BJ's Cutting Back on Cap-Ex

BJ's Wholesale Clubs here said yesterday it plans to reduce capital spending by 20% or more over the next couple of years as it opens fewer stores per year.

NATICK, Mass. — BJ's Wholesale Clubs here said yesterday it plans to reduce capital spending by 20% or more over the next couple of years as it opens fewer stores per year. Frank Forward, chief financial officer, said BJ's expects to allocate $110 million to $120 million to cap-ex this year, compared with earlier guidance of $140 million to $150 million, with five openings rather than the eight to nine originally forecast. “In the next couple of years, we want to make sure every club we open

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