NATICK, Mass. — An $11.7 million settlement with workers over a wage-and-hour lawsuit contributed to a 37% drop in quarterly net income for BJ’s Wholesale Club, the retailer said Wednesday. Officials emphasized that the lawsuit settlement was a one-time charge, and that excluding that and other one-time expenses, earnings totaled $24.6 million, down 12.8% from $28.2 million in the same period last year, but about what analysts had expected. “Similar issues have affected other retailers, and ...
REGISTER TO VIEW THIS ARTICLE - Register for a Free Account
Registering for content on Supermarket News will give youINSTANTaccess 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’sFREE, 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.
Attention Paid Print Subscribers: While you have already been grantedfreeaccess to SNwe ask that youregister now.We promise it will only take a few minutes! Or visit your profile and add your print magazine account number and zip code.