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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 1 )*
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BJ's Wholesale Club, Inc.
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(Name of Issuer)
Common Stock, $.01 par value
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(Title of Class of Securities)
05548J106
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(CUSIP Number)
Check the following box if a fee is being paid with this statement [ ]. (A fee
is not required only if the filing person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7).
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
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<TABLE>
<CAPTION>
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CUSIP NO. 05548J106 13G Page 1 of 3 Pages
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<S> <C>
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Boston Partners Asset Management, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
Not applicable
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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5 SOLE VOTING POWER
-0- shares
NUMBER OF -----------------------------------------------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 3,836,711 shares
EACH -----------------------------------------------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH -0- shares
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8 SHARED DISPOSITIVE POWER
3,836,711 shares
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,836,711 shares
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN [ ]
SHARES*
Not applicable
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
10.18 %
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12 TYPE OF REPORTING PERSON *
IA
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</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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<TABLE>
<CAPTION>
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CUSIP NO. 05548J106 13G Page 2 of 3 Pages
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<S> <C>
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Boston Partners, Inc.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
Not applicable
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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5 SOLE VOTING POWER
-0- shares
NUMBER OF -----------------------------------------------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 3,836,711 shares
EACH -----------------------------------------------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH -0- shares
-----------------------------------------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
3,836,711 shares
- ------------------------------------------------------------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,836,711 shares
- ------------------------------------------------------------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN [ ]
SHARES*
Not applicable
- ------------------------------------------------------------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
10.18 %
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12 TYPE OF REPORTING PERSON *
CO
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</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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<TABLE>
<CAPTION>
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CUSIP NO. 05548J106 13G Page 3 of 3 Pages
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<S> <C>
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Desmond John Heathwood
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
Not applicable
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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5 SOLE VOTING POWER
-0- shares
NUMBER OF -----------------------------------------------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 3,836,711 shares
EACH -----------------------------------------------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH -0- shares
-----------------------------------------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
3,836,711 shares
- ------------------------------------------------------------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,836,711 shares
- ------------------------------------------------------------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN [ ]
SHARES*
Not applicable
- ------------------------------------------------------------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
10.18 %
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12 TYPE OF REPORTING PERSON *
IN
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</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 5
Item 1(a). Name of Issuer: BJ's Wholesale Club, Inc. (the "Issuer").
Item 1(b). Address of Issuer's Principal Executive Offices:
One Mercer Road, Natick, MA 01760
Item 2(a). Names of Persons Filing: Boston Partners Asset Management, L.P.
("BPAM"), Boston Partners, Inc. ("Boston Partners"), and Desmond
John Heathwood. BPAM, Boston Partners, and Mr. Heathwood are
sometimes referred to collectively herein as the "Reporting
Persons."
Item 2(b). Address of Principal Business Office or, if None, Residence:
The address of the principal business office of BPAM, Boston
Partners, and Mr. Heathwood is One Financial Center, 43rd Floor,
Boston, MA 02111.
Item 2(c). Citizenship: BPAM is a Delaware limited partnership. Boston
Partners is a Delaware corporation. Mr. Heathwood is a United
States citizen.
Item 2(d). Title of Class of Securities: Common Stock, $.01 par value
("Common Stock").
Item 2(e). CUSIP Number: 05548J106
Item 3. If this statement is filed pursuant to Rules 13d-1(b), or
13d-2(b), check whether the person filing is a:
(a) [ ] Broker or Dealer registered under Section 15 of the
Securities Exchange Act of 1934 (the "Act").
(b) [ ] Bank as defined in Section 3(a)(6) of the Act.
(c) [ ] Insurance Company as defined in Section 3(a)(19) of
the Act.
(d) [ ] Investment Company registered under Section 8 of
the Investment Company Act of 1940.
(e) [X] Investment Adviser registered under Section 203 of
the Investment Advisers Act of 1940.
(f) [ ] Employee Benefit Plan, Pension Fund which is
subject to the provisions of the Employee
Retirement Income Security Act of 1974 or Endowment
Fund; see Rule 13d-1(b)(1)(ii)(F) of the Act.
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(g) [ ] Parent Holding Company, in accordance with Rule
13d-1(b)(ii)(G) of the Act.
(h) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(H)
of the Act.
Item 4. Ownership.
(a) Amount Beneficially Owned: Each of the Reporting Persons may be
deemed to own beneficially 3,836,711 shares of Common Stock at
August 31, 1998. BPAM owns of record 3,836,711 shares of Common
Stock. As sole general partner of BPAM, Boston Partners may be
deemed to own beneficially all of the shares of Common Stock that
BPAM may be deemed to own beneficially. As principal stockholder
of Boston Partners, Mr. Heathwood may be deemed to own
beneficially all of the Common Stock that Boston Partners may be
deemed to own beneficially. Therefore, each of the Reporting
Persons may be deemed to own beneficially 3,836,711 shares of
Common Stock of the Issuer.
(b) Percent of Class: 10.18% for all Reporting Persons. The foregoing
percentage is calculated based on the 37,688,238 shares of Common
Stock outstanding on August 1, 1998 upon inquiry to the Investor
Relations Department on September 2, 1998.
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: 0 shares for all
Reporting Persons.
(ii) shared power to vote or to direct the vote: 3,836,711
shares for all Reporting Persons.
(iii) sole power to dispose or to direct the disposition of:
0 shares for all Reporting Persons.
(iv) shared power to dispose or to direct the disposition of:
3,836,711 shares for all Reporting Persons.
Pursuant to Rule 13d-4, each of Boston Partners and Mr. Heathwood
expressly disclaims beneficial ownership of any shares of Common
Stock of the Issuer.
Item 5. Ownership of Five Percent or Less of a Class.
Not applicable.
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Item 6. Ownership of More than Five Percent on Behalf of Another Person.
BPAM holds all of the above 3,836,711 shares under management for
its clients, who have the right to direct the receipt of
dividends, to receive dividends from such shares and to receive
the proceeds from the sale of such shares. None of these clients
holds more than five percent of the Common Stock of the Issuer.
Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on by the Parent Holding Company.
Not applicable.
Item 8. Identification and Classification of Members of the Group.
Not applicable. BPAM, Boston Partners and Mr. Heathwood expressly
disclaim membership in a "group" as defined in Rule 13d-5(b)(1).
Item 9. Notice of Dissolution of Group.
Not applicable.
Item 10. Certification.
By signing below we certify that, to the best of our knowledge and
belief, the securities referred to above were acquired in the
ordinary course of business and were not acquired for the purpose
of and do not have the effect of changing or influencing the
control of the issuer of such securities and were not acquired in
connection with or as a participant in any transaction having such
purpose or effect.
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SIGNATURE
After reasonable inquiry and to the best of our knowledge and
belief, we certify that the information set forth in this statement is true,
complete and correct. We also hereby agree to file this statement jointly
pursuant to the agreement set forth as Exhibit 1 hereto.
Dated: September 10, 1998
BOSTON PARTNERS ASSET MANAGEMENT, L.P.
By: Boston Partners, Inc.,
its general partner
By: /s/ WILLIAM J. KELLY
-----------------------------------
William J. Kelly
Treasurer and Senior Vice President
BOSTON PARTNERS, INC.
By: /s/ WILLIAM J. KELLY
-----------------------------------
William J. Kelly
Treasurer and Senior Vice President
/s/ DESMOND JOHN HEATHWOOD
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Desmond John Heathwood
by: William J. Kelly
Attorney-in-Fact
<PAGE> 9
Exhibit 1
AGREEMENT
Pursuant to Rule 13d-1(f)(1) under the Securities Exchange Act of
1934, the undersigned hereby agree that only one statement containing the
information required by Schedule 13G need be filed with respect to the ownership
by each of the undersigned of shares of Common Stock of BJ's Wholesale Club,
Inc.
This Agreement may be executed in any number of counterparts, each
of which shall be deemed an original.
EXECUTED this 10th day of September, 1998.
BOSTON PARTNERS ASSET MANAGEMENT, L.P.
By: Boston Partners, Inc.
its general partner
By: /s/ WILLIAM J. KELLY
-----------------------------------
William J. Kelly
Treasurer and Senior Vice President
BOSTON PARTNERS, INC.
By: /s/ WILLIAM J. KELLY
-----------------------------------
William J. Kelly
Treasurer and Senior Vice President
/s/ DESMOND JOHN HEATHWOOD
- --------------------------
Desmond John Heathwood
by: William J. Kelly
Attorney-in-Fact
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SIGNATURE
After reasonable inquiry and to the best of our knowledge and
belief, we certify that the information set forth in this statement is true,
complete and correct. We also hereby agree to file this statement jointly
pursuant to the agreement set forth as Exhibit 1 hereto.
Dated: September 10, 1998
BOSTON PARTNERS ASSET MANAGEMENT, L.P.
By: Boston Partners, Inc.,
its general partner
By: /s/ William J. Kelly
--------------------
William J. Kelly
Treasurer and Senior Vice President
BOSTON PARTNERS, INC.
By: /s/ William J. Kelly
--------------------
William J. Kelly
Treasurer and Senior Vice President
/s/ Desmond John Heathwood
- --------------------------
Desmond John Heathwood
by: William J. Kelly
Attorney-in-Fact
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Exhibit 1
AGREEMENT
Pursuant to Rule 13d-1(f)(1) under the Securities Exchange Act of
1934, the undersigned hereby agree that only one statement containing the
information required by Schedule 13G need be filed with respect to the ownership
by each of the undersigned of shares of Common Stock of BJ's Wholesale Club,
Inc.
This Agreement may be executed in any number of counterparts, each
of which shall be deemed an original.
EXECUTED this 10th day of September, 1998.
BOSTON PARTNERS ASSET MANAGEMENT, L.P.
By: Boston Partners, Inc.
its general partner
By: /s/ William J. Kelly
--------------------
William J. Kelly
Treasurer and Senior Vice President
BOSTON PARTNERS, INC.
By: /s/ William J. Kelly
--------------------
William J. Kelly
Treasurer and Senior Vice President
/s/ Desmond John Heathwood
- --------------------------
Desmond John Heathwood
by: William J. Kelly
Attorney-in-Fact
