"We drove quarterly comps and profits that were higher than anticipated... Our business was once again fueled by robust traffic, unit volumes and market-share growth inside our clubs and at the gas pumps."
— Bob Eddy (CEO)
03Detailed Report
BJ
BJs Wholesale Club Holdings Inc
Period
Q3 2024
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedMay 27, 2026
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Executive Summary
BJ's Wholesale Club Holdings Inc reported solid results for Q3 2024, with total revenues reaching approximately $5.1 billion, reflecting a 3.4% year-over-year increase. The growth was supported by strong traffic, comp unit growth, and a significant boost in membership fee income, which grew by 8.4% year-over-year. The company achieved a membership milestone of 7.5 million members, showing an increase in both the number and quality of its membership base. Despite facing challenges such as an East Coast port strike and two hurricanes affecting consumer behavior, BJ's managed to deliver positive comparable sales, indicating resilience and effective strategy execution.
Management emphasized ongoing investments in long-term initiatives, including a recently announced membership fee increase which aims to enhance service quality and member value. These results underscore BJ's competitive positioning within the discount retail sector, marking its strategy as effective in a challenging economic environment.
Key Performance Indicators
Revenue
Decreasing
5.10B
QoQ: -2.04% | YoY: -4.81%
Gross Profit
Increasing
975.48M
19.13% margin
QoQ: 1.98% | YoY: 1.27%
Operating Income
Increasing
229.38M
QoQ: 12.62% | YoY: 3.25%
Net Income
Increasing
155.75M
QoQ: 7.42% | YoY: 6.77%
EPS
Increasing
1.18
QoQ: 8.26% | YoY: 9.26%
Revenue Trend
Margin Analysis
Financial Highlights
### Key Financial Metrics
- Revenue: $5.1 billion (YoY: +3.4%)
- Net Income: $155.7 million (YoY: +6.8%)
- EPS: $1.18 (YoY: +9.3%)
- Gross Profit Margin: 19.1% (YoY: +20 bps)
- Operating Income: $229.4 million (YoY: +3.3%)
- Adjusted EBITDA: $308.3 million (YoY: +13.5%)
- Membership Growth: 7.5 million members (+40% since fiscal 2018)
### Operational Metrics
- Comparable Club Sales (ex-gas): +3.8% (YoY)
- Digital Sales Growth: +30% (YoY)
#### Analysis
The revenue growth was largely driven by robust member acquisition and retention efforts, evidenced by a significant increase in membership fee income and traffic into clubs. Despite facing external challenges, BJ's operating model demonstrated resilience through strategic investments in both merchandising and service enhancements. This reflects a focus on delivering consistent value for its members and indicates a strong operational focus on growing market share in competitive markets.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
5.10B
-4.81%
-2.04%
Gross Profit
975.48M
1.27%
1.98%
Operating Income
229.38M
3.25%
12.62%
Net Income
155.75M
6.77%
7.42%
EPS
1.18
9.26%
8.26%
Key Financial Ratios
Gross Profit Margin
Weak
19.10%
Gross profit margin is below industry norms, profitability concerns
Operating Profit Margin
Weak
4.50%
Operating margin is below industry norms, profitability concerns
Net Profit Margin
Fair
3.05%
Net profit margin is moderate, room for improvement in cost management
Return on Assets
Weak
2.16%
Return on assets suggests inefficient capital allocation
Return on Equity
Fair
8.84%
Return on equity is acceptable but below top-tier companies
Current Ratio
Concern
0.77
Current ratio below safe levels, potential liquidity risk
Debt to Equity
High Risk
1.61
Debt-to-equity indicates high leverage and elevated financial risk
P/E Ratio
Fair Value
18.16x
P/E ratio in line with market averages
Price to Book
High Premium
6.42x
Very high premium suggests asset-light business model or lofty expectations
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