Income drops for BJ's Wholesale Club
Natick-based BJ's Wholesale Club reported its Q3 results, noting net income of $18.3 million in '06, dropping from $27.8 million recorded in the same quarter last year.
Net income for the first nine months of '06 also decreased from last year, with the Company recording $60.2 million in '06, down from $76.9 million in 2005. The Company also noted that Q3 results included $2.7 million post-tax, or $.04 per diluted share, for stock based compensation expense compared to $.02 million, post-tax, for stock-based compensation expense last year.
The Company also announced that it purchased one million shares of BJ's common stock during Q3 at an average price of $27.15 per share, or approximately $27 million. On the year, BJ's has purchased approximately 3.6 million shares of BJ's stock at an average price of $28.17 per share, or approximately $103 million.
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