After turning in mixed results for the fourth quarter, BJ’s Wholesale Club continues adding new stores, including its first in Texas, as it continues to fill in existing markets and explore new ones.
BJ’s plans to open 25 to 30 clubs during the next two fiscal years, including several set for the Dallas-Fort Worth Metropolitan area in early 2026. BJ’s just announced plans to open stores in Delray Beach, FL, Casselberry FL, Warner Robins, GA, and Sevierville, TN, in 2025. The company recently opened a club in Southern Pines, NC, following February debuts in Myrtle Beach, SC, and Brooksville, FL. Locations BJ’s previously announced as set for 2025 openings include Whippany, NJ, and Staten Island in New York City.
“We are eager to continue our expansion by bringing unbeatable value, convenience and assortment to the Dallas-Fort Worth community,” said Bob Eddy, BJ’s chairman and CEO, in announcing the store growth plans. “Economic expansion and a growing population make Texas a great fit for us.”
Net income for the quarter was $122.7 million, or 92 cents per diluted share, versus $145.9 million, or $1.08 per diluted share, in the year-before period. Adjusted for one-time events, net income was $124.1 million, or 93 cents per diluted share, versus $149.8 million, or $1.11 per diluted share, in the year-previous quarter, the company reported.
BJ’s managed to exceed a MarketBeat-published analyst consensus estimate of 86 cents per adjusted diluted share while just missing a revenue estimate of $5.29 billion.
Comparable club sales, excluding gasoline revenue, increased by 4.6% year-over-year led by traffic gains.
Net sales were $5.16 billion, while total revenue was $5.28 billion versus $5.25 billion and $5.36 billion, respectively, in the year-earlier quarter. Operating income was $178.4 million versus $214 million in the year -prior period.
For the full fiscal year, net income was $534.4 million, or $4 per diluted share, versus $523.7 million, or $3.88 per diluted share, in the year before. Adjusted net income was $541.1 million, or $4.05 per diluted share, versus $534.5 million, or $3.96 per diluted share, in the year previous, BJ’s noted.
Net sales were $20.05 billion, while total revenues were $20.5 billion versus $19.55 billion and $19.97 billion, respectively, in the year earlier. Operating income was $772.2 million versus $800.4 million in the year prior.
In a conference call, Eddy noted BJ’s general merchandise and services division comps grew by more than 5% in the fourth quarter, outpacing consumables operation gains for the first time since the pandemic.
BJ’s fourth-quarter and fullyear results for fiscal 2023 included an additional week versus those periods in fiscal 2024. Net sales and net income for the 53rd week came in at $353.4 million and $13.4 million, respectively.
