BJ's Wholesale Club Reports Third Quarter Results.

NATICK, Mass. -- BJ's Wholesale Club, Inc. (NYSE: BJ) today reported net income of $17.7 million, or $0.32 per diluted share, for the third quarter of 2009. These results included a charge of $11.7 million pre-tax ($6.9 million post-tax), or $0.13 per diluted share, to establish a reserve in connection with the proposed settlement of a legal claim. The settlement, which is subject to court approval, resolves wage and hour job classification claims.

For the third quarter of 2008, the Company reported net income of $28.2 million, or $0.48 per diluted share. These results included post-tax expense of $0.5 million, or $0.01 per diluted share, related to the closing of the Company's Greenville, South Carolina, club. Results for the third quarter of 2008 also reflected a number of unplanned income and expense items which resulted in a net benefit of approximately $0.10 per diluted share. These items included gasoline income which exceeded plan by approximately $0.17 per share, due primarily to unprecedented market conditions which resulted in unusually strong gasoline sales and profits. Unplanned expenses related to severance costs and an adjustment to the Company's reserve for state sales tax audits were worth approximately $0.04 per share in total. In addition, expenses for higher than planned bonus accruals, triggered by earnings that were above plan, were worth approximately $0.03 per diluted share.

For the first nine months of 2009, net income was $77.1 million, or $1.41 per diluted share. These results included the third quarter charge, as mentioned above. For the first nine months of 2008, the Company reported net income of $81.9 million, or $1.38 per diluted share. Results for the first nine months of 2008 included the club closing expense and unusual income and expense items from the third quarter, as mentioned above, and income of $0.03 per share related to state income tax audit settlements recorded during the second quarter.

Net sales for the third quarter ended October 31, 2009, increased by 2.0% to $2.45 billion from $2.40 billion. For the first nine months of fiscal 2009, net sales decreased by 1.2% to $7.22 billion from $7.30 billion.

Comparable club sales for the third quarter and nine-month period were as follows:

[TABLE OMITTED]

BJ's introduced the wholesale club concept to New England in 1984, and has since expanded to become a leading warehouse chain in the eastern United States. As of the end of the third quarter of 2009, the Company operated 184 clubs in 15 states. BJ's press releases and filings with the SEC are available on the Internet at www.bjs.com.

Conference Calls on Third Quarter and Fiscal Year-End Financial Results

As previously announced, BJ's management will hold a conference call to discuss the third quarter financial results and management's outlook for the rest of the year today at 8:30 a.m. Eastern Time. To access the webcast (including financial and other statistical information being presented, as well as reconciliation information with respect to non-GAAP financial measures), visit www.bjsinvestor.com/events.cfm. An archive of the webcast will be available for approximately 90 days following the call.

On Wednesday, March 3, 2010, BJ's management plans to report the Company's results for the fourth quarter and fiscal year ending on January 30, 2010.

Additional Information

Supplemental financial information, including detailed sales information for the third quarter and earnings guidance for the fourth quarter and full year, 2009, which historically has been provided during the Company's third quarter earnings conference call, is available on the Form 8-K, submitted by the Company today to the SEC. To access this information, visit www.bjsinvestor.com/sec.cfm.

-See Financial Tables-

[TABLE OMITTED]
[TABLE OMITTED]
[TABLE OMITTED]