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): May 21, 2004

 

 

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)

 


Item 9.    Regulation FD Disclosure

 

BJ’s Wholesale Club, Inc. (the “Company”) adopted the provisions of Emerging Issues Task Force Issue 03-10, “Application of EITF Issue No. 02-16 by Resellers to Sales Incentives Offered to Consumers by Manufacturers” (“EITF 03-10”) as of the beginning of its first fiscal quarter, which ended on May 1, 2004. EITF 03-10 provides guidance for the reporting of vendor consideration received by a reseller as it relates to manufacturers’ incentives (such as rebates or coupons) tendered by consumers. Vendor consideration may be included in revenues only if defined criteria are met. Otherwise, such consideration is recorded as a decrease in cost of sales. Implementation of EITF 03-10 has no effect on gross margin dollars, net income or cash flows, but certain vendor coupons or rebates which had been recorded in sales in the past are being recorded as a reduction of cost of sales in the current fiscal year’s statement of income. As permitted by the transition provisions of EITF 03-10, sales and cost of sales in last year’s statement of income will be recast to conform with this year’s financial statement presentation.

 

In response to requests from several investors and analysts, the Company is presenting in the table below recast sales by month for the fiscal year ended January 31, 2004.

 

Fiscal Month


 

Recast Sales Amounts (000’s)


    (unaudited)

February

  $430,136

March

    551,125

April

    456,288

May

    494,867

June

    656,975

July

    483,175

August

    493,170

September

    603,504

October

    504,002

November

    560,269

December

    847,837

January

    472,576

 

The information in this Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such a filing.


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: May 21, 2004

     

BJ’s WHOLESALE CLUB, INC.

            By:  

/s/    FRANK D. FORWARD


               

Frank D. Forward

Executive Vice President and

Chief Financial Officer