs edged higher in step with sales, but per-share results were ahead of Wall Street estimates.

Net income fell to $18.3 million, or 28 cents per share from $27.8 million, or 41 cents per share, in the year-ago period.

The latest period included a charge of $2.7 million, or 4 cents per share, related to stock option costs, up from $200,000 in that post a year earlier.

Revenue rose 3 percent to $2.02 billion from $1.96 billion last year, falling short of the Street's estimate for $2.04 billion.

Costs of sales rose 3 percent to $1.82 billion from $1.77 billion last year. (AP)

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