BJ's Wholesale Club Holdings, Inc.
- Open
- 87.29
- Day high
- 87.35
- Day low
- 85.03
- Prev close
- 87.22
- Volume
- 478K
- Mkt cap
- $10.9B
- P/E (TTM)
- 19.5
- EPS (TTM)
- $4.38
- P/B
- 5.1
- P/S
- 0.5
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$4.6M over the last 3 months (0 open-market buys, 9 sales)
- 🏛Institutions mixed (13F)
BJ's Wholesale Club Holdings, Inc. (BJ) is a Consumer Defensive company listed on NYSE. The stock is down 19% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 9 sales (SEC Form 4).
BJ's Wholesale Club Holdings, Inc. (BJ) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 3 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
BJ earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 22, 2026 | $1.04 | $1.10 | +5.8% | $5.7B | +4.1% |
| Mar 5, 2026 | $0.93 | $0.96 | +2.8% | $5.6B | +0.5% |
| Nov 21, 2025 | $1.09 | $1.16 | +6.4% | $5.3B | +0.1% |
| Aug 22, 2025 | $1.09 | $1.14 | +4.6% | $5.4B | -1.9% |
| May 22, 2025 | $0.92 | $1.14 | +23.4% | $5.2B | -0.7% |
| Mar 6, 2025 | $0.88 | $0.93 | +5.9% | $5.3B | +0.3% |
| Nov 21, 2024 | $0.91 | $1.18 | +29.7% | $5.1B | -0.4% |
| Aug 22, 2024 | $1.00 | $1.09 | +9.0% | $5.2B | +1.1% |
| May 23, 2024 | $0.83 | $0.85 | +2.4% | $4.9B | +1.3% |
| Mar 7, 2024 | $1.06 | $1.11 | +4.7% | $5.4B | -0.5% |
| Nov 17, 2023 | $0.95 | $0.98 | +3.2% | $4.9B | -8.3% |
| Aug 22, 2023 | $0.89 | $0.97 | +9.0% | $5.0B | -3.7% |
BJ insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 22, 2026 | Robinson Cathy Mariedirector | Grant | 2,288 | — |
| Jun 22, 2026 | Peterson Christopher Hdirector | Grant | 2,288 | — |
| Jun 22, 2026 | Ortega Steven Ldirector | Grant | 2,288 | — |
| Jun 22, 2026 | Brown Darryldirector | Grant | 2,288 | — |
| Jun 22, 2026 | Parent Kenneth M.director | Grant | 2,288 | — |
| Jun 22, 2026 | Burwick David Adirector | Grant | 2,288 | — |
| Jun 22, 2026 | Steele Robert Allandirector | Grant | 2,288 | — |
| Jun 22, 2026 | Naylor Mailedirector | Grant | 2,288 | — |
| Jun 22, 2026 | Gloeckler Michelle J.director | Grant | 2,288 | — |
| Jun 17, 2026 | Eddy Robert W.director, officer: President & CEO | Sell | 6,600 | $90.21 |
| Jun 17, 2026 | Eddy Robert W.director, officer: President & CEO | Sell | 1,400 | $91.35 |
| Jun 12, 2026 | Schmadeke Scottofficer: EVP, Chief Operations Officer | Sell | 16,500 | $92.17 |
| May 19, 2026 | Eddy Robert W.director, officer: President & CEO | Sell | 5,543 | $95.91 |
| May 19, 2026 | Eddy Robert W.director, officer: President & CEO | Sell | 2,457 | $96.60 |
| Apr 17, 2026 | Eddy Robert W.director, officer: President & CEO | Sell | 7,700 | $90.99 |
Source: BJ SEC Form 4 filings, latest Jun 22, 2026. For informational purposes only — not investment advice.
See the full BJ insider & 13F page →BJ's Wholesale Club Holdings, Inc. company profile
Overview
BJ's Wholesale Club Holdings, Inc. (NYSE:BJ) is a membership-based warehouse club retailer that operates primarily along the East Coast of the United States. Founded in 1984 and headquartered in Westborough, Massachusetts, the company went public in 2018 after being previously owned by private equity. BJ's operates a membership warehouse club model similar to Costco and Sam's Club, offering bulk merchandise, gasoline, and various services to its over 7.5 million members across 17 states. The company has grown from its New England roots to become a significant regional player in the warehouse club industry, operating 250+ clubs and 175+ gas stations as of 2024.
Business
BJ's Wholesale Club operates in the warehouse club retail industry, which is a subset of the discount retail sector. Warehouse clubs are membership-based retailers that sell merchandise in bulk quantities at discounted prices to both individual consumers and small businesses. Members pay an annual fee to access the stores and purchase products at wholesale-like prices. The company operates through several key business segments. The merchandise segment represents the core of BJ's business, accounting for approximately 85-90% of total revenues. This includes two main divisions: the Grocery, Perishables & Sundries division, which sells food items, fresh produce, meat, seafood, and household essentials; and the General Merchandise & Services division, which offers electronics, apparel, home goods, automotive products, and various services. The gasoline segment accounts for roughly 10-15% of revenues, operating gas stations at many club locations that offer discounted fuel to members. BJ's also generates revenue through membership fees, which represent about 2-3% of total revenues but are highly profitable. The company offers two membership tiers: a base membership at $60 annually and a Plus membership at $120 annually that includes additional benefits like cashback rewards and free delivery on online orders. Additionally, BJ's has developed its private label brands including Berkley Jensen, Wellsley Farms, and others, which now represent approximately 26% of merchandise sales and typically offer higher margins than national brands. The company has been aggressively expanding its digital capabilities, with digitally-enabled sales growing over 25% annually. This includes online ordering with various fulfillment options like Buy Online Pick-up In Club (BOPIC), curbside pickup, same-day delivery, and traditional shipping. Digital sales now represent over 11% of total merchandise sales, reflecting the company's adaptation to changing consumer shopping preferences.
Revenue model
BJ's generates revenue through multiple complementary streams that create a robust business model. The primary revenue source is product sales from merchandise, which includes both national brands and the company's growing private label portfolio. Members purchase items in bulk quantities, allowing BJ's to negotiate better wholesale prices from suppliers and pass savings to customers while maintaining healthy margins. Membership fees provide a highly profitable recurring revenue stream, with over 7.5 million members paying annual fees of $60 for base membership or $120 for Plus membership. This subscription-like model creates predictable cash flow and customer loyalty, as members are incentivized to shop frequently to justify their annual fee investment. The company maintains a strong 90% renewal rate, indicating member satisfaction and the stickiness of the membership model. Gasoline sales serve as both a revenue generator and member acquisition tool. Gas stations at BJ's locations typically offer fuel at discounted prices compared to traditional gas stations, driving traffic to clubs and encouraging membership sign-ups. While gas margins are typically lower than merchandise, the convenience factor increases member visits and cross-shopping opportunities. The company's margins are influenced by several key factors. Inflation can be both beneficial and challenging - while it allows for price increases, BJ's must balance maintaining its value proposition with margin protection. Private label penetration positively impacts margins, as these products typically offer 200-400 basis points higher gross margins than national brands. Digital sales growth presents mixed margin impacts - while online fulfillment costs can pressure margins, the convenience drives member engagement and basket size increases. Competition from other warehouse clubs (Costco, Sam's Club) and traditional retailers affects pricing power, while supply chain efficiency and vendor negotiations directly impact cost of goods sold. The company's regional concentration on the East Coast provides logistics advantages but also creates vulnerability to regional economic conditions. Membership mix significantly impacts profitability, as Plus members generate higher fee revenue and tend to spend more per visit.
Competitive moat
BJ's operates with a moderate competitive moat primarily built around its membership model and regional market position. The membership fee structure creates switching costs for consumers, as members are financially incentivized to concentrate their bulk purchases at BJ's to maximize the value of their annual fee. This subscription-like relationship generates predictable recurring revenue and customer loyalty, evidenced by the company's consistent 90% renewal rate. The company's regional dominance on the East Coast provides certain advantages, including supply chain efficiencies, brand recognition, and the ability to tailor merchandise assortments to local preferences. BJ's has built strong relationships with regional suppliers and can leverage its concentrated footprint for logistics cost advantages. The warehouse club format itself creates barriers to entry due to the significant capital requirements for large-format stores, membership acquisition costs, and the need for scale to negotiate favorable supplier terms. However, BJ's moat faces several challenges. The company operates in a highly competitive landscape dominated by much larger players - Costco and Sam's Club have significantly greater scale, buying power, and geographic diversification. These competitors can often negotiate better supplier terms and invest more heavily in technology and store improvements. Additionally, traditional retailers and e-commerce platforms increasingly offer bulk purchasing options and competitive pricing, potentially eroding the unique value proposition of warehouse clubs. The rise of digital commerce and delivery services presents both opportunities and threats. While BJ's has invested heavily in digital capabilities, pure-play e-commerce companies and traditional retailers with strong online platforms can offer convenience that may substitute for the warehouse club experience. The company's moat is further challenged by its limited geographic footprint compared to national competitors, which constrains growth opportunities and reduces negotiating leverage with suppliers. Overall, BJ's possesses a defensive business model with recurring revenue characteristics, but operates in an intensely competitive industry where scale advantages are crucial for long-term success.
Risks & safety
BJ's demonstrates a moderate margin of safety with some financial strengths offset by structural challenges typical of the retail industry. **Liquidity and Debt Management:** - Cash position is relatively low at $28-39 million, but the company generates strong operating cash flow of $900+ million annually - Current ratio of 0.74 indicates working capital constraints, typical for retailers with inventory-heavy operations - Debt-to-equity ratio of 1.37-1.54 shows moderate leverage levels that are manageable but require monitoring - Free cash flow generation of $250-400 million annually provides flexibility for debt service and growth investments **Valuation Metrics:** - P/E ratio of 24-26x appears reasonable for a growing retailer with membership fee recurring revenue - EV/EBITDA of 15-22x suggests moderate valuation levels - Price-to-book ratio of 7-8x reflects the asset-light nature of the membership model but indicates limited tangible asset protection **Other Considerations:** - Strong membership renewal rates (90%) and growing member base provide revenue predictability - Consistent EBITDA margins around 5% demonstrate operational efficiency - Regional concentration creates both efficiency benefits and geographic risk concentration - Capital-intensive expansion plans require continued access to capital markets
Recent development
Over the past few years, BJ's has executed several strategic initiatives focused on enhancing member value and driving growth. The company launched its Fresh 2.0 initiative, a comprehensive overhaul of its perishables strategy that includes improved produce sourcing, enhanced in-store presentation, and expanded fresh food offerings. This initiative has driven double-digit growth in produce sales and increased member shopping frequency. BJ's has significantly expanded its digital capabilities, with digitally-enabled sales growing over 25% annually. The company has invested in artificial intelligence and inventory robots to improve order fulfillment efficiency, while expanding services like Buy Online Pick-up In Club (BOPIC), curbside pickup, and same-day delivery. Digital sales now represent over 11% of merchandise sales, up from minimal levels just a few years ago. The company has pursued aggressive geographic expansion, opening 25-30 new clubs over the past two years and announcing plans to enter the Texas market in 2026. This expansion strategy focuses on both existing markets where BJ's can leverage brand recognition and new markets with strong demographic profiles. The company has also been adding gas stations to existing clubs, which significantly improves club performance and member retention. Membership strategy enhancements have been a key focus, including the first membership fee increase in seven years (base membership from $55 to $60, Plus from $110 to $120) and initiatives to drive higher-tier membership penetration, which has grown to nearly 40% of the member base. BJ's also launched a new co-brand credit card partnership with Capital One to enhance member benefits and engagement. The company has continued expanding its private label portfolio, with own brands now representing 26% of merchandise sales and growing approximately three times faster than the broader business. These brands typically offer higher margins while providing members with exclusive value propositions.
BJ company profile · for informational purposes only — not investment advice.
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