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Bear of the Day

BJ's Wholesale Club (BJ)

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By: Zacks Equity Research
September 01, 2010 | Comment(s): 0
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BJ
BJ's Wholesale Club (BJ) posted lower-than-expected second-quarter 2010 results. The quarterly earnings of $0.67 per share missed the Zacks Consensus Estimate of $0.73.

The company hinted that the quarter has been challenging, as it faced intense competition from supermarket stores trying to grab market share by going aggressive in their pricing. This compelled BJ's to make pricing adjustments at the cost of margin. BJ's forecast a sluggish economic recovery and a weak consumer spending environment in the second half of 2010 that could intensify the competition.

Consequently, the company has taken a conservative stance and lowered its fiscal 2010 guidance. Therefore, we prefer an Underperform recommendation on the stock.

BJ&39;s Wholesale Club (BJ) : FULL ANALYST REPORT

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