Form 8-K

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

 

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of report (Date of earliest event reported): March 6, 2008

 

 

BJ’s Wholesale Club, Inc.

(Exact Name of Registrant as Specified in Charter)

 

Delaware   001-13143   04-3360747

(State or Other Jurisdiction

of Incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

 

One Mercer Road, Natick, Massachusetts   01760
(Address of Principal Executive Offices)   (Zip Code)

Registrant’s telephone number, including area code: (508) 651-7400

N/A

(Former Name or Former Address, if Changed Since Last Report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 


Item 7.01. Regulation FD Disclosure

In the fourth quarter ended February 2, 2008, BJ’s Wholesale Club, Inc. (the “Company”) changed the classification of certain payroll expenses from cost of sales, including buying and occupancy costs, to selling, general and administrative (“SG&A”) expenses. We have reclassified prior period financial statements to conform with the presentation recorded in the fourth quarter.

In response to requests from certain analysts, the Company is presenting in the table below the amounts of cost of sales and SG&A expenses (as reclassified and as previously presented) by quarter for the fiscal years ended February 2, 2008 and February 3, 2007 (dollars in thousands). The fourth quarter of the fiscal year ended February 3, 2007 contained 14 weeks. All other quarters presented had 13 weeks.

 

     As Reclassified
     Cost of Sales    SG&A Expenses
     FYE 2/2/08    FYE 2/3/07    FYE 2/2/08    FYE 2/3/07
     (52 weeks)    (53 weeks)    (52 weeks)    (53 weeks)

Q1

   $ 1,868,513    $ 1,726,417    $ 165,051    $ 161,627

Q2

     2,069,089      1,912,154      174,812      166,367

Q3

     1,961,228      1,809,645      172,933      168,433

Q4

     2,212,484      2,170,909      181,046      208,822
                           
   $ 8,111,314    $ 7,619,125    $ 693,842    $ 705,249
                           

 

     As Previously Reported
     Cost of Sales    SG&A Expenses
     FYE 2/2/08    FYE 2/3/07    FYE 2/2/08    FYE 2/3/07
     (52 weeks)    (53 weeks)    (52 weeks)    (53 weeks)

Q1

   $ 1,870,409    $ 1,728,227    $ 163,155    $ 159,817

Q2

     2,070,893      1,914,030      173,008      164,491

Q3

     1,963,141      1,811,531      171,020      166,547

Q4

     N/A      2,173,001      N/A      206,730
                   
        $7,626,789       $ 697,585
                   

 


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: March 6, 2008

BJ’s WHOLESALE CLUB, INC.

By:  /s/  Frank D. Forward                        

        Frank D. Forward

        Executive Vice President and

        Chief Financial Officer