Tough Month for BJ's....How is it affecting you??

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BJ's Wholesale Club, Inc. reported Thursday a 6.8% decline in same store sales for the month of May, hurt chiefly by lower gasoline prices and volume.

BJ's said that sales for May dipped by 4.7% to $783.4 million from $822 million a year ago.

It's been a tough go for retailers, but BJ's has been doing a decent job during this recession, some say that BJ's stock will dip under $30.00 a share...We're wondering how it's affecting workers, from what we've heard on the street is that the recession has cut hours, and put most employees under tremendous pressure...What's your thoughts?

Here's what some top news agencies had to say:

BJ's down 6.8%

Marketwatch: BJ's DOWN.

BJ's same store sales down, Boston Globe reports.

BJ's Briefs...an inked deal in Flushing, a lawsuit, and more...

Image by Getty Images via Daylife

Here's some recent press BJ's has gotten in the past week:

BJ's Wholesale Club inks another lease in the NYC Metro area.

BJ's to take 170,000 sqft in Canarsie, Brooklyn.

An 89 year old widow is suing BJ's Wholesale Club in an age biased firing.

BJ's eyes are still on Pittsburgh.

Another BJ's to Brooklyn

Image via Wikipedia

A release surfaced last week saying BJ's just inked a deal to anchor a new shopping center in Canarsie Brooklyn. The company continues to expand in a struggling economy and to areas which lack shopping options.

Obama: "We will pass the Employee Free Choice Act," Meanwhile BJ's continues to profit, what's this all add up to?

Image via Wikipedia

Yesterday the Wall Street Journal ran a story which said that President Barack Obama told AFL-CIO union leaders Tuesday in a videotaped address that the controversial Employee Free Choice Act will pass, "signaling his full backing for legislation that makes union organizing easier..."

"We will pass the Employee Free Choice Act," President Obama told more than 100 top labor officials in a closed-door meeting at the labor federation's winter gathering in Miami, according to people at the meeting.

If you'd like read the entire article at the Wall Street Journal

The real question is if you think this could be good for BJ's? Take the poll to your left, leave your comments below, The UFCW has a site on the Employee Free Choice Act for further reference also

Meanwhile, BJ's continues to grow, they reported further growth in the 4th quarter,

Earnings climbed to $52.7 million, or 91 cents per share, from $50.2 million, or 80 cents per share, in the same quarter a year ago.

Read the analysis of BJ's profit's here.

What's this mean to you also?

Back to Basics at BJ's?

From www.boston.com

An interview with Laura Sen on the future of BJ's...

How does it feel to take over during one of the worst economic crises?
We are fortunately in a business model that is well-positioned in a bad economy or a good economy. There's been a migration toward value in the retail world over the years. The value players are the winners. Do I have concerns about what the future may bring or what may happen to us? Sure, but we're very well positioned to not only survive but to grow.

Do you foresee any cuts in BJ's workforce or store closings?
For the moment, we're creating jobs. We just opened a club in Revere. But we're always looking for new efficiencies in our supply chain and club processes. We do not expect any job cuts at this time. That being said, we're very cautious about increased spending.

How long do you think the recession will last?
I wish I had a crystal ball. My guess is all of 2009 will be a tough year. We might see some light in a year from now. A lot rests on the administration and what kind of stimulus they can get that will reignite employment, housing, and the credit markets.

What is the best way to jump-start the economy - a spending stimulus, tax cuts, rebate checks?
A rebate check to somebody who is unemployed helps them for a very short time. What needs to happen - and it's the same approach we use here - is we need long-term sustainable measures that will create fertilizer for the ground so things can grow. We need systemic efforts - focusing on infrastructure improvements that will create jobs, education, and social programs that will help create jobs, and some of the tax measures will help create spending.

Another BJ's Executive to another Retail Board...

Perry Kramer, vice president of sales operations, corporate and distributed solutions at BJ’s Wholesale Club, Natick, Mass., has been elected co-chair of the board of directors of the Association for Retail Technology Standards (ARTS), the standards division of the National Retail Federation in Washington. Read it here.

On Wednesday

Wednesday BJ's Wholesale Club will release fourth-quarter financial results....Rumor has it they will report a net income of 86 cents a share, compared with 81 cents last year, continuing to blossom.

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Enjoy the Holidays

We hope you enjoy your holidays, we'll be back next week and unveil our new 2009 plans.

Until then we hope the recent gains by BJ's [BJ's Wholesale Club - up 11.5%] are being reflected upon you, the workers who deserve the credit.

Happy Holidays!