BJ's Wholesale Club Reports $20 Billion in Net Sales for Fiscal Year Ending February 1, 2025

BJ's Wholesale Club Holdings, Inc. reported a financial performance for the fiscal year ending February 1, 2025, with net sales reaching $20.0 billion, a 2.5% increase from $19.5 billion in the previous fiscal year. Membership fee income also rose to $456.5 million, up 8.5% from $420.7 million, driven by strong membership acquisition and retention efforts. The company's operating income was $772.2 million, slightly down from $800.4 million in fiscal year 2023, while net income increased to $534.4 million from $523.7 million, resulting in a diluted earnings per share of $4.00.

The company experienced notable changes in its operational metrics, including a 2.8% increase in merchandise comparable club sales, attributed to growth in perishables and general merchandise. BJ's expanded its footprint by opening seven new clubs during the fiscal year, bringing the total to 250 clubs and 186 gas stations across 21 states. The company also reported a membership base of over 7.5 million, with a renewal rate of 90% as of the end of fiscal year 2024.

Strategically, BJ's has focused on enhancing its supply chain capabilities, having brought its end-to-end perishable supply chain in-house through an acquisition completed in May 2022. This move is expected to improve operational efficiencies and product availability. Additionally, the company has increased its membership fees effective January 1, 2025, with the Club Card fee rising from $55 to $60 and the Club+ fee from $110 to $120, which is anticipated to further bolster membership fee income.

Operationally, BJ's reported a total employee headcount of over 33,000 as of February 1, 2025. The company continues to invest in its digital capabilities, with significant engagement through its website and mobile app, which includes features like buy-online-pickup-in-club and same-day delivery services. The company’s focus on private label products, which accounted for approximately 26% of total net sales, remains a key component of its strategy to provide value to members.

Looking ahead, BJ's Wholesale Club Holdings, Inc. anticipates continued growth driven by its strategic investments in infrastructure and technology, alongside the expansion of its club footprint. The company remains cautious of macroeconomic factors that could impact consumer spending, including inflation and changes in the retail landscape. The management expressed confidence in the company's ability to navigate these challenges while maintaining its value proposition for members.