What were the key takeaways from BJ's Wholesale Club's earnings call?

What guidance did BJ's Wholesale Club's management provide for the next earnings period?

What were the key takeaways from BJ's Wholesale Club’s earnings call?

What does BJ's Wholesale Club do and what are its main business segments?

What is BJ's Wholesale Club's latest dividend and current dividend yield?

What factors drove the changes in BJ's Wholesale Club's revenue and profit?

Did BJ's Wholesale Club beat or miss consensus estimates last quarter?

What is the market's earnings forecast for BJ's Wholesale Club next quarter?

- **Revenue Growth**: 1.8% merchandise comp, 5.5% 2-year stack, fueled by perishables and 30% digital sales growth.
- **Strategic Initiatives**: AI shopping assistant, 10% team discount, and 14 new clubs opened in 2025.
- **Financial Performance**: Adjusted EPS $1.16, EBITDA $301.4 million, with $866 million remaining for buybacks.
- **Guidance**: 2-3% comp growth, cautious on GM due to inventory constraints.
- **Expansion Success**: New clubs outperforming by 25%, with 25-30 openings planned by 2026.

**【CEO Summary Section】**
 BJ's Wholesale Club reported strong Q3 2025 results, marking the 12th consecutive quarter of market share growth and 15th consecutive quarter of traffic growth. Key highlights include:
- **Merchandise Comparable Sales**: 1.8% year-over-year (YoY) growth, with a 5.5% 2-year stack (normalized for 2024 disruptions). Perishables and general merchandise divisions each grew 1.8%.
- **Digital Growth**: 30% YoY increase in digitally enabled sales, driven by BOPIC, same-day delivery, and ExpressPay.
- **Membership Expansion**: Membership fee income rose 9.8% YoY, with higher-tier membership penetration up 50 basis points sequentially. 14 new clubs opened in 2025, with plans for 25-30 by 2026.
- **Value Initiatives**: Reduced delivery fees, 10% team member discount, and owned brands priced 30% below national brands.

**【CFO Financial Commentary】**
- **Revenue**: Net sales of $5.2 billion (+4.8% YoY), with adjusted EPS of $1.16 (-2% YoY due to a legal settlement, +8% normalized).
- **Margins**: Merchandise gross margin flat YoY; SG&A as a percentage of sales slightly deleveraged.
- **Inventory Management**: Total inventory down 1.5% YoY, in-stock levels up 90 basis points.
- **Balance Sheet**: EBITDA of $301.4 million (-2% YoY); share buybacks of $87.3 million in Q3.
- **Guidance**: Full-year merchandise comp sales 2-3%, adjusted EPS $4.30-4.40.

**【Q&A Highlights】**
- **Consumer Behavior**: Low-income members showed resilience, with stable purchasing habits despite economic challenges.
- **Inventory Strategy**: Tight GM inventory to control costs, impacting short-term sales but supporting long-term value.
- **Fresh 2.0 Success**: Perishables growth driven by investments, with plans to expand into meat and seafood.
- **AI Innovation**: Beta launch of AI shopping assistant and Tally robot efficiency improvements.
- **Market Expansion**: New clubs in Texas and Alabama performing 25% ahead of plan, with strong community engagement.


BJ's Wholesale Club Holdings, Inc. (BJ) Q3 2026 Earnings Call Transcript

- **Membership Milestone**: Reached 8 million members, up 55% since IPO, with 41% higher-tier penetration. 
- **Digital Surge**: Digital sales +34% YoY, 56% 2-year stack, driven by BOPIC and Express Pay. 
- **Perishables Growth**: 3% YoY comp in perishables, supported by Fresh 2.0 and meat/seafood category improvements. 
- **Financial Strength**: Adjusted EBITDA +8% to $303.9M; MFI up 9% to $123.3M. 
- **Expansion Ambition**: 25-30 new clubs planned for 2026, including Dallas-Fort Worth market entry. 
- **Tariff Caution**: Cautious buying in high-tariff categories to mitigate markdown risk, but maintaining 2-3.5% comp sales guidance.

**【CEO Summary Section】**
- **Revenue Growth**: Comparable club sales (excluding gas) increased 2.3% YoY, driven by 14 consecutive quarters of traffic growth and 11 quarters of market share growth. Membership reached 8 million, a 55% increase since IPO. 
- **Digital Expansion**: Digital sales grew 34% YoY and 56% on a 2-year stack, with BOPIC, Express Pay, and same-day delivery leading adoption. 
- **Perishables Success**: Perishables, Grocery, and Sundries division grew 3% YoY, supported by Fresh 2.0 initiative and meat/seafood category improvements. 
- **GM Challenges**: General Merchandise (GM) comp sales declined 2.2% YoY due to weather and macro factors, though apparel showed low-single-digit growth. 
- **Inventory Management**: Absolute inventory down 2% YoY, with in-stock levels improving 50 basis points. New club openings (5 in Q2, 8 planned for Q3) outperformed tenured clubs. 
- **Tariff Strategy**: Cautious buying in high-tariff categories (e.g., holiday decor) to mitigate markdown risk, balancing short-term prudence with long-term relevance. 

**【CFO Financial Commentary】**
- **Top Line**: Net sales $5.3B (+3.2% YoY), with merchandise comp +2.3% YoY. Membership fee income (MFI) grew 9% to $123.3M, driven by fee increase and higher-tier penetration (41%). 
- **Margins**: Merchandise gross margin improved 10 basis points YoY. Adjusted EBITDA rose 8% to $303.9M, with effective tax rate 26.9%. 
- **Balance Sheet**: Ended Q2 with $953M remaining under share buyback authorization and 0.4x net leverage. 
- **Guidance**: Full-year comp sales (excl. gas) expected 2-3.5% growth; updated EPS guidance to $4.20-$4.35. 

**【Q&A Highlights】**
- **Weather Impact**: Q2 sales weakened in wet/cold start, rebounded in July. GM categories like recreation/lawn & garden declined double digits. 
- **Consumer Behavior**: Low-income members showed loyalty despite macro stress, with total spending increasing per member. 
- **Tariff Volatility**: Team repointed sourcing to mitigate tariff impact, but noted potential limits on upside. 
- **Digital Growth**: Over 90% of digital sales fulfilled by clubs, with app usage >50% of active members. 
- **Expansion Pipeline**: 25-30 new clubs planned for 2026, including Dallas-Fort Worth entry. 
- **Investment Strategy**: Balancing short-term markdown risk with long-term value creation, maintaining 2-3.5% comp sales guidance despite macro headwinds.

BJ's Wholesale Club (BJ)-22 Aug 25-2026 Q2 Earnings call transcript

- **Revenue Growth**: Q1 net sales $5B (+4.7% YoY), driven by 3.9% comp sales (ex-gas) and 8.1% MFI.
- **Strategic Momentum**: Fresh 2.0 produce comps +10%+, digitally enabled sales +35% YoY, 5 new clubs opened.
- **Membership Strength**: Higher-tier penetration 40.1% (vs. 39% prior), 20%+ Staten Island club outperformance.
- **Financial Resilience**: 27% operating income growth, 30bps margin expansion, $140M capex funded by cash flow.
- **Guidance Confidence**: Full-year 2-3.5% comp growth despite macro uncertainty, $4.10-$4.30 EPS range maintained.
- **Digital Expansion**: 35% YoY digital sales growth, 20%+ basket size increase offsetting pick/fulfill costs.
- **Tariff Mitigation**: 30%+ domestic sourcing, 24/7 monitoring team, 20%+ re-sourced tariff-impacted goods.
- **Private Brand Growth**: All-time high penetration, quality-driven expansion in produce, meat, and sundries.


**【CEO Opening Remarks】**
- Q1 2025 net sales grew 4.7% YoY to $5 billion, driven by 3.9% comparable club sales (excluding gas) and strong membership growth.
- Key strategic priorities: 
  - Membership expansion: Higher-tier penetration reached 40.1% (up 100+ bps QoQ), with fee increase contributing $120.4M in MFI.
  - Fresh 2.0 initiative: Produce comps up 10%+ YoY, meat/seafood pilot showing early traction.
  - Digital convenience: Digitally enabled sales +35% YoY, BOPIC/Curbside adoption driving engagement.
  - New club openings: 5 clubs opened in Q1, on track for 25-30 new clubs over 2 years.

**【CFO Financial Highlights】**
- GAAP EPS: $1.13; Non-GAAP EPS: $1.14 (vs. $1.08 estimate).
- Merchandise gross margin +30bps YoY to 25.4%, benefiting from category management and cost control.
- SG&A as % of sales: 21.0% (up 10bps YoY due to new club investments).
- Inventory: Down 2% per club, with 30bps improvement in stock-out rates.
- Guidance: Full-year comp sales 2-3.5% (ex-gas), EPS $4.10-$4.30.

**【Q&A Key Takeaways】**
1. **Real Estate Strategy**: 
   - Accelerating new club openings to 25-30 over 2 years, targeting both new and existing markets.
   - Staten Island club performed 20%+ above expectations, supporting 2025+ pipeline.
2. **Membership Algorithm**: 
   - Long-term algorithm unchanged; focus on activating 3M+ inactive members via digital engagement.
   - Higher-tier penetration target >50% (currently 40.1%).
3. **Tariff Impact**: 
   - Less exposed than peers, with 30%+ of goods sourced domestically.
   - Investments in alternative suppliers and AI-driven cost optimization.
4. **Digital Margin Impact**: 
   - Digital sales (+35% YoY) slightly below gross margin due to pick/fulfill costs, but offset by 20%+ basket size increase.
5. **GM Category Outlook**: 
   - Discretionary categories (patio, sheds) soft due to weather/economic uncertainty, but core GM (apparel, CE) resilient.
6. **Private Brands**: 
   - Penetration at all-time high, with quality-driven growth in produce, meat, and sundries.
7. **Tariff Risk Management**: 
   - 24/7 monitoring team; 20%+ of tariff-impacted goods already re-sourced.
8. **Inflation Hedge**: 
   - 25%+ grocery price advantage maintained via scale, direct sourcing, and digital price transparency.


BJ's Wholesale Club Holdings, Inc. (BJ) Q1 2025 Earnings Call Transcript

- **Record Growth**: FY2024 adj. EPS up 15% to $3.85, 7.5M+ members (90% renewal rate).
- **Digital Dominance**: Q4 digital sales +26% YoY, 60%+ members engage via app.
- **Expansion Ambition**: 25-30 new clubs in 2 years, entering TX, NY, NJ.
- **Fresh Innovation**: Fresh 2.0 driving +10% produce comps, new shoppers boosting baskets by 4+ categories.
- **Profitability**: FY2025 adj. EPS guidance $4.10-4.30, despite 11% SG&A growth.

**【CEO Opening Remarks】**
- Q4 comparable club sales (excluding gas) grew 4.6%, driven by 12 consecutive quarters of traffic growth.
- FY2024 record net sales of $19.3B, 7.5M+ members (90% renewal rate), and adj. EPS of $3.85.
- Key initiatives: Fresh 2.0 (produce comp +10% YoY), digital sales growth (+26% Q4 YoY), and 7 new clubs opened in Q4.

**【CFO Financial Highlights】**
- Q4 net sales: $5.1B (+5.4% YoY), MFI: $117M (+7.9% YoY), adj. EPS: $0.93.
- Gross margin: 25.6% (down 10bps YoY due to egg costs and fresh produce investments).
- SG&A: $758M (+11% YoY) driven by new clubs and incentives.
- FY2025 guidance: comp sales (excl. gas) +2-3.5%, adj. EPS $4.10-4.30.

**【Q&A Key Takeaways】**
- **Tariffs & Supply Chain**: Minimal direct exposure (2% China-sourced goods). Focus on cost mitigation and supplier diversification.
- **Digital Growth**: 60%+ members use app; same-day delivery adoption driving profitability.
- **New Clubs**: 25-30 openings over 2 years, 2x chain comp rate, and 10-year pipeline expansion into TX, NY, NJ.
- **Fresh 2.0**: Early data shows new produce shoppers visit 4+ categories post-purchase, boosting basket size.
- **Membership**: Club Plus penetration near 40%, with 2 free deliveries/year as retention driver.


BJ's Wholesale Club Holdings, Inc. (BJ) Q4 2024 Earnings Call Transcript

BJ's Wholesale Club (BJ)-21 Nov 24-2025 Q3 Earnings call transcript

BJ's Wholesale Club (BJ)-22 Aug 24-2025 Q2 Earnings call transcript

BJ`s Wholesale Club (BJ)-23 May 24-2025 Q1 Earnings call transcript

BJ`s Wholesale Club (BJ)-7 Mar 24-2024 Q4 Earnings call transcript

BJ`s Wholesale Club (BJ)-17 Nov 23-2024 Q3 Earnings call transcript

BJ`s Wholesale Club (BJ)-22 Aug 23-2023 Q2 Earnings call transcript

BJ`s Wholesale Club (BJ)-23 May 23-2023 Q1 Earnings call transcript

BJ`s Wholesale Club (BJ)-9 Mar 23-2022 Q4 Earnings call transcript

BJ`s Wholesale Club (BJ)-17 Nov 22-2022 Q3 Earnings call transcript

BJ`s Wholesale Club (BJ)-18 Aug 22-2022 Q2 Earnings call transcript

BJ`s Wholesale Club (BJ)-19 May 22-2022 Q1 Earnings call transcript

BJ`s Wholesale Club (BJ)-3 Mar 22-2021 Q4 Earnings call transcript

BJ`s Wholesale Club (BJ)-18 Nov 21-2021 Q3 Earnings call transcript

BJ`s Wholesale Club (BJ)-19 Aug 21-2021 Q2 Earnings call transcript

BJ`s Wholesale Club (BJ)-20 May 21-2021 Q1 Earnings call transcript

BJ`s Wholesale Club (BJ)-4 Mar 21-2020 Q4 Earnings call transcript

BJ`s Wholesale Club (BJ)-19 Nov 20-2020 Q3 Earnings call transcript

BJ`s Wholesale Club (BJ)-20 Aug 20-2020 Q2 Earnings call transcript

BJ`s Wholesale Club (BJ)-21 May 20-2020 Q1 Earnings call transcript

BJ`s Wholesale Club (BJ)-5 Mar 20-2019 Q4 Earnings call transcript

BJ`s Wholesale Club (BJ)-21 Nov 19-2019 Q3 Earnings call transcript

BJ`s Wholesale Club (BJ)-22 Aug 19-2019 Q2 Earnings call transcript

BJ`s Wholesale Club (BJ)-23 May 19-2019 Q1 Earnings call transcript

BJ`s Wholesale Club (BJ)-6 Mar 19-2018 Q4 Earnings call transcript

BJ`s Wholesale Club (BJ)-20 Nov 18-2018 Q3 Earnings call transcript

BJ

BJ fundamentals

Earnings Call

You can ask Aime