BJ's Wholesale to Get Benefit from Settlement Related to Credit-Card Interchange Fees
Dow Jones
Sep 09
BJ's Wholesale Club Holdings said it would receive a one-time pre-tax benefit of about $240 million as part of a settlement related to credit-card interchange fees in which the company was a plaintiff.
Credit-card interchange fees are paid by a merchant to a customer's bank every time a credit card is used to purchase goods or services.
The company said the terms of the settlement would result in the one-time benefit, net of associated legal fees.
BJ's said it expects the settlement to be reflected in its fiscal third-quarter results.
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