BJ's Wholesale Club 4Q earnings fall on expense
WESTBOROUGH -- BJ's Wholesale Club Inc. says its fiscal fourth-quarter net income fell 81 percent, burdened by a hefty expense tied to some club closings.
The wholesale club operator, which is considering selling itself, also said today that it expects fiscal 2011 earnings below Wall Street expectations, but anticipates first-quarter earnings topping estimates.
BJ's earned $10.2 million, or 19 cents per share, compared with $54.5 million, or $1 per share, in the same period last year.
Adjusted earnings were 95 cents per share, beating analysts' 92 cents.
Revenue for the period ended Jan. 29 climbed 7 percent to $2.96 billion. That met Wall Street's view.
The company expects fiscal 2011 earnings of $2.62 to $2.82 per share and first-quarter earnings of 54 cents to 58 cents per share.