Please do not leave this page until complete. This can take a few moments.
BJ’s Wholesale Club reported strong year-over-year growth as the Westborough-based retailer launches a new plan for growth.
The company reported profits for 2019 of $187.2 million, or $1.35 per diluted share, reflecting 29% year-over-year growth.
The strong performance was not reflected in the fourth quarter results, however, with profits down 35.1% year-over-year. While the company’s stock on the New York Stock Exchange fell 3% by 9:30 a.m., it had climbed back half way by 10:15 a.m.
In the press release announcing the company’s year-end results, President and CEO Lee Delaney said the company’s priority is to accelerate growth. The company launched Project Momentum in the fourth quarter, which is a cost reduction program expected to generate savings over the next two years and allow for investment in more opportunities such as expanding membership.
Stay connected! Every business day, WBJ Daily Report will be delivered to your inbox by noon. It provides a daily update of the area’s most important business news.
Sign upWorcester Business Journal provides the top coverage of news, trends, data, politics and personalities of the Central Mass business community. Get the news and information you need from the award-winning writers at WBJ. Don’t miss out - subscribe today.
SubscribeWorcester Business Journal presents a special commemorative edition celebrating the 300th anniversary of the city of Worcester. This landmark publication covers the city and region’s rich history of growth and innovation.
See Digital EditionStay connected! Every business day, WBJ Daily Report will be delivered to your inbox by noon. It provides a daily update of the area’s most important business news.
Worcester Business Journal provides the top coverage of news, trends, data, politics and personalities of the Central Mass business community. Get the news and information you need from the award-winning writers at WBJ. Don’t miss out - subscribe today.
Worcester Business Journal presents a special commemorative edition celebrating the 300th anniversary of the city of Worcester. This landmark publication covers the city and region’s rich history of growth and innovation.
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
This website uses cookies to ensure you get the best experience on our website. Our privacy policy
To ensure the best experience on our website, articles cannot be read without allowing cookies. Please allow cookies to continue reading. Our privacy policy
0 Comments