BJ's Wholesale Club Holdings Inc
bjs.comBJ's Wholesale Club Holdings Inc (NYSE: BJ) is a membership warehouse club retailer that operates large-format, high-volume clubs concentrated in the eastern United States. The company makes money through two streams: annual membership fees paid by members for access to the clubs, and merchandise sales across groceries, general merchandise, gasoline, and ancillary services. Membership fee income totaled $499.8 million in fiscal year 2025 (52 weeks ended January 31, 2026), and the tenured membership renewal rate was 90% at the end of fiscal year 2025. BJ's operated 263 clubs and 199 gas stations across 21 states as of January 31, 2026, competing against other warehouse club operators. Founded in New England in 1984, the company has grown membership fee income for over 25 consecutive years, serving more than 8 million members paying either $60 per year for Club membership or $120 per year for Club+ membership as of fiscal year 2025.
Products & Services
Groceries and fresh foods, general merchandise, gasoline (199 stations as of January 31, 2026), and ancillary services. Private label brands include Wellsley Farms and Berkley Jensen. Digital channels include bjs.com, a mobile app, BOPIC (buy online, pick up in club), curbside delivery, same-day delivery, and ship-to-home. The company also accepts manufacturer coupons and offers a co-branded credit card.
Revenue Model
Dual-stream model: annual membership fees ($60 for Club, $120 for Club+, raised from $55 and $110 effective January 1, 2025) plus merchandise and gasoline sales. Membership fee income was $499.8 million in fiscal year 2025. Private label brands Wellsley Farms and Berkley Jensen represented approximately 27% of total net sales excluding gasoline in fiscal year 2025.
Customers & Markets
Individual and household consumers paying annual membership fees. Over 8 million members as of the filing date. Members are primarily in the eastern United States. The membership base spans both Club ($60/year) and Club+ ($120/year) tiers, with higher-tier penetration growing in fiscal year 2025. Tenured membership renewal rate was 90% at end of fiscal year 2025.
Geographic Exposure
21 states as of January 31, 2026, concentrated in the eastern United States. 263 clubs ranging from 44,000 to 177,000 square feet. In its originating New England market, BJ's operates nearly three times the number of clubs compared to the next largest warehouse club competitor.
Peers: Costco Wholesale Corp PriceSmart Inc Walmart Inc
Source: SEC 10-K, filed 2026-03-12
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