BJ’s Wholesale Club Inc.’s third-quarter profit went down 37 percent over a legal settlement regarding worker pay.
Despite the retailer’s enviable position in the recession, which incited growth in membership and sales, shares of BJ’s fell 99 cents, or nearly 3 percent, to $35.35 this morning.
Standar & Poor’s Equity Research downgraded its opinion on share of BJ’s to “Hold” from “Buy” on the grounds of continued pricing competition while food deflation weighs on them.
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