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Article: BJ's Wholesale Club, Inc. Reports Record Third Quarter Sales and Earnings; Repurchases $26.2 Million of Common Stock.
- Article from:
- Business Wire
- Article date:
- November 17, 1998
CopyrightCOPYRIGHT 1998 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NATICK, Mass.--(BUSINESS WIRE)--Nov. 17, 1998--BJ's Wholesale Club, Inc. (NYSE:BJ) today announced that net income for its third quarter ended October 31, 1998 was $14.4 million, or $.38 per diluted share, compared with $13.8 million, or $.36 per diluted share, recorded in the third quarter of 1997. This year's financial results include the effect of changes in accounting methods for membership fees and preopening expenses (see Notes A1 and A2). Last year's results are not restated.
Year-to-date, net income was $24.8 million, or $.65 per diluted share, compared with $35.8 million, or $.95 per diluted share, recorded in the first nine months of 1997. This year's ...