November 18, 2009
Charge Brings BJ's Q3 Profit Down
By Matthew L. Brown
An $11.7 million charge related to the settlement of a lawsuit brought BJ's Wholesale Club's third quarter profit to $17.7 million from $28.2 million a year ago.
The Natick-based retailer said it brought in $2.5 billion in revenue during the quarter, beating the $2.4 billion it brought in last year. It said unexpectedly strong gasoline sales helped the quarter's results.
For the first nine months of the year, sales decreased by 1.2 percent to $7.22 billion.
BJ's ended the quarter with $55 million in cash and equivalents compared to $53 million last year.
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