Price Competition Sinks BJ's Profits

Citing "an intense level of price competition" from discounters and supermarkets, BJ's Wholesale Club here invested more heavily than expected in its own prices during the second quarter, causing margins and earnings to fall below expectations.

NATICK, Mass. — Citing "an intense level of price competition" from discounters and supermarkets, BJ's Wholesale Club here invested more heavily than expected in its own prices during the second quarter, causing margins and earnings to fall below expectations.

The retailer on Wednesday also adjusted its forecast for sales and earnings in the fiscal year, saying earnings would likely come in at $2.40 to $2.50 per share, down from a May forecast of $2.58 to $2.68. Sales growth wa

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