Although we don’t believe in timing the market or panicking over market movements, we do like to keep an eye on big changes—just in case they’re material to our investing thesis.

What: Shares of big-box wholesaler and thorn in Costco's (Nasdaq: COST) side BJ's (NYSE: BJ) leapt this morning on news that the company might be up for sale.

So what: It's not like this is the first time we've heard this rumor. Way back in November, private equity player Leonard Green offered to buy the company. A quick scroll through the Fool archives reveals that folks have been talking about BJ's "going private" since as far back as 2007. Simply put, this is not news.

Now what: What is news is that BJ's finally seems to be getting serious about the going-private option. It's officially hired Morgan Stanley to run an auction to sell itself, and that's great news for shareholders because it gives them a chance to get out of BJ's stock with some profits in their pockets and avoid fighting a losing war against faster-growing, more profitable Costco as well as big, more profitable rivals Target (NYSE: TGT) and Wal-Mart (NYSE: WMT). Simply put, BJ's isn't as good a business as its rivals today. If a bunch of savvy investors think they can take the company private, make it better, and then roll it back out in an IPO a few years from now, I say "good luck, and good riddance."

And BJ's shareholders, who, thanks to today's bump, are finally outperforming the S&P 500 over the past 52-week period, should just say "thank you … and goodbye."

Want to follow the BJ's story as it unfolds? Add it to your watchlist by clicking here.

Fool contributor Rich Smith does not own shares of, nor is he short, any company named above.  The Motley Fool has a disclosure policy.

Costco Wholesale and Wal-Mart are Motley Fool Inside Value recommendations. Costco Wholesale is a Motley Fool Stock Advisor selection. Wal-Mart is a Motley Fool Global Gains pick. The Fool owns shares of Costco Wholesale and Wal-Mart.

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