BJ’s Wholesale Club Holdings, Inc.

What the company does

• Operates BJ’s Wholesale Club warehouse clubs and related services across the United States.
• Offers a curated mix of groceries, fresh foods, general merchandise, and gasoline with a focus on high-volume, low-cost value for members.
• Provides multi-channel shopping: in-club shopping, bjs.com, and a BJ’s mobile app with buy-online-pickup-in-club (BOPIC), curbside delivery, same-day delivery, and ship-to-home options; partners with DoorDash and Instacart for delivery.
• Uses a membership model (Club and Club+) to deliver savings, exclusive brands, and ancillary services such as optical centers, tire services, propane filling, home improvement services, travel services, cell kiosks, and product protection plans.
• Sells private-label products under Wellsley Farms® and Berkley Jensen®, which represented about 27% of total net sales (excluding gasoline) in fiscal 2025.
• Runs BJ’s Media Edge™, a retail media program launched in fiscal 2022 to connect brands with BJ’s members.
• Uses coupons, promotions, private-label savings, and exclusive offers to enhance member value.

Business model and value proposition

• Membership-driven warehouse club focused on delivering substantial member savings (BJ’s states members can save over ten times the $60 Club membership fee when spending $2,500+ annually on manufacturer-branded groceries).
• Combines high sales volumes, low-cost distribution, and direct-from-manufacturer purchasing to maintain a pricing advantage.
• Expands member value through digital capabilities, exclusive brands, and targeted promotions.

Scale and footprint (as of January 31, 2026)

• Clubs: 263 BJ’s warehouse clubs (club sizes range from 44,000 to 177,000 sq ft).
• State coverage: 21 states. Club counts by state:
  • New York 50, Florida 43, Massachusetts 26, New Jersey 24, Pennsylvania 19, Virginia 14, Connecticut 13, Maryland 12, North Carolina 11, Ohio 8, Georgia 7, New Hampshire 7, Tennessee 6, Michigan 5, Delaware 4, Rhode Island 4, Maine 3, South Carolina 3, Indiana 2, Alabama 1, Kentucky 1.
• Gas stations: 199 in operation at or near clubs.
• Distribution and logistics:
  • Three leased cross-dock distribution centers for non-perishable items (leases expire 2031–2033; 480,000–630,000 sq ft each).
  • Four perishable distribution centers (one leased through 2028; three owned; sizes 114,000–252,000 sq ft).
  • Fourth non-perishable distribution center under construction in Ohio, targeted to open in 2027.
  • Additional cross-dock center (~100,000 sq ft) focused on business-to-business transactions (lease expiring 2029).
• Land and facilities:
  • Typical club sites require 10–14 acres of land, including parking.
  • Home office (Club Support Center) in Marlborough, Massachusetts: 188,000 sq ft; lease through 2042.
• Employees: over 35,000 full-time and part-time team members.
• Ownership mix: 210 clubs leased, 30 clubs owned, 23 owned on long-term ground leases.

Financial and operating highlights (selected metrics from fiscal 2025 and around January 31, 2026)

• Membership base and fees:
  • More than 8 million paid memberships as of January 31, 2026.
  • Club membership fee: $60/year; Club+ membership: $120/year (prior to January 1, 2025, $55 and $110, respectively).
  • Add-on membership policy: one free supplemental membership; up to three additional supplemental memberships for $35 each; business members may purchase up to eight additional supplemental memberships for $35 each.
  • Membership fee income: $499.8 million for fiscal year 2025.
• Product mix and sales:
  • Perishables, grocery, and sundries accounted for approximately 87% of merchandise sales in fiscal 2025.
  • General merchandise and services accounted for approximately 13% of merchandise sales in fiscal 2025.
  • Wellsley Farms® and Berkley Jensen® private-label products represented about 27% of total net sales (excluding gasoline) in fiscal 2025.
  • Club+ and co-branded Mastercard members accounted for 42% of members and 52% of merchandise spend (excluding gas and membership income) in fiscal 2025 (versus 39% of members and 50% of spend in fiscal 2024).
• Debt and capital structure:
  • Total outstanding debt: $519.1 million as of January 31, 2026.
  • Credit facilities: ABL Revolving Facility maturing July 28, 2027; First Lien Term Loan maturing February 3, 2029.
• Leases and liquidity:
  • Net lease cost: $398.6 million in fiscal 2025.
  • Future minimum rental commitments for operating leases: $359.4 million in fiscal 2026 and $2.87 billion thereafter.
• Revenue and margins:
  • Net sales and membership income are primary revenue drivers; private-label products contribute meaningfully to net sales (excluding gasoline).
  • Gasoline contributes to overall net sales but generally at lower margins than non-gas merchandise.
• Channels and growth:
  • Digital capabilities (bjs.com and mobile app) support same-day and curbside options, BOPIC, and ship-to-home; millions of app downloads since 2019 and a growing digitally-enabled sales profile.
  • BJ’s Media Edge™ monetizes brand advertising within BJ’s ecosystem.

Corporate structure and governance

• BJ’s Wholesale Club Holdings, Inc. is a holding company; operations are conducted primarily through its subsidiaries.
• Executive leadership reports to the board. Cybersecurity governance includes a Chief Information and Digital Officer (CIDO) and an information security steering committee; the board oversees risk via the audit committee.
• Compliance, regulatory matters, data security, and privacy are components of the company’s risk and governance framework, including past interactions with an FTC consent decree related to data security that expired September 2025.

Strategic characteristics

• Large, loyalty-driven member base focused on value through low prices, private-label products, exclusive membership benefits, and multi-channel shopping.
• Private-label brands provide higher margins and product differentiation.
• Emphasis on digital experiences and a growing e-commerce footprint, complemented by a retail media program to monetize advertising.
• Real estate strategy includes a mix of leased and owned clubs, plus investment in distribution capacity to support growth and evolving member needs.