NATICK, Mass. - BJ's Wholesale Club here said declining traffic, rising costs and narrow margins on gasoline contributed to a weak first-quarter performance.
The company reported a 17.2% decline in first-quarter net income, to $15.4 million, compared with year-ago results.
Separately, activist investor Carl Icahn has taken a 3.7% stake in the retailer, which was reported by SN earlier this year to be drawing the interest of private investors for a possible buyout. Icahn Management, New ...
REGISTER TO VIEW THIS ARTICLE - Register for a Free Account
Registering for content on Supermarket News will give you INSTANT access to invaluable articles and media content that industry professionals rely on. You will have access to our special reports, feature articles, and industry analysis. It’s FREE, easy and quick. What are you waiting for! In addition you will also receive a complimentary copy of SN's salary survey sent to you by email.
Click here to read the FAQ page if you have any questions (opens in a new window)
Attention Paid Print Subscribers: While you have already been granted free access to SN we ask that you register now. We promise it will only take a few minutes! Or visit your profile and add your print magazine account number and zip code.
Already registered? Log In