Summary Box: BJ's 4Q earnings fall on charges

AP News
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Posted: Mar 02, 2011 10:48 AM
Summary Box: BJ's 4Q earnings fall on charges

EARNINGS FALL: BJ's Wholesale Club Inc.'s fiscal fourth-quarter net income fell 81 percent on one-time charges. Adjusted earnings beat expectations.

THE DETAILS: The wholesale club operator earned $10.2 million, or 19 cents per share, for the quarter, compared with $54.5 million, or $1 per share, last year. Excluding a charge related to store closings, restructuring and asset impairment, earnings rose to 95 cents per share.

LOOKING AHEAD: The company said it expects shoppers to continue to turn to its stores for deals as higher costs for grain, corn, dairy and other commodity costs begin to filter down to grocery stores.