BJ's Wholesale Boosts Buyback

The company can now repurchase $165 million of stock.
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BJ's Wholesale Club

(BJ) - Get Report

, the seller of bulk goods from membership-only warehouses, said its board has authorized the repurchase of an additional $100 million of common stock.

The added approval takes the amount kept aside for share buybacks to $165 million. The company said the buybacks might be made from time to time, at management's discretion, in the open market or in privately negotiated transactions.

Last year, BJ's purchased about 2.5 million shares at an average cost of $28.88 each, for a total of around $73 million.

Shares of BJ's were up 43 cents to $31.73 Wednesday.

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