BJ's First-Quarter Profit Plunges, But Fresh Food, Private Label Gain
NATICK, Mass. -- BJ's Wholesale Club, Inc. here today posted net income of $15.4 million, or 23 cents per diluted share, for the first quarter ended April 29, a decline of 17 percent from the year-ago period, when the company reported net income of $18.6 million, or 27 cents per diluted share. In a conference call yesterday the company's acting c.f.o., Frank Forward, cited such factors as continued soft traffic and general merchandise trends and rapidly rising gas prices for the downturn.