<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 3 )*
BJ's Wholesale Club, Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $.01 par value
- --------------------------------------------------------------------------------
(Title of Class of Securities)
05584J106
- --------------------------------------------------------------------------------
(CUSIP Number)
November 30, 1999 - Amendment pursuant to Rule 13d-2(c)
- --------------------------------------------------------------------------------
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[X] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*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).
<PAGE> 2
CUSIP NO. 05548J106
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------
<S> <C> <C>
1. NAMES OF REPORTING PERSONS.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).
Boston Partners Asset Management, L.P.
- ----------------------------------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE
INSTRUCTIONS)
(a) [ ]
(b) [ ]
Not applicable
- ----------------------------------------------------------------------------------------------------------
3. SEC USE ONLY
- ----------------------------------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ----------------------------------------------------------------------------------------------------------
5. SOLE VOTING POWER
-0- shares
NUMBER OF -------------------------------------------------------------------------------
SHARES 6. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 3,059,872 shares
EACH -------------------------------------------------------------------------------
PERSON 7. SOLE DISPOSITIVE POWER
WITH:
-0- shares
-------------------------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
3,059,872 shares
- ----------------------------------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
3,059,872 shares
- ----------------------------------------------------------------------------------------------------------
10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS)
Not applicable
- ----------------------------------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
4.2%
- ----------------------------------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IA
- ----------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 3
CUSIP NO. 05548J106
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------
<S> <C> <C>
1. NAMES OF REPORTING PERSONS.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).
Boston Partners, Inc.
- ----------------------------------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) [ ]
(b) [ ]
Not applicable
- ----------------------------------------------------------------------------------------------------------
3. SEC USE ONLY
- ----------------------------------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ----------------------------------------------------------------------------------------------------------
5. SOLE VOTING POWER
NUMBER OF -0- shares
SHARES -------------------------------------------------------------------------------
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY
EACH 3,059,872 shares
REPORTING -------------------------------------------------------------------------------
PERSON 7. SOLE DISPOSITIVE POWER
WITH:
-0- shares
-------------------------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
3,059,872 shares
- ----------------------------------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
3,059,872 shares
- ----------------------------------------------------------------------------------------------------------
10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS)
Not applicable
- ----------------------------------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
4.2%
- ----------------------------------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
CO
- ----------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 4
CUSIP NO. 05548J106
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------
<S> <C> <C>
1. NAMES OF REPORTING PERSONS.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).
Desmond John Heathwood
- ----------------------------------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE
INSTRUCTIONS)
(a) [ ]
(b) [ ]
Not applicable
- ----------------------------------------------------------------------------------------------------------
3. SEC USE ONLY
- ----------------------------------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ----------------------------------------------------------------------------------------------------------
5. SOLE VOTING POWER
-0- shares
NUMBER OF -------------------------------------------------------------------------------
SHARES 6. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 3,059,872 shares
EACH -------------------------------------------------------------------------------
PERSON 7. SOLE DISPOSITIVE POWER
WITH:
-0- shares
-------------------------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
3,059,872 shares
- ----------------------------------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
3,059,872 shares
- ----------------------------------------------------------------------------------------------------------
10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS)
Not applicable
- ----------------------------------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
4.2%
- ----------------------------------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN
- ----------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 5
Item 1. (a) Name of Issuer:
BJ's Wholesale Club, Inc. (the "Issuer")
(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 herewith as the
"Reporting Persons."
(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 28 State Street, 20th
Floor, Boston, MA 02109.
(c) Citizenship:
BPAM is a Delaware limited partnership. Boston Partners is
a Delaware corporation. Mr. Heathwood is a United States
citizen.
(d) Title of Class of Securities:
Common Stock , $.01 par value ("Common Stock").
(e) CUSIP Number: 05548J106
Item 3. If this statement is filed pursuant to Sections 240.13d-1(b) or
240.13d-2(b) or (c), check whether the person filing is a:
(a) [ ] Broker or dealer registered under section 15 of
the Act (15 U.S.C. 78o).
(b) [ ] Bank as defined in section 3(a)(6) of the Act
(15 U.S.C. 78c).
(c) [ ] Insurance company as defined in section 3(a)(19)
of the Act (15 U.S.C.78c).
(d) [ ] Investment company registered under section 8 of
the Investment Company Act of 1940 (15 U.S.C.
80a-8).
(e) [X] An investment adviser in accordance with Section
240.13d-1(b)(1)(ii)(E).
(f) [ ] An employee benefit plan or endowment fund in
accordance with Section 240.13d-1(b)(1)(ii)(F).
(g) [ ] A parent holding company or control person in
accordance with Section 240.13d-1(b)(1)(ii)(G).
(h) [ ] A savings association as defined in section 3(b)
of the Federal Deposit Insurance Act (12 U.S.C.
1813).
(i) [ ] A church plan that is excluded from the
definition of an investment company under
section 3(c)(14) of the Investment Company Act
of 1940 (15 U.S.C. 80a-3).
(j) [ ] Group, in accordance with Section 240.13d-1(b)
(1)(ii)(J).
Item 4. Ownership. Provide the following information regarding the
aggregate number and percentage of the class of securities of the issuer
identified in Item 1.
(a) Amount beneficially owned: Each of the Reporting Persons
may be deemed to own beneficially 3,059,872 shares of
Common Stock at November 30, 1999.
<PAGE> 6
BPAM owns of record 3,059,872 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
3,059,872 shares of Common Stock of the Issuer.
(b) Percentage of class: 4.2% for all Reporting Persons.
(c) Number of shares as to which the 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:
3,059,872 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: 3,059,872 shares for all
Reporting Persons.
Instruction. For computations regarding securities which
represent a right to acquire an underlying security see
Section 240.13d-3(d)(1).
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.
If this statement is being filed to report the fact that as
of the date hereof the reporting person has ceased to be the
beneficial owner of more than five percent of the class of
securities, check the following [X].
Instruction: Dissolution of a group requires a response to
this item.
Item 6. Ownership of More than Five Percent on Behalf of Another
Person.
If any other person is known to have the right to receive or
the power to direct the receipt of dividends from, or the
proceeds from the sale of, such securities, a statement to
that effect should be included in response to this item and,
if such interest relates to more than five percent of the
class, such person should be identified. A listing of the
shareholders of an investment company registered under the
Investment Company Act of 1940 or the beneficiaries of an
employee benefit plan, pension fund or endowment fund is not
required.
BPAM holds all of the above 3,059,872 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.
<PAGE> 7
Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on By the Parent
Holding Company.
If a parent holding company has filed this schedule,
pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item
3(g) and attach an exhibit stating the identity and the Item
3 classification of the relevant subsidiary. If a parent
holding company has filed this schedule pursuant to Rule
13d-1(c) or Rule 13d-1(d), attach an exhibit stating the
identification of the relevant subsidiary.
Not applicable.
Item 8. Identification and Classification of Members of the Group.
If a group has filed this schedule pursuant to Section
240.13d-1(b)(1)(ii)(J), so indicate under Item 3(j) and
attach an exhibit stating the identity and Item 3
classification of each member of the group. If a group has
filed this schedule pursuant to Section 240.13d-1(c) or
Section 240.13d-1(d), attach an exhibit stating the identity
of each member 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.
Notice of dissolution of a group may be furnished as an
exhibit stating the date of the dissolution and that all
further filings with respect to transactions in the security
reported on will be filed, if required, by members of the
group, in their individual capacity. See Item 5.
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 and are held in the ordinary course of business and
were not acquired and are not held for the purpose of or
with the effect of changing or influencing the control of
the issuer of the securities and were not acquired and are
not held in connection with or as a participant in any
transaction having that purpose or effect.
<PAGE> 8
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: December 8, 1999
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/ William J. Kelly
- ------------------------
Desmond John Heathwood
by: William J. Kelly
Treasurer and Senior Vice President*
* Signed pursuant to a Power of Attorney executed by Desmond John
Heathwood (contained as Exhibit 24.1 to Amendment No. 2 of this Schedule 13G
filed with the Securities and Exchange Commission on February 12, 1999, and
incorporated herein by reference).
<PAGE> 9
Exhibit 1
AGREEMENT
Pursuant to Rule 13d-1(k)(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 8th day of December, 1999.
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/ William J. Kelly
- ---------------------
Desmond John Heathwood
by: William J. Kelly
Treasurer and Senior Vice President*
* Signed pursuant to a Power of Attorney executed by Desmond John
Heathwood (contained as Exhibit 24.1 to Amendment No. 2 of this Schedule 13G
filed with the Securities and Exchange Commission on February 12, 1999, and
incorporated herein by reference.)
