BJ Engineers Next Years EPS

BJ’s Wholesale Club, Inc (BJ) reported Q3 income. They also came out with their guidance for the next year. Essentially they are telling us that they will make the same amount of money as an enterprise. But the EPS forecast is very interesting. It moves from a range of $2.20 to $2.30 per diluted share for 2008 with three quarters in the bag to $2.27 to $2.39 per diluted share for 2009. In another part of the press release they did mention that “At the end of the third quarter, the Company had approximately $266 million remaining under its buyback authorization.”

The future EPS number will be managed by financial engineering as much as it will be managed by merchandising.