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MIRA INFORM REPORT
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Report No. : |
493056 |
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Report Date : |
23.02.2018 |
IDENTIFICATION DETAILS
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Name : |
BJ'S WHOLESALE CLUB, INC. |
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Registered Office : |
Corporation Trust Center 1209 Orange St, Wilmington
New Castle DE 19801 |
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Country : |
United States |
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Year of Establishment : |
1994 |
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Legal Form : |
Foreign Corporation |
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Line of Business : |
· The company sells groceries, apparel and accessories, small appliances, consumer electronics, fine jewelry, and other merchandise. · The company’s warehouse clubs provide electronics, computers, office supplies, home and seasonal products, organic foods and meat, sports equipment, toys, baby products, health and beauty supplies, and jewelry. It also sells products online. |
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No. of Employees : |
5 100 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
NOTES:
Any query related to this report can be made on
e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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United States |
A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
UNITED STATES - ECONOMIC OVERVIEW
The US has the most technologically powerful economy in the world, with a per capita GDP of $57,300. US firms are at or near the forefront in technological advances, especially in computers, pharmaceuticals, and medical, aerospace, and military equipment; however, their advantage has narrowed since the end of World War II. Based on a comparison of GDP measured at purchasing power parity conversion rates, the US economy in 2014, having stood as the largest in the world for more than a century, slipped into second place behind China, which has more than tripled the US growth rate for each year of the past four decades.
In the US, private individuals and business firms make most of the decisions, and the federal and state governments buy needed goods and services predominantly in the private marketplace. US business firms enjoy greater flexibility than their counterparts in Western Europe and Japan in decisions to expand capital plant, to lay off surplus workers, and to develop new products. At the same time, businesses face higher barriers to enter their rivals' home markets than foreign firms face entering US markets.
Long-term problems for the US include stagnation of wages for lower-income families, inadequate investment in deteriorating infrastructure, rapidly rising medical and pension costs of an aging population, energy shortages, and sizable current account and budget deficits.
The onrush of technology has been a driving factor in the gradual development of a "two-tier" labor market in which those at the bottom lack the education and the professional/technical skills of those at the top and, more and more, fail to get comparable pay raises, health insurance coverage, and other benefits. But the globalization of trade, and especially the rise of low-wage producers such as China, has put additional downward pressure on wages and upward pressure on the return to capital. Since 1975, practically all the gains in household income have gone to the top 20% of households. Since 1996, dividends and capital gains have grown faster than wages or any other category of after-tax income.
Imported oil accounts for nearly 55% of US consumption and oil has a major impact on the overall health of the economy. Crude oil prices doubled between 2001 and 2006, the year home prices peaked; higher gasoline prices ate into consumers' budgets and many individuals fell behind in their mortgage payments. Oil prices climbed another 50% between 2006 and 2008, and bank foreclosures more than doubled in the same period. Besides dampening the housing market, soaring oil prices caused a drop in the value of the dollar and a deterioration in the US merchandise trade deficit, which peaked at $840 billion in 2008. Because the US economy is energy-intensive, falling oil prices since 2013 have alleviated many of the problems the earlier increases had created.
The sub-prime mortgage crisis, falling home prices, investment bank failures, tight credit, and the global economic downturn pushed the US into a recession by mid-2008. GDP contracted until the third quarter of 2009, making this the deepest and longest downturn since the Great Depression. To help stabilize financial markets, the US Congress established a $700 billion Troubled Asset Relief Program (TARP) in October 2008. The government used some of these funds to purchase equity in US banks and industrial corporations, much of which had been returned to the government by early 2011. In January 2009, Congress passed and President Barack OBAMA signed a bill providing an additional $787 billion fiscal stimulus to be used over 10 years - two-thirds on additional spending and one-third on tax cuts - to create jobs and to help the economy recover. In 2010 and 2011, the federal budget deficit reached nearly 9% of GDP. In 2012, the Federal Government reduced the growth of spending and the deficit shrank to 7.6% of GDP. US revenues from taxes and other sources are lower, as a percentage of GDP, than those of most other countries.
Wars in Iraq and Afghanistan required major shifts in national resources from civilian to military purposes and contributed to the growth of the budget deficit and public debt. Through 2014, the direct costs of the wars totaled more than $1.5 trillion, according to US Government figures.
In March 2010, President OBAMA signed into law the Patient Protection and Affordable Care Act, a health insurance reform that was designed to extend coverage to an additional 32 million Americans by 2016, through private health insurance for the general population and Medicaid for the impoverished. Total spending on healthcare - public plus private - rose from 9.0% of GDP in 1980 to 17.9% in 2010.
In July 2010, the president signed the DODD-FRANK Wall Street Reform and Consumer Protection Act, a law designed to promote financial stability by protecting consumers from financial abuses, ending taxpayer bailouts of financial firms, dealing with troubled banks that are "too big to fail," and improving accountability and transparency in the financial system - in particular, by requiring certain financial derivatives to be traded in markets that are subject to government regulation and oversight.
In December 2012, the Federal Reserve Board (Fed) announced plans to purchase $85 billion per month of mortgage-backed and Treasury securities in an effort to hold down long-term interest rates, and to keep short-term rates near zero until unemployment dropped below 6.5% or inflation rose above 2.5%. In late 2013, the Fed announced that it would begin scaling back long-term bond purchases to $75 billion per month in January 2014 and further reduce them as conditions warranted; the Fed ended the purchases during the summer of 2014. In 2014, the unemployment rate dropped to 6.2%, and continued to fall to 5.5% by mid-2015, the lowest rate of joblessness since before the global recession began; inflation stood at 1.7%, and public debt as a share of GDP continued to decline, following several years of increases. In December 2015, the Fed raised its target for the benchmark federal funds rate by 0.25%, the first increase since the recession began. With US GDP growth below 2%, the Fed opted to raise rates three times since then, and in mid-June 2017, the range for the target rate stood at 1% to 1.25%.
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Source
: CIA |
STATUTORY
INFORMATION
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Legal Name: |
BJ'S WHOLESALE CLUB, INC. |
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TradeName: |
BJ´S |
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ID: |
2677116 |
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Date Created: |
1994 |
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Date Incorporated: |
11/1/1996 |
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Legal Address: |
CORPORATION TRUST CENTER 1209 ORANGE ST, WILMINGTON
New Castle DE 19801 |
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Operative Address: |
25 RESEARCH DRIVE WESTBOROUGH MA 01581, USA |
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Telephone: |
+1 800-257-2582 |
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Fax: |
+1 800-257-2582 |
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Legal Form: |
Foreign Corporation |
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Email: |
NA |
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Registered in: |
DELAWARE |
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Website: |
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Contact: |
Christopher J. Baldwin - President and CEO |
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Staff: |
5 100 |
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Activity: |
Wholesale Stores. |
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Banks
The company does not make its banking data public |
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History
The company was founded
in 1994 and is based in Westborough, Massachusetts with distribution centers
in Uxbridge, Massachusetts; Jacksonville, Florida; Rocky Hill, Connecticut;
Elkton, Maryland; and Burlington, New Jersey. As of September 30, 2011, BJ's Wholesale Club Inc.
was taken private. |
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Key Develeopments: |
BJ's Wholesale Club Inc. Key Developments BJ's Wholesale Club Announces Opening of New Club in
Roanoke, Va. in 2018 Oct 27 17 BJ's Wholesale Club announced that the company is
opening a new club in Roanoke, Va. in 2018, which could save local shoppers
nearly $60 million a year on their grocery bills. The Roanoke club will be
located along Hershberger Road, N.W. in the Crossroads Shopping Center. The
BJ's Wholesale Club is scheduled to open in 2018 and will provide affordable
fresh food options to the community, saving families 25% compared to grocery
store prices. The club will feature a BJ's Gas® station, offering members
even more savings. BJ's Wholesale Club Inc. Presents at 2017 MIT Sloan
CFO Summit, Nov-16-2017 12:15 PM Oct 12 17 BJ's Wholesale Club Inc. Presents at 2017 MIT Sloan
CFO Summit, Nov-16-2017 12:15 PM. Venue: Boston Marriott Newton, Newton, Massachusetts,
United States. Speakers: Robert W. Eddy, Chief Financial Officer and
Executive Vice President. BJ's Wholesale Reportedly On The Block Sep 26 17 BJ's Wholesale Club Inc. could be put up for sale.
Leonard Green & Partners, L.P. and CVC Capital Partners Limited intend to
exit their investment via a sale rather than an initial public offering, The
Post has learned. The sources added that CVC and Leonard expect to attract an
offer of between $4 billion and $4.5 billion, sources said. The owners are in
the process of premarketing the chain. The sellers are talking to KKR &
Co. L.P. (NYSE:KKR), sources added. NY Post added that CVC and Leonard
declined to comment. |
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Press Release: |
BJ’s Wholesale Club up for sale and Amazon may be
interested By Josh Kosman April 14, 2017 BJ’s Wholesale Club is putting itself up for sale,
and Amazon has expressed modest internal interest in the chain, sources tell
The Post. BJ’s, a Northeast-regional warehouse retailer that’s
owned by private equity firms, has recently scrapped ambitions for an initial
public offering because of Wall Street’s growing worries over the retail
sector, sources said. Instead, CVC Capital Partners and Leonard Green
& Partners, the buyout firms that took BJ’s private for $2.8 billion six
years ago, are pressing ahead for an outright sale that could fetch more than
$4 billion, according to people close to the situation. |
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PRINCIPAL
ACTIVITY
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The company sells groceries, apparel and accessories, small appliances,
consumer electronics, fine jewelry, and other merchandise. |
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Products/Services description: |
The company’s warehouse clubs provide electronics,
computers, office supplies, home and seasonal products, organic foods and
meat, sports equipment, toys, baby products, health and beauty supplies, and
jewelry. It also sells products online. |
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Brands: |
BJ'S WHOLESALE CLUB BJ'S CLUB CARD MARATHON BJ'S OPTICAL DEPARTMENT BJ'S FAST FOOD EXPRESS |
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Sales are: |
Wholesale. |
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Clients: |
All consumers. |
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Suppliers: |
Shanghai Jingyu Trading Ltd in China. |
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Operations area: |
The company operates in Connecticut, De laware,
Florida, Georgia, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New
York, North Carolina, Ohio, Pennsylvania, Rhode Island and Virginia. |
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The company imports from |
Bj's Wholesale Club Inc imports from Shanghai Jingyu
Trading Ltd in China. |
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The company exports to |
No found. |
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The subject employs |
5 100 Employees |
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Payments: |
Regular |
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LOCATION
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Headquarters : |
25 RESEARCH DRIVE WESTBOROUGH MA 01581, US |
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Branches: |
BJ’s operates 213 warehouse clubs and 130 gas
stations across 15 states |
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Related Companies: |
BJ's is owned by an affiliate of Leonard Green
& Partners and funds advised by CVC Capital Partners . |
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GROUP STRUCTURE AND SUBSIDIARY COMPANIES
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Listed at the stock exchange: |
NO |
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Capital: |
NA |
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Shareholders: |
This is a privately held company. In 2014 BJ's was
fully bought by Leonard Green & Partners. |
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Management: |
Mr. Christopher J. Baldwin CEO, President & Director Mr. Robert W. Eddy CFO & Executive VP Ms. Laura L. Felice Senior VP of Finance & Controller Mr. Scott Kessler Chief Information Officer & Executive VP Mr. Graham Luce Senior VP, General Counsel & Secretary |
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FINANCIAL
INFORMATION
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The company does not make its financial statements public. The following
information has been provided by private sources: |
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USD2016 / Estimated |
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Assets |
215 000 000 |
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Cash flow |
Normal |
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LEGAL
FILINGS
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CASES |
SPRATT et al v. BJ'S WHOLESALE CLUB, INC. Plaintiff: MADONNA SPRATT and JOSEPH SPRATT Defendant: BJ'S WHOLESALE CLUB, INC. Case Number: 2:2018cv00028 Filed: January 4, 2018 Court: Pennsylvania Eastern District Court Office: Philadelphia Office County: Bucks Presiding Judge: GERALD A. MCHUGH Nature of Suit: Other Personal Injury Cause of Action: 28:1332 Jury Demanded By: Defendant MANHEIMER et al v. BJ'S WHOLESALE CLUB, INC. et al Plaintiff: MEREDITH MANHEIMER and TYLER MANHEIMER Defendant: BJ'S WHOLESALE CLUB, INC., JOHN
DOES 1-10 and XYZ CORPORATIONS 1-10 Case Number: 3:2017cv04920 Filed: July 5, 2017 Court: New Jersey District Court Office: Trenton Office County: Ocean Referring Judge: Tonianne J. Bongiovanni Presiding Judge: Peter G. Sheridan Nature of Suit: Other Personal Injury Cause of Action: 28:1332 Jury Demanded By: Plaintiff FUNICELLI et al v. BJ'S WHOLESALE CLUB, INC. et al Plaintiff: JAMES FUNICELLI and CAROL FUNICELLI Defendant: BJ&# 039;S WHOLESALE CLUB, INC., JOHN
DOE(S) 1-10 and ABC CORPORATIONS 1-10 Case Number: 3:2017cv02913 Filed: April 28, 2017 Court: New Jersey District Court Office: Trenton Office County: Ocean Referring Judge: Tonianne J. Bongiovanni Presiding Judge: Peter G. Sheridan Nature of Suit: Other Personal Injury Cause of Action: 28:1441 Jury Demanded By: Plaintiff DESCAFANO v. BJ'S WHOLESALE CLUB, INC., No.
3:2015cv07883 - Document 25 (D.N.J. 2016) Court Description: MEMORANDUM AND ORDER granting 11
Motion to Dismiss. Signed by Judge Peter G. Sheridan on 4/27/2016. (km)
Modified on 4/29/2016 (gxh). Castillejo v. BJ'S Wholesale Club, Inc., No.
1:2016cv06973 - Document 11 (S.D.N.Y. 2017) Court Description: MEMORANDUM AND OPINION: For the
foregoing reasons, Plaintiff's motion to remand is DENIED. So Ordered.
(Signed by Judge Vernon S. Broderick on 5/9/2017) (js) BJ's Wholesale Club, Inc. v. Rose M. McCarron |
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TRADEMARKS |
BJ'S WHOLESALE CLUB RETAIL FOOD AND GENERAL MERCHANDISE BUYING CLUB
SERVICES Owned by: BJ'S WHOLESALE CLUB, INC. Serial Number: 74006102 BJ'S WHOLESALE CLUB retail food and general merchandise buying club
services Owned by: BJ'S WHOLESALE CLUB, INC. Serial Number: 74204703 BJ'S CLUB CARD retail food and general merchandise buying club
services Owned by: BJ'S WHOLESALE CLUB, INC. Serial Number: 74214638 MARATHON office paper products; namely, computer paper,
facsimile paper and xerographic paper Owned by: BJ'S WHOLESALE CLUB, INC. Serial Number: 74215576 BJ'S OPTICAL DEPARTMENT optometry services Owned by: BJ'S WHOLESALE CLUB, INC. Serial Number: 74324500 BJ'S FAST FOOD EXPRESS restaurant services Owned by: BJ'S WHOLESALE CLUB, INC. Serial Number: 74324598 |
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RENEWAL HISTORY |
Annual Report 2018 01/26/2018 Annual Report 2017 01/17/2017 Annual Report 2016 01/18/2016 Amended Foreign Corporations Certificate 07/14/2015 Annual Report 2015 01/08/2015 Annual Report 2014 04/17/2014 Annual Report 2013 01/31/2013 Annual Report 2012 02/21/2012 Annual Report 2011 04/08/2011 Annual Report 2010 04/08/2010 Annual Report 2009 04/06/2009 |
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UCC |
UCC-1 Standard UCC Filing Number: Filing Date: 201191664150 11/9/2011 12:27:00 PM Files: 201191664150 Action: InitialFiling Debtor(s) B J'S WHOLESALE CLUB, INC. 25 RESEARCH DR WESTBOROUGH MA 01581
Secured Parties AMERICAN BANK NOTE COMPANY, AS AGENT FOR THE UNITED
STATES POSTAL SERVICE 2520 METROPOLITAN DRIVE TREVOSE PA 19053
UCC-3 CONTINUATION UCC Filing Number: Filing Date: 201631563050 9/30/2016 10:32:00 AM Action: Continuation Request Certified Copy Debtor(s) B J'S WHOLESALE CLUB, INC. 25 RESEARCH DR WESTBOROUGH MA 01581
Secured Parties AMERICAN BANK NOTE COMPANY, AS AGENT FOR THE UNITED
STATES POSTAL SERVICE 2520 METROPOLITAN DRIVE TREVOSE PA 19053 UCC-1 Standard UCC Filing Number: Filing Date: 201191664150 11/9/2011 12:27:00 PM Action: InitialFiling Request Certified Copy Debtor(s) B J'S WHOLESALE CLUB, INC. 25 RESEARCH DR WESTBOROUGH MA 01581
Secured Parties AMERICAN BANK NOTE COMPANY, AS AGENT FOR THE UNITED
STATES POSTAL SERVICE 2520 METROPOLITAN DRIVE TREVOSE PA 19053
UCC-3 CONTINUATION UCC Filing Number: Filing Date: 201631563050 9/30/2016 10:32:00 AM Action: Continuation Request Certified Copy Debtor(s) B J'S WHOLESALE CLUB, INC. 25 RESEARCH DR WESTBOROUGH MA 01581
Secured Parties AMERICAN BANK NOTE COMPANY, AS AGENT FOR THE UNITED
STATES POSTAL SERVICE 2520 METROPOLITAN DRIVE TREVOSE PA 19053 |
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SUMMARY
BJ’S. is an operator of membership warehouse clubs
located in Westborough, MA. It opened its doors in 1996. The company sells groceries, apparel and
accessories, small appliances, consumer electronics, fine jewelry, and other
merchandise. The company has 5 100 employees and generates an
annual revenue of $250M in estimated assets. The company Inc. imports from Shanghai Jingyu
Trading Ltd in China. It appears as ACTIVE in the records. |
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RISK
INFORMATION
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DEBTS |
Controlled |
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PAYMENTS |
Regular |
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CASH FLOW |
Normal |
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STATUS |
Active |
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INTERVIEW
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NAME |
Paul |
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POSITION |
Sales |
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COMMENTS |
He confirmed address, managers’ name, experience and
locations. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.05 |
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1 |
INR 90.41 |
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Euro |
1 |
INR 79.83 |
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USD |
1 |
INR 64.91 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.