BJ's Wholesale Club Inc
BJ's, whose shares rose 14 percent, said it has not made a decision to pursue any specific option and there is no timetable for the process.
Private equity firm Leonard Green & Partners may make a hostile bid for BJ's, the New York Post reported in December. In July, a fund run by Green said it had taken a 9.5 percent stake in the company.
In January, BJ's said sales at stores open at least a year rose 0.3 percent, excluding gasoline sales, hurt by snow in the Northeast and Mid-Atlantic regions, where its stores are concentrated.
Last month, BJ's, which competes with Wal-Mart Stores Inc's
The wholesale club said it will not provide updates or make further comments about the process unless a specific action is recommended by a committee of independent directors or the process is concluded.
BJ's shares were up 13.6 percent to $48.88 in premarket trading.
(Reporting by Ben Klayman; editing by John Wallace and Derek Caney)