BJ’s Wholesale Club files for initial public offering
BJ’s Wholesale Club Holdings Inc. said it’s launching an initial public offering, according to a filing with the Securities and Exchange Commission late Thursday. BJ’s said it plans to raise up to $100 million in the offering, but this amount is usually used as a placeholder and is subject to change in future filings. The wholesale club plans to list under the ticker “BJ” on the New York Stock Exchange. Bank of America Merrill Lynch, Deutsche Bank, Goldman Sachs, and J.P. Morgan are listed among the underwriters. In the fiscal year ended Feb. 3, BJ’s reported revenue of $12.75 billion and adjusted net income of $3.94 a share, based on 13.2 million shares outstanding.