US Market News
1月前
BJ’s Wholesale Club Holdings, Inc. Announces First Quarter Fiscal 2026 ResultsMay 22, 2026 6:45 AM
Business Wire Strong first quarter performance reflecting momentum in membership, fuel, and digital sales First Quarter Fiscal 2026 Highlights Comparable club sales increased by 6.3% year-over-year Comparable club sales, excluding gasoline sales, increased by 1.5% year-over-year Membership fee income increased by 9.9% year-over-year to $132.4 million Digitally enabled comparable sales growth was 28%, reflecting two-year stacked comp growth of 63% Earnings per diluted share and adjusted earnings per diluted share(a) of $1.10 The Company opened one new club and six new gas stations BJ’s Wholesale Club Holdings, Inc. (NYSE: BJ) (the “Company”) today announced its financial results for the thirteen weeks ended May 2, 2026. “We delivered a strong first quarter as our value proposition continued to resonate with members across our clubs and at our gas stations. Momentum in membership, fuel and digital sales reflects the disciplined execution of our teams and our focus on delivering value and convenience for the families who depend on us,” said Bob Eddy, Chairman and Chief Executive Officer, BJ’s Wholesale Club. “We remain confident in our strategy as we continue to invest in growth and expand our footprint.” Key Measures for the Thirteen Weeks Ended May 2, 2026 (First Quarter of Fiscal 2026): BJ'S WHOLESALE CLUB HOLDINGS, INC.
(Amounts in thousands, except per share amounts) Thirteen Weeks Ended % Growth (Decline) May 2, 2026 May 3, 2025 Net sales $ 5,529,145 $ 5,033,094 9.9 % Membership fee income 132,355 120,389 9.9 % Total revenues 5,661,500 5,153,483 9.9 % Operating income 207,913 203,645 2.1 % Net income 142,726 149,768 (4.7 )% EPS (b) 1.10 1.13 (2.7 )% Adjusted net income (a) 142,726 150,875 (5.4 )% Adjusted EPS (a) 1.10 1.14 (3.5 )% Adjusted EBITDA (a) 298,070 285,836 4.3 % Basic weighted-average shares outstanding 128,650 131,569 Diluted weighted-average shares outstanding 129,383 132,749 (a) See “Note Regarding Non-GAAP Financial Information.”
(b) EPS represents net income per diluted share. Additional Highlights: Total comparable club sales increased by 6.3% in the first quarter of fiscal 2026 compared to the first quarter of fiscal 2025. Excluding the impact of gasoline sales, comparable club sales increased by 1.5% in the first quarter of fiscal 2026 compared to the first quarter of fiscal 2025. Membership fee income increased to $132.4 million in the first quarter of fiscal 2026 compared to $120.4 million in the first quarter of fiscal 2025. The increase was primarily driven by strength in membership acquisition, retention and higher-tier membership penetration across both new and existing clubs. Gross profit increased to $1.03 billion in the first quarter of fiscal 2026 compared to $969.5 million in the first quarter of fiscal 2025. Merchandise gross margin rate, which excludes gasoline sales and membership fee income, decreased by approximately 10 basis points compared to the first quarter of fiscal 2025, primarily driven by the Company’s continued investments in pricing partially offset by tariff refund benefits recognized in the quarter. Selling, general and administrative expenses (“SG&A”) increased to $806.0 million in the first quarter of fiscal 2026 compared to $760.9 million in the first quarter of fiscal 2025. The increase was primarily driven by increased labor, occupancy, and operational costs mainly as a result of new club and gas station openings. Additionally, an increase in the number of owned clubs has resulted in increased depreciation expense year-over-year. Income tax expense increased to $52.8 million in the first quarter of fiscal 2026 compared to $42.8 million in the first quarter of fiscal 2025, primarily driven by an increase in income before income taxes and lower tax benefits from stock-based compensation. Net income decreased to $142.7 million in the first quarter of fiscal 2026 compared to $149.8 million in the first quarter of fiscal 2025. Adjusted EBITDA increased by 4.3% to $298.1 million in the first quarter of fiscal 2026 compared to $285.8 million in the first quarter of fiscal 2025. Under its existing share repurchase program, the Company repurchased 2,114,000 shares of common stock, totaling $206.6 million, inclusive of associated costs, in the first quarter of fiscal 2026. Approximately $545.0 million remained available to purchase under such program. Fiscal 2026 Ending January 30, 2027 Outlook “Our first quarter performance reflects disciplined execution and continued investment in the business. We delivered solid profitability while growing membership fee income and maintaining our focus on cost management,” said Laura Felice, Executive Vice President, Chief Financial Officer, BJ’s Wholesale Club. “As we look ahead, our guidance for fiscal 2026 is unchanged, and we remain confident in our ability to invest for long-term growth and deliver sustainable, profitable results.” On March 5, 2026, the Company provided the following guidance for fiscal 2026: Comparable club sales, excluding the impact of gasoline sales, to increase 2.0% to 3.0% year-over-year Adjusted EPS to range from $4.40 to $4.60 Capital expenditures of approximately $800 million, reflecting continued investment in new club openings and enhancements across our distribution network, including the ambient distribution center Conference Call Details A conference call to discuss the first quarter of fiscal 2026 financial results is scheduled for today, May 22, 2026, at 8:30 A.M. Eastern Time. The live audio webcast of the call can be accessed under the “Events & Presentations” section of the Company’s investor relations website at https://investors.bjs.com and will remain available for one year. Participants may also dial (833) 461-5787 within the U.S. or +1 (585) 542-9983 outside the U.S. and reference conference ID 358568726. About BJ’s Wholesale Club Holdings, Inc. BJ’s Wholesale Club Holdings, Inc. (NYSE: BJ) is a leading operator of membership warehouse clubs focused on delivering significant value to its members and serving a shared purpose: “We take care of the families who depend on us.” The Company provides a wide assortment of fresh foods, produce, a full-service deli, fresh bakery, household essentials and gas. In addition, BJ’s offers the latest technology, home decor, apparel, seasonal items and more to deliver unbeatable value to smart-saving families. Headquartered in Marlborough, Massachusetts, the Company pioneered the warehouse club model in New England in 1984 and currently operates 267 clubs and 205 BJ's Gas® locations in 22 states. For more information, please visit us at www.bjs.com. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding our future results of operations and financial position; our anticipated fiscal 2026 outlook; the timing and amounts of any share repurchases under our current authorized share repurchase program; and our strategic priorities and future progress, as well as statements that include the words “may,” “might,” “will,” “should,” “expect,” “plan,” “anticipate,” “can,” “could,” “intend,” “confident,” “project,” “believe,” “estimate,” “predict,” “continue,” “forecast,” “would,” or the negative of these terms or other similar expressions of a future or forward-looking nature. These forward-looking statements are based on management’s current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: uncertainties in the financial markets, including, without limitation, as a result of disruptions and instability in the banking and financial services industries or as a result of wars and global political conflicts, consumer and small business spending patterns and debt levels; our dependence on having a large and loyal membership; domestic and international economic conditions, including volatility in inflation or interest rates, supply chain disruptions, construction delays and exchange rates; our ability to procure the merchandise we sell at the best possible prices; the effects of competition and regulation; our dependence on vendors to supply us with quality merchandise at the right time and at the right price; breaches of security or privacy of member or business information; conditions affecting the acquisition, development, ownership or use of real estate; our capital spending; actions of vendors; our ability to attract and retain a qualified management team and other team members; costs associated with employees (generally including health care costs), energy and certain commodities, geopolitical conditions (including tariffs); changes in our product mix or in our revenues from gasoline sales; our failure to successfully maintain a relevant digital experience for our members; risks related to our growth strategy to open new clubs; risks related to our e-commerce business; our ability to grow our BJ’s One Mastercard® program; and other important factors discussed under the caption “Risk Factors” in our Form 10-K filed with the U.S. Securities and Exchange Commission (“SEC”) on March 12, 2026, and subsequent filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, unless required by law, we disclaim any obligation to do so, even if subsequent events cause our views to change. Thus, one should not assume that our silence over time means that actual events are bearing out as expressed or implied in such forward-looking statements. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release. Non-GAAP Financial Measures We refer to certain financial measures that are not recognized under United States generally accepted accounting principles (“GAAP”). Please see “Note Regarding Non-GAAP Financial Information” and “Reconciliation of GAAP to Non-GAAP Financial Information” below for additional information and a reconciliation of the Non-GAAP financial measures to the most comparable GAAP financial measures. BJ'S WHOLESALE CLUB HOLDINGS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts in thousands, except per share amounts)
(Unaudited) Thirteen Weeks Ended May 2, 2026 May 3, 2025 Net sales $ 5,529,145 $ 5,033,094 Membership fee income 132,355 120,389 Total revenues 5,661,500 5,153,483 Cost of sales 4,633,599 4,183,984 Selling, general and administrative expenses 806,010 760,880 Pre-opening expenses 13,978 4,974 Operating income 207,913 203,645 Interest expense, net 12,367 11,099 Income before income taxes 195,546 192,546 Provision for income taxes 52,820 42,778 Net income $ 142,726 $ 149,768 Income per share attributable to common stockholders—basic: $ 1.11 $ 1.14 Income per share attributable to common stockholders—diluted: $ 1.10 $ 1.13 Weighted-average number of shares outstanding: Basic 128,650 131,569 Diluted 129,383 132,749 BJ'S WHOLESALE CLUB HOLDINGS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Amounts in thousands, except per share amounts)
(Unaudited) May 2, 2026 May 3, 2025 ASSETS Current assets: Cash and cash equivalents $ 27,826 $ 39,484 Accounts receivable, net 319,936 240,419 Merchandise inventories 1,668,263 1,567,032 Prepaid expense and other current assets 198,876 81,833 Total current assets 2,214,901 1,928,768 Operating lease right-of-use assets, net 2,004,451 2,065,890 Property and equipment, net 2,534,420 1,988,290 Goodwill 1,008,816 1,008,816 Intangibles, net 94,239 99,697 Deferred income taxes 4,593 7,615 Other assets 67,578 58,596 Total assets $ 7,928,998 $ 7,157,672 LIABILITIES Current liabilities: Short-term debt $ 375,000 $ 150,000 Current portion of operating lease liabilities 181,994 169,568 Accounts payable 1,438,931 1,255,867 Accrued expenses and other current liabilities 1,048,934 934,974 Total current liabilities 3,044,859 2,510,409 Long-term operating lease liabilities 1,905,325 1,977,180 Long-term debt 399,172 398,880 Deferred income taxes 68,228 55,386 Other non-current liabilities 385,155 244,232 STOCKHOLDERS' EQUITY 2,126,259 1,971,585 Total liabilities and stockholders' equity $ 7,928,998 $ 7,157,672 BJ'S WHOLESALE CLUB HOLDINGS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Amounts in thousands, except per share amounts)
(Unaudited) Thirteen Weeks Ended May 2, 2026 May 3, 2025 CASH FLOWS FROM OPERATING ACTIVITIES Net income $ 142,726 $ 149,768 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 76,452 69,665 Amortization of debt issuance costs and accretion of original issue discount 273 273 Stock-based compensation expense 13,280 10,654 Deferred income tax provision (benefit) 3,173 (4,913 ) Changes in operating leases and other non-cash items (30,631 ) (24,397 ) Increase (decrease) in cash due to changes in: Accounts receivable, net (51,300 ) 39,735 Merchandise inventories (112,792 ) (58,044 ) Accounts payable 131,526 2,355 Accrued expenses and other current liabilities 24,446 24,783 Other operating assets and liabilities, net (57,195 ) (1,786 ) Net cash provided by operating activities 139,958 208,093 CASH FLOWS FROM INVESTING ACTIVITIES Additions to property and equipment, net of disposals and proceeds from sale-leaseback transactions (182,004 ) (140,497 ) Other investing activities (2,630 ) (1,794 ) Net cash used in investing activities (184,634 ) (142,291 ) CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from revolving lines of credit 320,000 66,000 Payments on revolving lines of credit (65,000 ) (91,000 ) Net cash received from stock option exercises 125 5,014 Acquisition of treasury stock (225,717 ) (41,305 ) Net (payments on) proceeds from financing obligations (73 ) 8,721 Other financing activities (3,078 ) (2,020 ) Net cash provided by (used in) financing activities 26,257 (54,590 ) Net (decrease) increase in cash and cash equivalents (18,419 ) 11,212 Cash and cash equivalents at beginning of period 46,245 28,272 Cash and cash equivalents at end of period $ 27,826 $ 39,484 Note Regarding Non-GAAP Financial Information This press release includes financial measures that are not calculated in accordance with GAAP, including adjusted net income, adjusted net income per diluted share (“adjusted EPS”), adjusted EBITDA, adjusted free cash flow, net debt, net debt to last twelve months (“LTM”) adjusted EBITDA, and comparable club sales. We define adjusted net income as net income as reported, adjusted for non-recurring, infrequent, or unusual changes, including restructuring charges, and other adjustments that the Company believes appropriate, net of the tax impact of such adjustments. We define adjusted EPS as adjusted net income divided by the weighted-average diluted shares outstanding. We define adjusted EBITDA as net income before interest expense, net, provision for income taxes, and depreciation and amortization, adjusted for the impact of certain other items, including stock-based compensation expense, restructuring, and other adjustments. We define adjusted free cash flow as net cash provided by operating activities less additions to property and equipment, net of disposals, plus proceeds from sale-leaseback transactions. We define net debt as total debt outstanding less cash and cash equivalents. We define net debt to LTM adjusted EBITDA as net debt at the balance sheet date divided by adjusted EBITDA for the trailing twelve-month period. We present adjusted net income, adjusted EPS, and adjusted EBITDA, which are not recognized financial measures under GAAP, because we believe such measures assist investors and analysts in comparing our operating performance across reporting periods on a consistent basis by excluding items that we do not believe are indicative of our core operating performance. We believe that adjusted net income, adjusted EPS, and adjusted EBITDA are helpful in highlighting trends in our core operating performance compared to other measures, which can differ significantly depending on long-term strategic decisions regarding capital structure, the tax jurisdictions in which companies operate, and capital investments. We use adjusted net income, adjusted EPS, and adjusted EBITDA to supplement GAAP measures of performance in the evaluation of the effectiveness of our business strategies; to make budgeting decisions; and to compare our performance against that of other peer companies using similar measures. We also use adjusted EBITDA and adjusted EPS in connection with establishing annual and long-term incentive compensation. We present adjusted free cash flow, which is not a recognized financial measure under GAAP, because we use it to report to our Board of Directors and we believe it assists investors and analysts in evaluating our liquidity. Adjusted free cash flow should not be considered as an alternative to cash flows from operations as a liquidity measure. We present net debt and net debt to LTM adjusted EBITDA, which are not recognized as financial measures under GAAP, because we use them to report to our Board of Directors and we believe they assist investors and analysts in evaluating our borrowing capacity. Net debt to LTM adjusted EBITDA is a key financial measure that is used by management to assess the borrowing capacity of the Company. You are encouraged to evaluate these adjustments and the reasons we consider them appropriate for supplemental analysis. In evaluating adjusted net income, adjusted EPS, adjusted EBITDA, and net debt to LTM adjusted EBITDA, you should be aware that in the future we may incur expenses that are the same as or like some of the adjustments in our presentation of these metrics. Our presentation of adjusted net income, adjusted EPS, adjusted EBITDA, adjusted free cash flow, net debt, and net debt to LTM adjusted EBITDA should not be considered as alternatives to any other measure derived in accordance with GAAP and they should not be construed as an inference that the Company’s future results will be unaffected by unusual or non-recurring items. There can be no assurance that we will not modify the presentation of adjusted net income, adjusted EPS, adjusted EBITDA, or net debt to LTM adjusted EBITDA in the future, and any such modification may be material. In addition, adjusted net income, adjusted EPS, adjusted EBITDA, adjusted free cash flow, net debt, and net debt to LTM adjusted EBITDA may not be comparable to similarly titled measures used by other companies in our industry or across different industries. Additionally, adjusted net income, adjusted EPS, adjusted EBITDA, adjusted free cash flow, net debt, and net debt to LTM adjusted EBITDA have limitations as analytical tools, and you should not consider them in isolation or as a substitute for analysis of our results as reported under GAAP. In reliance on the unreasonable efforts exception provided under Item 10(e)(1)(i)(B) of Regulation S-K, the Company does not provide a reconciliation for non-GAAP estimates on a forward-looking basis, including of its projected range for adjusted EPS for Fiscal 2026 to net income per diluted share, which is the most directly comparable GAAP measure, under “Fiscal 2026 Ending January 30, 2027” above, where it is unable to provide a meaningful or accurate calculation or estimation of reconciling items or there are no meaningful adjustments to be presented in the reconciliation and the information is not available without unreasonable effort. This is due to the inherent difficulty of forecasting the timing and/or amount of various items that would impact net income per diluted share, if any. This includes items that have not yet occurred, are out of the Company's control, cannot be reasonably predicted and/or for which there would not be any meaningful adjustment or difference. For the same reasons, the Company is unable to address the probable significance of the unavailable information. The information under “Fiscal 2026 Ending January 30, 2027” above, including expectations about adjusted EPS reflects management’s view of current and future market conditions. To the extent actual results differ from our current expectations, the Company’s results may differ materially from the expectations set forth above. Other factors, as referenced elsewhere in this press release, may also cause the Company’s results to differ materially from the expectations set forth above. Reconciliation of GAAP to Non-GAAP Financial Information BJ'S WHOLESALE CLUB HOLDINGS, INC.
Reconciliation of net income to adjusted net income and adjusted EPS
(Amounts in thousands, except per share amounts)
(Unaudited) Thirteen Weeks Ended May 2, 2026 May 3, 2025 Net income as reported $ 142,726 $ 149,768 Adjustments: Restructuring (a) — 1,537 Tax impact of adjustments to net income (b) — (430 ) Adjusted net income $ 142,726 $ 150,875 Weighted-average diluted shares outstanding 129,383 132,749 Adjusted EPS (c) $ 1.10 $ 1.14 (a) Represents charges related to the restructuring of certain corporate and club functions, including costs for severance, retention, outplacement, consulting fees, and other third-party fees.
(b) Represents the tax effect of the above adjustments at a statutory tax rate of approximately 28%.
(c) Adjusted EPS is measured using weighted-average diluted shares outstanding. BJ'S WHOLESALE CLUB HOLDINGS, INC.
Reconciliation to adjusted EBITDA
(Amounts in thousands)
(Unaudited) Thirteen Weeks Ended May 2, 2026 May 3, 2025 Net income $ 142,726 $ 149,768 Interest expense, net 12,367 11,099 Provision for income taxes 52,820 42,778 Depreciation and amortization 76,452 69,665 Stock-based compensation expense 13,280 10,654 Restructuring (a) — 1,537 Other adjustments (b) 425 335 Adjusted EBITDA $ 298,070 $ 285,836 (a) Represents charges related to the restructuring of certain corporate and club functions, including costs for severance, retention, outplacement, consulting fees, and other third-party fees.
(b) Other non-cash items, including non-cash accretion on asset retirement obligations and obligations associated with our post-retirement medical plan. BJ'S WHOLESALE CLUB HOLDINGS, INC.
Reconciliation to adjusted free cash flow
(Amounts in thousands)
(Unaudited) Thirteen Weeks Ended May 2, 2026 May 3, 2025 Net cash provided by operating activities $ 139,958 $ 208,093 Less: Additions to property and equipment, net of disposals (182,004 ) (140,497 ) Plus: Proceeds from sale-leaseback transactions — — Adjusted free cash flow $ (42,046 ) $ 67,596 BJ'S WHOLESALE CLUB HOLDINGS, INC.
Reconciliation of net debt and net debt to LTM adjusted EBITDA
(Amounts in thousands)
(Unaudited) May 2, 2026 Total debt $ 774,172 Less: Cash and cash equivalents (27,826 ) Net debt $ 746,346 Net income $ 571,335 Interest expense, net 43,661 Provision for income taxes 205,876 Depreciation and amortization 295,381 Stock-based compensation expense 49,826 Restructuring 2,538 Other adjustments 1,196 Adjusted EBITDA (a) $ 1,169,813 Net debt to LTM adjusted EBITDA 0.6x (a) See descriptions of adjustments in the “Reconciliation to Adjusted EBITDA (unaudited)” table above. Financial_News View source version on businesswire.com: https://www.businesswire.com/news/home/20260522380094/en/ Investor Contact:
Diana Rashkow
Vice President, Investor Relations
US Market News
4月前
BJ’s Wholesale Club Holdings, Inc. Announces Fourth Quarter and Full Fiscal 2025 ResultsMarch 5, 2026 6:45 AM
Business Wire
Strong fourth quarter and record year driven by growth in membership, digital sales and traffic
Fourth Quarter of Fiscal 2025 Highlights
Comparable club sales increased by 1.6% year-over-year
Comparable club sales, excluding gasoline sales, increased by 2.6% year-over-year
Membership fee income increased by 10.9% year-over-year to $129.8 million
The Company continued to achieve a 90% tenured member renewal rate during fiscal 2025
Digitally enabled comparable sales growth was 31%, reflecting two-year stacked comp growth of 57%
Earnings per diluted share and adjusted earnings per diluted share(a) of $0.96
The Company opened 7 new clubs and 7 new gas stations
BJ’s Wholesale Club Holdings, Inc. (NYSE: BJ) (the “Company”) today announced its financial results for the thirteen and fifty-two weeks ended January 31, 2026.
“As we reflect on the year, our results demonstrate the strength of our transformation and disciplined execution of our long-term priorities. Record membership, strong digital engagement, and our 16th consecutive quarter of traffic growth show how effectively our teams are delivering value and convenience to our members,” said Bob Eddy, Chairman and Chief Executive Officer, BJ’s Wholesale Club. “Our focus on enhancing our assortment, investing in value, and expanding our footprint continues to resonate, and I’m proud of the progress we made this year.”
Key Measures for the Thirteen Weeks Ended January 31, 2026 (Fourth Quarter of Fiscal 2025) and for the Fifty-Two Weeks Ended January 31, 2026 (Fiscal 2025):
BJ’S WHOLESALE CLUB HOLDINGS, INC.
(Amounts in thousands, except per share amounts)
Thirteen Weeks Ended
%
Growth (Decline)
Fifty-two Weeks Ended
%
Growth
January 31, 2026
February 1, 2025
January 31, 2026
February 1, 2025
Net sales
$
5,445,635
$
5,161,536
5.5
%
$
20,957,502
$
20,045,329
4.6
%
Membership fee income
129,753
116,990
10.9
%
499,772
456,475
9.5
%
Total revenues
5,575,388
5,278,526
5.6
%
21,457,274
20,501,804
4.7
%
Operating income
178,078
178,393
(0.2
)%
816,604
772,206
5.7
%
Net income
125,854
122,662
2.6
%
578,377
534,417
8.2
%
EPS (b)
0.96
0.92
4.3
%
4.38
4.00
9.5
%
Adjusted net income (a)
125,854
124,117
1.4
%
581,311
541,111
7.4
%
Adjusted EPS (a)
0.96
0.93
3.2
%
4.40
4.05
8.6
%
Adjusted EBITDA (a)
266,497
264,568
0.7
%
1,157,579
1,090,595
6.1
%
Basic weighted-average shares outstanding
130,213
131,690
131,193
132,150
Diluted weighted-average shares outstanding
131,075
133,128
132,066
133,605
(a)
See “Note Regarding Non-GAAP Financial Information.”
(b)
EPS represents net income per diluted share.
Additional Highlights:
Total comparable club sales increased by 1.6% and 1.0% in the fourth quarter and fiscal 2025, respectively, compared to the same periods in fiscal 2024. Excluding the impact of gasoline sales, comparable club sales increased by 2.6% in each of the fourth quarter and fiscal 2025, respectively, compared to the same periods in fiscal 2024.
Membership fee income increased to $129.8 million in the fourth quarter of fiscal 2025 from $117.0 million in the fourth quarter of fiscal 2024. Membership fee income increased to $499.8 million in fiscal 2025 compared to $456.5 million in fiscal 2024. The increase in both comparative periods was primarily driven by strength in membership acquisition, retention, and higher tier membership penetration across both new and existing clubs, as well as the increase in annual membership fees, which became effective in January 2025.
Gross profit increased to $1.01 billion in the fourth quarter of fiscal 2025 from $949.0 million in the fourth quarter of fiscal 2024. Merchandise gross margin rate, which excludes gasoline sales and membership fee income, decreased by approximately 50 basis points compared to the fourth quarter of fiscal 2024, driven by changes in merchandise mix. Gross profit increased to $4.00 billion in fiscal 2025 from $3.76 billion in fiscal 2024. Merchandise gross margin rate remained flat compared to fiscal 2024. The Company continues to manage the business to drive profitable growth across the broader merchandise assortment.
Selling, general and administrative expenses (“SG&A”) increased to $818.2 million in the fourth quarter of fiscal 2025 compared to $758.2 million in the fourth quarter of fiscal 2024. SG&A increased to $3.15 billion in fiscal 2025 compared to $2.96 billion in fiscal 2024. The increase in both comparative periods was primarily driven by increased labor, occupancy, and operational costs mainly as a result of new club and gas station openings. Additionally, an increase in the number of owned clubs has resulted in increased depreciation expense year-over-year. During fiscal 2024, the Company benefitted from the net impact of legal settlements reached of approximately $20 million, which contributed to the increase in SG&A expenses year-over-year.
Income tax expense decreased to $41.6 million in the fourth quarter of fiscal 2025 compared to $43.7 million in the fourth quarter of fiscal 2024, primarily driven by a gain recognized on transferable tax credits, partially offset by lower tax benefits from stock-based compensation. Income tax expense increased to $195.8 million in fiscal 2025 compared to $186.4 million in fiscal 2024, primarily driven by an increase in income before income taxes and lower tax benefits from stock-based compensation, partially offset by gains recognized on transferable tax credits.
Net income increased to $125.9 million in the fourth quarter of fiscal 2025 compared to $122.7 million in the fourth quarter of fiscal 2024. Net income increased to $578.4 million in fiscal 2025 compared to $534.4 million in fiscal 2024.
Adjusted EBITDA increased by 0.7% to $266.5 million in the fourth quarter of fiscal 2025 compared to $264.6 million in the fourth quarter of fiscal 2024. Adjusted EBITDA increased by 6.1% to $1.16 billion in fiscal 2025 compared to $1.09 billion in fiscal 2024.
Under its existing share repurchase program, the Company repurchased 1,264,000 shares of common stock, totaling $117.7 million, inclusive of associated costs, in the fourth quarter of fiscal 2025. In fiscal 2025, the Company repurchased 2,599,000 shares of common stock, totaling $252.4 million, inclusive of associated costs, under such program, and $749.7 million remained available to purchase.
Fiscal 2026 Ending January 30, 2027 Outlook
“Our results this year demonstrate the strength of our model and disciplined execution across the business. We continued to grow membership fee income, manage costs effectively, and invest in value for our members,” said Laura Felice, Executive Vice President, Chief Financial Officer, BJ’s Wholesale Club. “As we enter fiscal 2026, we remain confident in our long-term strategy and our ability to navigate the environment while driving sustainable, profitable growth.”
The Company provided the following guidance for fiscal 2026:
Comparable club sales, excluding the impact of gasoline sales, to increase 2.0% to 3.0% year-over-year
Adjusted EPS to range from $4.40 to $4.60
Capital expenditures of approximately $800 million, reflecting continued investment in new club openings and enhancements across our distribution network, including the ambient distribution center
Conference Call Details
A conference call to discuss the Company’s fourth quarter and fiscal 2025 financial results is scheduled for today, March 5, 2026, at 8:30 A.M. Eastern Time. The live audio webcast of the call can be accessed under the “Events and Presentations” section of the Company’s investor relations website at https://investors.bjs.com and will remain available for one year. Participants may also dial (833) 470-1428 within the U.S. or +1 (929) 526-1599 outside the U.S. and reference conference ID 006082.
About BJ’s Wholesale Club Holdings, Inc.
BJ’s Wholesale Club Holdings, Inc. (NYSE: BJ) is a leading operator of membership warehouse clubs focused on delivering significant value to its members and serving a shared purpose: “We take care of the families who depend on us.” The Company provides a wide assortment of fresh foods, produce, a full-service deli, fresh bakery, household essentials and gas. In addition, BJ’s offers the latest technology, home decor, apparel, seasonal items and more to deliver unbeatable value to smart-saving families. Headquartered in Marlborough, Massachusetts, the Company pioneered the warehouse club model in New England in 1984 and currently operates 263 clubs and 199 BJ’s Gas® locations in 21 states. For more information, please visit us at www.bjs.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding our future results of operations and financial position; our anticipated fiscal 2026 outlook; the timing and amounts of any share repurchases under our current authorized share repurchase program; and our strategic priorities and future progress, as well as statements that include the words “expect,” “intend,” “plan,” “confident,” “believe,” “project,” “forecast,” “estimate,” “may,” “should,” “anticipate,” “can” and similar statements of a future or forward-looking nature. These forward-looking statements are based on management’s current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: uncertainties in the financial markets, including, without limitation, as a result of disruptions and instability in the banking and financial services industries or as a result of wars and global political conflicts, consumer and small business spending patterns and debt levels; our dependence on having a large and loyal membership; domestic and international economic conditions, including volatility in inflation or interest rates, supply chain disruptions, construction delays and exchange rates; our ability to procure the merchandise we sell at the best possible prices; the effects of competition and regulation; our dependence on vendors to supply us with quality merchandise at the right time and at the right price; breaches of security or privacy of member or business information; conditions affecting the acquisition, development, ownership or use of real estate; our capital spending; actions of vendors; our ability to attract and retain a qualified management team and other team members; costs associated with employees (generally including health care costs), energy and certain commodities, geopolitical conditions (including tariffs); changes in our product mix or in our revenues from gasoline sales; our failure to successfully maintain a relevant digital experience for our members; risks related to our growth strategy to open new clubs; risks related to our e-commerce business; our ability to grow our BJ’s One Mastercard® program; and other important factors discussed under the caption “Risk Factors” in our Form 10-K filed with the U.S. Securities and Exchange Commission (“SEC”) on March 14, 2025, and subsequent filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, unless required by law, we disclaim any obligation to do so, even if subsequent events cause our views to change. Thus, one should not assume that our silence over time means that actual events are bearing out as expressed or implied in such forward-looking statements. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.
Non-GAAP Financial Measures
We refer to certain financial measures that are not recognized under United States generally accepted accounting principles (“GAAP”). Please see “Note Regarding Non-GAAP Financial Information” and “Reconciliation of GAAP to Non-GAAP Financial Information” below for additional information and a reconciliation of the Non-GAAP financial measures to the most comparable GAAP financial measures.
BJ’S WHOLESALE CLUB HOLDINGS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts in thousands, except per share amounts)
(Unaudited)
Thirteen Weeks Ended
Fifty-two Weeks Ended
January 31, 2026
February 1, 2025
January 31, 2026
February 1, 2025
Net sales
$
5,445,635
$
5,161,536
$
20,957,502
$
20,045,329
Membership fee income
129,753
116,990
499,772
456,475
Total revenues
5,575,388
5,278,526
21,457,274
20,501,804
Cost of sales
4,565,777
4,329,542
17,457,652
16,737,378
Selling, general and administrative expenses
818,188
758,209
3,153,577
2,963,883
Pre-opening expenses
13,345
12,382
29,441
28,337
Operating income
178,078
178,393
816,604
772,206
Interest expense, net
10,592
12,060
42,393
51,359
Income before income taxes
167,486
166,333
774,211
720,847
Provision for income taxes
41,632
43,671
195,834
186,430
Net income
$
125,854
$
122,662
$
578,377
$
534,417
Income per share attributable to common stockholders—basic:
$
0.97
$
0.93
$
4.41
$
4.04
Income per share attributable to common stockholders—diluted:
$
0.96
$
0.92
$
4.38
$
4.00
Weighted-average number of shares outstanding:
Basic
130,213
131,690
131,193
132,150
Diluted
131,075
133,128
132,066
133,605
BJ’S WHOLESALE CLUB HOLDINGS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Amounts in thousands, except per share amounts)
(Unaudited)
January 31, 2026
February 1, 2025
ASSETS
Current assets:
Cash and cash equivalents
$
46,245
$
28,272
Accounts receivable, net
252,789
277,326
Merchandise inventories
1,555,471
1,508,988
Prepaid expense and other current assets
135,584
64,374
Total current assets
1,990,089
1,878,960
Operating lease right-of-use assets, net
1,976,013
2,100,257
Property and equipment, net
2,364,552
1,897,604
Goodwill
1,008,816
1,008,816
Intangibles, net
95,462
101,109
Deferred income taxes
4,427
6,975
Other assets
71,116
71,584
Total assets
$
7,510,475
$
7,065,305
LIABILITIES
Current liabilities:
Short-term debt
$
120,000
$
175,000
Current portion of operating lease liabilities
209,249
192,528
Accounts payable
1,307,405
1,253,512
Accrued expenses and other current liabilities
1,033,579
913,042
Total current liabilities
2,670,233
2,534,082
Long-term operating lease liabilities
1,880,383
2,013,962
Long-term debt
399,099
398,807
Deferred income taxes
64,889
59,659
Other non-current liabilities
298,212
211,341
STOCKHOLDERS' EQUITY
2,197,659
1,847,454
Total liabilities and stockholders' equity
$
7,510,475
$
7,065,305
BJ’S WHOLESALE CLUB HOLDINGS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Amounts in thousands, except per share amounts)
(Unaudited)
Fifty-two Weeks Ended
January 31, 2026
February 1, 2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net income
$
578,377
$
534,417
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
288,594
262,068
Amortization of debt issuance costs and accretion of original issue discount
1,091
1,104
Debt extinguishment and refinancing charges
—
870
Stock-based compensation expense
47,200
47,798
Deferred income tax provision (benefit)
7,839
(18,493
)
Changes in operating leases and other non-cash items
7,109
42,617
Increase (decrease) in cash due to changes in:
Accounts receivable, net
24,787
(51,629
)
Merchandise inventories
(46,483
)
(54,166
)
Accounts payable
53,893
70,231
Accrued expenses and other current liabilities
111,373
94,722
Other operating assets and liabilities, net
(43,724
)
(28,667
)
Net cash provided by operating activities
1,030,056
900,872
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to property and equipment, net of disposals and proceeds from sale-leaseback transactions
(699,053
)
(587,983
)
Other investing activities
(3,291
)
(1,583
)
Net cash used in investing activities
(702,344
)
(589,566
)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from the issuance of long-term debt
—
27,000
Payments on long-term debt
—
(27,000
)
Proceeds from revolving lines of credit
476,000
717,000
Payments on revolving lines of credit
(531,000
)
(861,000
)
Debt issuance costs paid
—
(800
)
Net cash received from stock option exercises
5,014
18,275
Net cash received from Employee Stock Purchase Program
8,656
7,002
Acquisition of treasury stock
(286,787
)
(219,632
)
Proceeds from financing obligations
27,770
27,340
Other financing activities
(9,392
)
(7,268
)
Net cash used in financing activities
(309,739
)
(319,083
)
Net increase (decrease) in cash and cash equivalents
17,973
(7,777
)
Cash and cash equivalents at beginning of period
28,272
36,049
Cash and cash equivalents at end of period
$
46,245
$
28,272
Note Regarding Non-GAAP Financial Information
This press release includes financial measures that are not calculated in accordance with GAAP, including adjusted net income, adjusted net income per diluted share (“adjusted EPS”), adjusted EBITDA, adjusted free cash flow, net debt, net debt to last twelve months (“LTM”) adjusted EBITDA, and comparable club sales.
We define adjusted net income as net income as reported, adjusted for non-recurring, infrequent, or unusual changes, including restructuring charges, and other adjustments that the Company believes appropriate, net of the tax impact of such adjustments.
We define adjusted EPS as adjusted net income divided by the weighted-average diluted shares outstanding.
We define adjusted EBITDA as net income before interest expense, net, provision for income taxes and depreciation and amortization, adjusted for the impact of certain other items, including: stock-based compensation expense; restructuring and other adjustments.
We define adjusted free cash flow as net cash provided by operating activities less additions to property and equipment, net of disposals, plus proceeds from sale-leaseback transactions.
We define net debt as total debt outstanding less cash and cash equivalents.
We define net debt to LTM adjusted EBITDA as net debt at the balance sheet date divided by adjusted EBITDA for the trailing twelve-month period.
We present adjusted net income, adjusted EPS and adjusted EBITDA, which are not recognized financial measures under GAAP, because we believe such measures assist investors and analysts in comparing our operating performance across reporting periods on a consistent basis by excluding items that we do not believe are indicative of our core operating performance.
We believe that adjusted net income, adjusted EPS and adjusted EBITDA are helpful in highlighting trends in our core operating performance compared to other measures, which can differ significantly depending on long-term strategic decisions regarding capital structure, the tax jurisdictions in which companies operate and capital investments. We use adjusted net income, adjusted EPS and adjusted EBITDA to supplement GAAP measures of performance in the evaluation of the effectiveness of our business strategies; to make budgeting decisions; and to compare our performance against that of other peer companies using similar measures. We also use adjusted EBITDA and adjusted EPS in connection with establishing annual and long-term incentive compensation.
We present adjusted free cash flow, which is not a recognized financial measure under GAAP, because we use it to report to our Board of Directors and we believe it assists investors and analysts in evaluating our liquidity. Adjusted free cash flow should not be considered as an alternative to cash flows from operations as a liquidity measure. We present net debt and net debt to LTM adjusted EBITDA, which are not recognized as financial measures under GAAP, because we use them to report to our Board of Directors and we believe they assist investors and analysts in evaluating our borrowing capacity. Net debt to LTM adjusted EBITDA is a key financial measure that is used by management to assess the borrowing capacity of the Company.
You are encouraged to evaluate these adjustments and the reasons we consider them appropriate for supplemental analysis. In evaluating adjusted net income, adjusted EPS, adjusted EBITDA and net debt to LTM adjusted EBITDA, you should be aware that in the future we may incur expenses that are the same as or like some of the adjustments in our presentation of these metrics. Our presentation of adjusted net income, adjusted EPS, adjusted EBITDA, adjusted free cash flow, net debt and net debt to LTM adjusted EBITDA should not be considered as alternatives to any other measure derived in accordance with GAAP and they should not be construed as an inference that the Company’s future results will be unaffected by unusual or non-recurring items. There can be no assurance that we will not modify the presentation of adjusted net income, adjusted EPS, adjusted EBITDA or net debt to LTM adjusted EBITDA in the future, and any such modification may be material. In addition, adjusted net income, adjusted EPS, adjusted EBITDA, adjusted free cash flow, net debt and net debt to LTM adjusted EBITDA may not be comparable to similarly titled measures used by other companies in our industry or across different industries. Additionally, adjusted net income, adjusted EPS, adjusted EBITDA, adjusted free cash flow, net debt and net debt to LTM adjusted EBITDA have limitations as analytical tools, and you should not consider them in isolation or as a substitute for analysis of our results as reported under GAAP.
In reliance on the unreasonable efforts exception provided under Item 10(e)(1)(i)(B) of Regulation S-K, the Company does not provide a reconciliation for non-GAAP estimates on a forward-looking basis, including of its projected range for adjusted EPS for Fiscal 2026 to net income per diluted share, which is the most directly comparable GAAP measure, under “Fiscal 2026 Ending January 30, 2027” above, where it is unable to provide a meaningful or accurate calculation or estimation of reconciling items or there are no meaningful adjustments to be presented in the reconciliation and the information is not available without unreasonable effort. This is due to the inherent difficulty of forecasting the timing and/or amount of various items that would impact net income per diluted share, if any. This includes items that have not yet occurred, are out of the Company’s control, cannot be reasonably predicted and/or for which there would not be any meaningful adjustment or difference. For the same reasons, the Company is unable to address the probable significance of the unavailable information. The information under “Fiscal 2026 Ending January 30, 2027” above, including expectations about adjusted EPS reflects management’s view of current and future market conditions. To the extent actual results differ from our current expectations, the Company’s results may differ materially from the expectations set forth above. Other factors, as referenced elsewhere in this press release, may also cause the Company’s results to differ materially from the expectations set forth above.
Reconciliation of GAAP to Non-GAAP Financial Information
BJ’S WHOLESALE CLUB HOLDINGS, INC.
Reconciliation of net income to adjusted net income and adjusted EPS
(Amounts in thousands, except per share amounts)
(Unaudited)
Thirteen Weeks Ended
Fifty-two Weeks Ended
January 31, 2026
February 1, 2025
January 31, 2026
February 1, 2025
Net income as reported
$
125,854
$
122,662
$
578,377
$
534,417
Adjustments:
Charges related to debt (a)
—
870
—
870
Restructuring (b)
—
1,151
4,075
8,427
Tax impact of adjustments to net income (c)
—
(566
)
(1,141
)
(2,603
)
Adjusted net income
$
125,854
$
124,117
$
581,311
$
541,111
Weighted-average diluted shares outstanding
131,075
133,128
132,066
133,605
Adjusted EPS (d)
$
0.96
$
0.93
$
4.40
$
4.05
(a)
Represents the expensing of fees, deferred fees, and original issue discount associated with the amendment of the senior secured first lien term loan.
(b)
Represents charges related to the restructuring of certain corporate and club functions including costs for severance, retention, outplacement, consulting fees, and other third-party fees.
(c)
Represents the tax effect of the above adjustments at a statutory tax rate of approximately 28%.
(d)
Adjusted EPS is measured using weighted-average diluted shares outstanding.
BJ’S WHOLESALE CLUB HOLDINGS, INC.
Reconciliation to adjusted EBITDA
(Amounts in thousands)
(Unaudited)
Thirteen Weeks Ended
Fifty-two Weeks Ended
January 31, 2026
February 1, 2025
January 31, 2026
February 1, 2025
Net income
$
125,854
$
122,662
$
578,377
$
534,417
Interest expense, net
10,592
12,060
42,393
51,359
Provision for income taxes
41,632
43,671
195,834
186,430
Depreciation and amortization
74,678
67,830
288,594
262,068
Stock-based compensation expense
13,614
18,158
47,200
47,798
Restructuring (a)
—
1,151
4,075
8,427
Other adjustments (b)
127
(964
)
1,106
96
Adjusted EBITDA
$
266,497
$
264,568
$
1,157,579
$
1,090,595
(a)
Represents charges related to the restructuring of certain corporate and club functions including costs for severance, retention, outplacement, consulting fees, and other third-party fees.
(b)
Other non-cash items, including non-cash accretion on asset retirement obligations and obligations associated with our post-retirement medical plan.
BJ’S WHOLESALE CLUB HOLDINGS, INC.
Reconciliation to adjusted free cash flow
(Amounts in thousands)
(Unaudited)
Thirteen Weeks Ended
Fifty-two Weeks Ended
January 31, 2026
February 1, 2025
January 31, 2026
February 1, 2025
Net cash provided by operating activities
$
390,955
$
271,917
$
1,030,056
$
900,872
Less: Additions to property and equipment, net of disposals
(201,100
)
(160,430
)
(702,048
)
(587,983
)
Plus: Proceeds from sale-leaseback transactions
—
—
2,995
—
Adjusted free cash flow
$
189,855
$
111,487
$
331,003
$
312,889
BJ’S WHOLESALE CLUB HOLDINGS, INC.
Reconciliation of net debt and net debt to LTM adjusted EBITDA
(Amounts in thousands)
(Unaudited)
January 31, 2026
Total debt
$
519,099
Less: Cash and cash equivalents
(46,245
)
Net debt
$
472,854
Adjusted EBITDA(a)
$
1,157,579
Net debt to LTM adjusted EBITDA
0.4x
(a)
See “Reconciliation to Adjusted EBITDA (unaudited)” table above.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260305612539/en/
Investor Contact:
Diana Rashkow
Vice President, Investor Relations
drashkow@bjs.com
774-512-6172
Media Contact:
Kirk Saville
Head of Corporate Communications
ksaville@bjs.com
774-512-5597
Original: BJ’s Wholesale Club Holdings, Inc. Announces Fourth Quarter and Full Fiscal 2025 Results
Hot Features
プレミアム
登録してリアルタイムのアラート、カスタムポートフォリオ、市場の動きを入手してください。
iHub News
4週前
powercrush86
1月前
JJ8
1年前
BottomBounce
5年前
DirtCheap78
5年前
Femto99
6年前
TheFinalCD
8年前
メールアドレスで登録
