BJ's Wholesale CEO: Economic Recovery Won't Hurt Business
BJ's Wholesale Club President and CEO Laura Sen said she has "zero" concerns about losing customers as the economy recovers.
In an interview with CNBC, Sen said she expects consumers who visited the company's stores during the height of the recession in order to save money will continue to come to the wholesale club as the economy recovers.
"We feel we have a very defensive model where in good times, people will find a way to buy something really fun in addition to their regular groceries, and in tough times people may come to us who may find it less convenient, but who know they will save money with us," Sen said.
This year, BJ's plans to continue its expansion by adding seven new warehouse clubs, and relocating one store.
The company also anticipates it will increase its investment in techology. Sen did not specify how much the retailer would spend on this effort.
"We under-invested in technology so we have some catch up to do," Sen said.
- To hear the full interview, click here to watch the video.
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