The BJ’s Wholesale Club IPO is happening again as the company has decided to go public for the second time.
Here are seven things you should know about it:
The retailer previously was a publicly traded company for several years until deciding back in 2011 to go private again as two private equity firms bought the company in a deal valued at $2.8 billion. BJ’s Wholesale Club is an East Coast retailer that is one of the main competitors of some of the major retailers in the country, including Walmart Inc (NYSE:WMT), among others. The company has about 215 stores in 16 states. The retailer has more than doubled its profit over the past three years on a challenging retail environment. However, same-store sales have declined narrowly over that span. BJ’s Wholesale Club has been successful enough to avoid closing stores in the way that retailers such as Sam’s Club have done, as the latter closed 63 locations earlier this year. The latter’s success proves to be a bright spot in an increasingly difficult retail environment. The company filed its papers Thursday to go public again, although it is not clear when shares will start trading. The retailer has also yet to reveal what the estimate for the expected value of the company will be once it launches its IPO.