What changed in this filing

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Item 1. Business

2024-03-18 compared with 2023-03-16 · 86 added, 84 removed, 194 unchanged (47% of the section changed)

BJ’s Wholesale Club is a leading warehouse club operator concentrated primarily on the eastern half of the United States.

BJ’s Wholesale Club is a leading operator of membership warehouse clubs concentrated primarily on the eastern half of the United States.

We deliver significant value to our members, consistently offering 25% or more savings on a representative basket of manufacturer-branded groceries compared to traditional supermarket competitors .

We provide a curated assortment focused on perishable products, continuously refreshed general merchandise, gasoline and other ancillary services, coupon books, and promotions to deliver a differentiated shopping experience that is further enhanced by our digital capabilities.

We provide a curated assortment focused on groceries, continuously refreshed general merchandise, gasoline and other ancillary services, coupon books, and promotions to deliver a differentiated shopping experience that is further enhanced by our omnichannel capabilities.

Since pioneering the warehouse club model in New England in 1984, we have grown our footprint to 243 large-format, high volume warehouse clubs and 174 gas stations spanning 20 states as of fiscal year end 2023.

In our New England markets, which have high population density and generate a disproportionate part of U.S.

In our core New England market, which has high population density and generates a disproportionate part of U.S.

gross domestic product ("GDP"), we operate more than three times the number of clubs compared to the next largest warehouse club competitor.

In addition to shopping in our clubs, members are able to shop when and how they want through our website, bjs.com, and our highly rated mobile app, which allows them to use our buy-online-pickup-in-club ("BOPIC") service, curbside delivery, same-day home delivery or traditional ship-to-home service, as well as through the DoorDash and Instacart marketplaces where members receive preferential pricing by linking their membership.

We also launched Same-Day Select in the first quarter of fiscal year 2022, which offers BJ’s members the ability to pay a one-time fee for either unlimited or twelve same-day grocery deliveries over a one-year period.

Our leadership team continues to focus on transforming how we use data to improve member experience, instilling a culture of cost discipline, adopting a more proactive approach to growing our membership base and building an omnichannel offering oriented towards making shopping at BJ’s more convenient.

These changes continue to delivered results rapidly, evidenced by year-over-year income from continuing operations growth, consecutive quarter comparable club sales growth and adjusted EBITDA growth over the last four years.

We also offer Same-Day Select, which offers BJ’s members the ability to pay a one-time fee for either unlimited or twelve same-day grocery deliveries over a one-year period.

Our goal is to offer our members significant value and a meaningful return in savings on their annual membership fee.

We have more than six and a half million members paying annual fees to gain access to savings on groceries and general merchandise and services.

The annual membership fee for our Inner Circle ® membership is generally $55, and the annual membership fee for our BJ’s Club+ (formerly Perks Rewards ®) membership, which offers additional value-enhancing features, is generally $110.

We believe that members can save over ten times their $55 Inner Circle membership fee versus what they would otherwise pay at traditional supermarket competitors when they spend $2,500 or more per year at BJ’s on manufacturer-branded groceries.

We have over 7 million members paying annual fees to gain access to savings on groceries and general merchandise and services.

The annual membership fee for our Club Card membership is generally $55, and the annual membership fee for our Club+ membership, which offers additional value-enhancing features, is generally $110.

We believe that members can save over ten times their $55 Club Card membership fee versus what they would otherwise pay at traditional supermarket competitors when they spend $2,500 or more per year at BJ’s on manufacturer-branded groceries.

In addition to providing significant savings on a representative basket of manufacturer-branded groceries, we accept all manufacturer coupons and also carry our own exclusive brands that enable members to save on price without compromising on quality.

Our two private label brands, Wellsley Farms ® and Berkley Jensen ® , represent over $3.7 billion in annual sales, and are the largest brands we sell in terms of volume.

Our two private label brands, Wellsley Farms ® and Berkley Jensen ® , represent approximately $4.1 billion in annual sales.

Our customers recognize the relevance of our value proposition across economic environments, as demonstrated by over 25 consecutive years of membership fee income growth.

Our membership fee income ("MFI") was $396.7 million for fiscal year 2022.

Our membership fee income was $420.7 million for fiscal year 2023.

On May 2, 2022, the Company completed its acquisition of the assets and operations of four distribution centers and the related private transportation fleet from Burris Logistics (the "Acquisition"), which brings substantially all of the end-to-end perishable supply chain in-house.

See Note 1 9 , "Acquisitions" of our condensed consolidated financial statements included in this Annual Report on Form 10-K for additional information regarding the Acquisition.

See " Note 20 .

Acquisitions" of our consolidated financial statements included in this Annual Report on Form 10-K for additional information regarding the Acquisition.

Industry Overview

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Warehouse clubs eliminate many of the merchandise handling costs associated with traditional multiple-step distribution channels by purchasing full truckloads of merchandise directly from manufacturers and by storing merchandise on the sales floor rather than in central warehouses.

By operating no-frills, self-service warehouse facilities, warehouse clubs have fixturing

and operating costs substantially below those of traditional retailers.

By operating no-frills, self-service warehouse facilities, warehouse clubs have fixturing and operating costs substantially below those of traditional retailers.

Because of their higher sales volumes and rapid inventory turnover, warehouse clubs generate cash from the sale of a large portion of their inventory before they are required to pay merchandise vendors.

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Customers at warehouse clubs are generally limited to members who pay an annual fee.

As of January 28, 2023, we operated 235 clubs ranging in size from 44,000 square feet to 177,000 square feet.

As of February 3, 2024, we operated 243 clubs ranging in size from 44,000 square feet to 177,000 square feet.

We aim to locate our larger clubs in high density, high traffic locations that are difficult to replicate.

We design our smaller format clubs to serve markets whose population is not sufficient to support a larger club or that are in locations, such as urban areas, where there is inadequate real estate space for a larger club.

Including space for parking, the amount of land required for a BJ’s club generally ranges from ten acres to approximately fourteen acres.

Including space for parking, the amount of land required for a BJ’s club generally ranges from ten acres to fourteen acres.

Our clubs are located in both free-standing locations and shopping centers.

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Our Company-operated distribution centers receive large shipments from manufacturers and quickly ship these goods to individual clubs, generally within 24 hours.

This process creates freight volume and handling efficiencies, eliminating many costs associated with traditional multiple-step distribution channels, including distributors’ commissions and the cost of storing merchandise in central distribution facilities.

This process creates freight volume and handling efficiencies, substantially reducing many costs associated with traditional multiple-step distribution channels, including distributors’ commissions and the cost of storing merchandise in central distribution facilities.

We work closely with manufacturers to minimize the amount of handling required once merchandise is received at a club.

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Back-up merchandise is generally stored in steel racks above the sales floor.

A summary of our club locations by market as of January 28, 2023 is set forth in the table below:

A summary of our club locations by state as of February 3, 2024 is set forth in the table below:

Market Club Count

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South Carolina 1

Our retail operations, which include retail club and other sales procured from our clubs and distribution centers, represent substantially all of our consolidated total revenues, are our only reportable segment.

All of our identifiable assets are located in the United States.

Substantially all of our identifiable assets are located in the United States.

We do not have significant sales outside the United States, nor does any customer represent more than 10% of total revenues for any period presented .

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We service our existing members and attract new members by providing a broad range of high quality, brand name and private label merchandise at prices that are consistently lower than the prices of traditional retailers, including discount retailers, supermarkets, supercenters and specialty retail operations.

We limit the items offered in each product line to fast selling styles, sizes and colors, carrying approximately 7,000 core active stock keeping units ("SKUs").

We may add additional temporary SKUs from time to time to keep up with demand, such as that created by the COVID-19 pandemic.

We limit the items offered in each product line to fast selling styles,

sizes and colors, carrying approximately 7,000 core active stock keeping units ("SKUs").

We may add additional temporary SKUs from time to time to keep up with demand.

By contrast, supermarkets normally carry an average of 40,000 SKUs, and supercenters may stock 100,000 SKUs or more.

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• General merchandise and services:

consists of optical, tires, small appliances, televisions, electronics, seasonal goods, gift cards, and apparel, which constituted approximately 15% of our merchandise sales for fiscal year 2022.

consists of electronics, apparel, seasonal goods, small appliances, televisions, optical, tires, and gift cards, which constituted approximately 14% of our merchandise sales for fiscal year 2023.

BJ’s consumer-focused private label products, sold under Wellsley Farms ® and Berkley Jensen ® brands, comprised approximately 26% of our total net sales, excluding gasoline, in fiscal year 2023.

These products are primarily premium quality and generally are priced below the branded competing product.

We focus both on a group of core private label products that compete with national brands that have among the highest market share and yield high margins and on differentiated products that drive member loyalty.

We focus both on a group of core private label products that compete with national brands that have among the highest market share and yield higher margins and on differentiated products that drive member loyalty.

We also offer a number of specialty services that are designed to enable members to complete more of their shopping at our clubs and to encourage more frequent trips to the clubs.

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and product protection plans.

As of January 28, 2023, we had 164 gasoline stations in operation at or near our clubs.

As of February 3, 2024, we had 174 gasoline stations in operation at or near our clubs.

The gas stations are generally self-service, with some locations accepting cash.

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Our members appreciate the convenience of the BJ’s mobile app, as evidenced by millions of downloads since fiscal year 2019, as well as ExpressPay®, which allows members to skip checkout lines when they shop in club by paying with their phones.

In the fourth quarter of fiscal year 2022, we announced the launch of our retail media program, BJ’s Media Edge™, using Microsoft PromoteIQ.

In the fourth quarter of fiscal year 2022, we announced the launch of our retail media program, BJ’s Media Edge™.

The program offers brands a comprehensive advertising solution to connect with BJ’s members.

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In addition to providing a source of revenue which permits us to offer low prices, membership reinforces customer loyalty.

We have a large base of more than six and a half million paid memberships as of January 28, 2023.

We have a large base of more than 7 million paid memberships as of February 3, 2024.

Our target customers care about value, quality and convenience and shop at warehouse clubs for their family needs.

Our target customers are a price sensitive demographic with large household sizes, representing the largest segment of warehouse club shoppers in BJ’s trade areas.

We offer two core types of memberships:

Inner Circle® memberships and business memberships.

We generally charge $55 per year for a primary Inner Circle membership that includes one additional card for a household member.

Primary members may purchase up to three supplemental memberships for $30 each.

A primary business membership typically costs

$55 per year and includes one free supplemental membership.

Business members may purchase up to eight additional supplemental business memberships at $30 each.

military personnel—active and veteran—who enroll at a BJ’s club location can do so for a reduced membership fee.

We are currently rebranding our higher tier membership from BJ’s Perks Rewards® to Club+, which offers members the opportunity to earn 2% cash back on most in-club and bjs.com purchases and 5-cent per gallon discount on gasoline.

During fiscal year 2023, we rebranded our memberships and co-branded credit card.

Historically, we've offered two core types of memberships:

the Club Card (formerly Inner Circle®) memberships and business memberships.

We generally charged $55 per year for a primary Club Card membership that included one additional card for a household member.

Primary members could purchase up to three supplemental memberships for $30 each.

A primary business membership typically cost $55 per year and included one free supplemental membership.

Business members could purchase up to eight additional supplemental business memberships at $30 each.

military personnel—active and veteran—who enrolled at a BJ’s club location could do so for a reduced membership fee.

Our higher tier membership was rebranded from BJ’s Perks Rewards® to Club+, which offers members the opportunity to earn 2% cash back on most in-club and bjs.com purchases and 5-cent per gallon discount on gasoline.

The annual fee for a Club+ membership is generally $110 per year.

We are also launching our new BJ's One™ and BJ's One+™ Mastercard® credit cards (formerly the My BJ’s Perks® program) These cards provide members with the opportunity to earn up to 5% cash back on purchases made at our clubs or online at bjs.com and up to a 15-cent per gallon discount on gasoline when paying with a BJ's One™ or BJ's One+™ Mastercard® at our BJ’s Gas locations.

We also launched our new BJ's One™ and BJ's One+™ Mastercard® credit cards (formerly the My BJ’s Perks® program).

These cards provide members with the opportunity to earn up to 5% cash back on purchases made at our clubs or online at bjs.com and up to a 15-cent per gallon discount on gasoline when paying with a BJ's One™ or BJ's One+™ Mastercard® at our BJ’s Gas locations.

Since fiscal year 2014, we have grown co-branded Mastercard® holders by over 1000%.

In fiscal year 2022, BJ’s Perks Rewards members and co-branded Mastercard® members accounted for 38% of members and 52% of merchandise spend (excludes gas and membership fee income), compared to 35% of members and 45% of spend in fiscal year 2021.

In fiscal year 2023, Club+ members and co-branded Mastercard® members accounted for 38% of members and 49% of merchandise spend (excluding gas and membership fee income), compared to 38% of members and 48% of merchandise spend (excluding gas and membership fee income) in fiscal year 2022.

Advertising and Public Relations

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We must comply with provisions regulating health and sanitation standards, food labeling, equal employment, minimum wages, environmental protection, licensing for the sale of food and, in many clubs, licensing for beer and wine or other alcoholic beverages.

Our operations, including the manufacturing, processing, formulating, packaging, labeling and advertising of products are subject to regulation by various federal agencies, including the Food and Drug Administration (the

"FDA"), the Federal Trade Commission (the "FTC"), the U.S.

Department of Agriculture (the "USDA"), the Consumer Product Safety Commission and the Environmental Protection Agency.

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Similarly, the USDA’s Food Safety Inspection Service is the public health agency responsible for ensuring that the nation’s commercial supply of meat, poultry, catfish and certain egg products is safe, wholesome and correctly labeled and packaged under the Federal Meat Inspection Act and the Poultry Products Inspection Act.

Congress amended the FDCA in 2011 through passage of the Food Safety Modernization Act (the "FSMA"), which greatly expanded the FDA’s regulatory obligations over all actors in the supply chain.

Industry actors continue to determine the best pathways to implement FSMA’s regulatory mandates and the FDA’s promulgating regulations throughout supply chains, as most requirements are now in effect.

Congress amended the FDCA in 2011 through passage of the Food Safety Modernization Act, which greatly expanded the FDA’s regulatory obligations over all actors in the supply chain.

Such regulations mandate that risk-based preventive controls be observed by the majority of food producers.

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The FTC has the power to institute monetary sanctions and the imposition of consent decrees and penalties that can severely limit a company’s business practices.

In recent years, the FTC has instituted numerous enforcement actions against dietary supplement companies for failure to have adequate substantiation for claims made in advertising or for the use of false or misleading advertising claims.

As is common in our industry, we rely on our suppliers and contract manufacturers, including those of our private label products, to ensure that the products they manufacture and sell to us comply with all applicable regulatory and legislative requirements.

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Our quarterly results have been, and will continue to be, affected by the timing of new club openings and their associated pre-opening expenses.

As a result of these factors, our financial results for any single quarter or for periods of less than a year are not necessarily indicative of the results that may be achieved for a full fiscal year.

As a result of these factors, our

financial results for any single quarter or for periods of less than a year are not necessarily indicative of the results that may be achieved for a full fiscal year.

Employees and Human Capital Resources

As of January 28, 2023, we had over 34,000 full-time and part-time employees, whom we refer to as team members.

As of February 3, 2024, we had over 34,000 full-time and part-time employees, whom we refer to as team members.

None of our team members are represented by a union.

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We have a long and proud history of investing in the communities where we live and work.

BJ’s Charitable Foundation was established with the mission to enrich every community BJ’s Wholesale Club serves.

BJ’s Charitable Foundation (the "Foundation") was established with the mission to enrich every community we serve.

The Foundation supports nonprofit organizations that primarily benefit the underprivileged in the areas of hunger prevention and education.

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BJ’s Wholesale Club Holdings Inc.

(formerly Beacon Holding, Inc.) was incorporated on February 23, 2018.

was incorporated on February 23, 2018.

On July 2, 2018, BJ’s Wholesale Club Holdings, Inc.

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We make available on our website (http://www.bjs.com), or through a link posted on our website, free of charge, our Annual Reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, and amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Exchange Act as soon as reasonably practicable after we electronically file such material with, or furnish it to, the Securities and Exchange Commission (the "SEC").

In addition, the

SEC maintains an internet site that contains these reports, proxy and information statements, and other information regarding issuers that file electronically with the SEC (http://www.sec.gov).

In addition, the SEC maintains an internet site that contains these reports, proxy and information statements, and other information regarding issuers that file electronically with the SEC (http://www.sec.gov).

The information on our website or that can be accessed through our website is not incorporated by reference and should not be considered to be a part of this Annual Report on Form 10-K.

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Eddy 51 Robert W.

Eddy has served as President and Chief Executive Officer of the Company and as a member of our Board of Directors since April 2021.

Eddy joined the Company in 2007 as Senior Vice President, Finance and was named Executive Vice President and Chief Financial Officer in 2011 and served as Executive Vice President, Chief Financial and Administrative Officer from 2018 to April 2021 when he became President and Chief Executive Officer.

Eddy is chairman and chief executive officer of the Company.

He has served as president and chief executive officer of the Company since April 2021.

He joined the Company's board as a director in April 2021 and was appointed chairman of the board in June 2023.

Eddy joined the Company in 2007 and during his tenure served in various executive financial roles for the Company including as senior vice president finance, executive vice president, chief financial officer, and executive vice president, chief financial and administrative officer.

Prior to joining BJ’s, Mr.

Eddy served retail and consumer products companies as a member of the audit and business advisory practice of PricewaterhouseCoopers LLP, in Boston and San Francisco.

Eddy is a graduate of Babson College in Wellesley, Massachusetts, and Phillips Academy in Andover, Massachusetts.

Eddy currently serves as a member of the Board of Directors and Executive Committee of the National Retail Federation.

Eddy served retail and consumer products companies as a member of the audit and business advisory practice of PricewaterhouseCoopers LLP.

In addition to his role at BJ’s, Mr.

Eddy currently serves as a member of the board of directors of DICK’s Sporting Goods, Inc (NYSE:

He also serves as a member of the board of directors and executive committee of the National Retail Federation and the Boston Children’s Hospital Trust.

From 2013 to 2017, Mr.

Eddy chaired the Financial Executives Council of the National Retail Federation.

He is also a member of the Board of Trustees of The Boston Children's Hospital and is a member of the College Advisory Board for Babson College.

He is also a member of the college advisory board for Babson College.

Eddy is a graduate of Babson College and attended Phillips Academy in Andover, Massachusetts as well.

Felice 42 Laura L.

Felice has served as our Executive Vice President, Chief Financial Officer since April 2021.

Felice has served as BJ’s executive vice president, chief financial officer since April 2021.

From November 2016 to April 2021, Ms.

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Before joining BJ’s, Ms.

Felice worked at Clarks Americas, Inc., a British shoe manufacturer and retailer, and held positions of increasing responsibility since 2008.

She served most recently as Senior Vice President of Finance from November 2015 to November 2016, where she led all aspects of commercial finance for the Americas region distribution channels.

Felice worked at Clarks Americas, Inc., a British shoe manufacturer and retailer, from 2008 to 2016 in various roles of increasing responsibility, including serving as the senior vice president of finance from November 2015 to November 2016.

In that role, she led all aspects of commercial finance for the Americas region distribution channels.

Additionally, Ms.

Felice worked at PricewaterhouseCoopers LLP, a multinational professional services firm from 2003 to 2008.

Felice worked at PricewaterhouseCoopers LLP, serving retail and consumer product companies from 2003 to 2008.

She is a certified public accountant and currently serves as a board member, vice chair and finance committee chair for the Massachusetts Society of CPAs.

Felice also currently serves a a Board member of Broadstone Net Lease, LLC (NYSE:

She holds a Master of Accounting and a bachelor’s degree with a double major in Finance and Accounting from Boston College.

Paul Cichocki 53 Paul Cichocki has served as our Executive Vice President, Chief Commercial Officer since April 2021 and oversees merchandising, membership, marketing and analytics.

Felice also currently serves as a board member of Broadstone Net Lease, LLC (NYSE:

She holds a master’s degree of accounting and a bachelor’s degree with a double major in finance and accounting from Boston College.

Paul Cichocki 54 Paul Cichocki has served as BJ’s executive vice president, chief commercial officer since April 2021 and oversees merchandising, membership, marketing and analytics.

From April 2020 to April 2021, Mr.

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Prior to joining BJ’s, Mr.

Cichocki most recently served as Partner at Bain & Company, a management consulting firm, from 2005 to April 2020, where he led Bain’s scale consulting delivery capabilities and was responsible for integrating and coordinating Bain’s consulting support and delivery organizations globally.

He initially joined Bain & Company in 1997 as a consultant and spent more than 20 years serving clients across a range of industries, including retail, consumer products, financial services and food and beverage.

Cichocki was also a member of Bain & Company’s Global Operating Committee from 2017 to 2020 and Investment Committee from 2019 to 2020.

Cichocki worked at Bain & Company, a management consulting firm, from 1997 to April 2020 where he spent over 20 years supporting clients across a broad range of industries, including retail, consumer products, financial services and food and beverage.

Prior to Bain & Company, Mr.

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Jeff Desroches 46 Jeff Desroches joined BJ's in 2001 and has served as our executive vice president, chief operations officer since April 2018.

As Executive Vice President, Chief Operations Officer, Mr.

Desroches leads all operations, Club Team Members, Regional Field Staff, and policies and procedures at all the Company’s clubs and fuel stations as well as omni fulfillment, supply chain and asset protection.

Prior to that, Mr.

Desroches held several positions at BJ's, including Regional Asset Protection Manager for the Metro New York market from 2001 to 2007, Vice President of Asset Protection from 2007 to 2010 and Senior Vice President of Supply Chain from 2010 until his promotion to his current role in April 2018.

In his role, Mr.

Desroches leads all operations, club team members, regional field staff, and has oversight of policies and procedures at all the Company’s clubs and fuel stations as well as omni fulfillment, supply chain and asset protection.

During his tenure at BJ’s, Mr.

Desroches has served as regional asset protection manager, vice president of asset protection and senior vice president of supply chain.

Prior to BJ’s, Mr.

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He holds a bachelor’s degree in criminal justice and law enforcement administration from American Intercontinental University.

Scott Kessler 56 Scott Kessler has served as our Executive Vice President, Chief Information Officer since May 2017 and is responsible for information technology, including ensuring that the Company has the technology, systems and people in place to support the Company’s transformation.

Prior to joining the Company, he was Executive Vice President, Chief Information Officer at Belk, Inc., a department store chain, from 2014 to October 2016, where he led efforts to strengthen the information technology systems, improve system operations and further define the omnichannel roadmap.

Prior to that, Mr.

Kessler was Senior Vice President, Products Technology at GSI Commerce, Inc., a technology and services company, from 2004 to 2013.

Kessler holds a Master of Business Administration and a bachelor’s degree from Fairleigh Dickinson University.

Anjana Harve 51 Anjana Harve is executive vice president, chief information officer of the Company.

Harve was named to this position in September 2023 and is responsible for the strategic leadership and direction of the Company’s information technology organization.

Prior to joining BJ’s, from January 2021 to April 2023, she served as global chief information officer at Fresenius Medical Care, the world’s leading provider of products and services for individuals with renal diseases, where she led information technology, privacy assurance, cyber, digital and data security across key business units.

She also held the position of North America chief information officer at Fresenius from March 2020 to January 2021.

From October 2018 to March 2020, she served as chief information officer at Hill-Rom, a medical technology provider.

Prior to these positions, Mr.

Harve also held various technology and other senior management positions during her career, including at Novartis, a Swiss multinational pharmaceutical corporation, and Shire, also a multinational pharmaceutical corporation.

Harve holds a bachelor’s degree in computer science engineering from Bangalore University in India and a master of business administration from the Wharton School at University of Pennsylvania.

Luce 54 Graham N.

Luce currently serves as our Executive Vice President, General Counsel and Secretary and provides senior management with strategic advice on Company initiatives, complex business transactions and litigation, as well as counsel on all corporate governance-related matters.

Luce has served BJ’s executive vice president, general counsel and secretary since March 2023.

He provides senior management with strategic advice on company initiatives, complex business transactions and litigation as well as counsel on all corporate governance-related matters.

He joined the Company in April 2015 as senior vice president, general counsel and secretary and served in that role until March 2023.

Prior to jointing the Company, Mr.

Luce worked at Bain & Company, a management consulting firm, from 2000 to April 2015 and Goodwin Procter LLP, a global law firm, from 1995 to 2000.

Prior to joining the Company, Mr.

Luce worked at Bain & Company, a management consulting firm, from 2000 to 2015 and Goodwin Procter LLP, a global law firm, from 1995 to 2000.

He holds a juris doctor from Boston University School of Law and bachelor’s degrees in political science and electrical engineering from Tufts University.

Monica Schwartz 48 Monica Schwartz has served as our Executive Vice President, Chief Digital Officer since October 2021 and is responsible for driving the Company’s vision and strategy for its e-commerce and omnichannel efforts.

Monica Schwartz 49 Monica Schwartz has served as BJ’s executive vice president, chief digital officer since October 2021 and is responsible for driving the Company’s vision and strategy for its e-commerce and omnichannel efforts.

She joined the Company in August 2020 and previously served as our senior vice president, chief digital officer from August 2020 to October 2021.

Schwartz most recently served as Vice President, Online Merchandising at The Home Depot, Inc., a home improvement retailer, from December 2017 to September 2019 and was responsible for the e-commerce site and driving innovation.

Schwartz most recently served as vice president, online merchandising at The Home Depot, Inc., a home improvement retailer, from December 2017 to September 2019 and was responsible for its e-commerce site and driving innovation.

Prior to that, she served as the executive vice president of digital at Nine West Group, a fashion retailer, from 2015 to 2017.

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Werner 46 William C.

Werner has served as our Executive Vice President, Strategy and Development since April 2021 and is responsible for building the Company’s market expansion and key strategic initiatives.

Previously, Mr.

Werner served as our Senior Vice President, Strategic Planning and Investor Relations from November 2016 to April 2021, Senior Vice President, Finance from 2013 to November 2016 and as our Vice President, Accounting and Financial Reporting from 2012 to 2013.

Prior to joining the Company, Mr.

Werner has served as BJ’s executive vice president, strategy and development since April 2021 and is responsible for building the Company’s market expansion and key strategic initiatives.

Werner served in several other roles throughout his tenure at BJ’s, including as senior vice president, strategic planning and investor relations from November 2016 to April 2021, senior vice president, finance from 2013 to November 2016 and as the Company’s vice president, accounting and financial reporting from 2012 to 2013.

Prior to joining BJ’s, Mr.

Werner was a director in the deals practice at PricewaterhouseCoopers LLP, a multinational professional services firm, from 2007 to 2012.

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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business