−Removed: BJ’s Wholesale Club is a leading operator of membership warehouse clubs concentrated primarily on the eastern half of the United States.
−Removed: 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 .
−Removed: 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.
+Added: BJ’s Wholesale Club is a leading operator of membership warehouse clubs concentrated primarily in the eastern half of the United States.
+Added: We deliver significant value to our members, consistently offering up to 25% savings on a representative basket of manufacturer-branded groceries compared to traditional supermarket competitors.
+Added: We provide a curated assortment focused on groceries, fresh foods, general merchandise, gasoline, and other ancillary services to deliver a differentiated shopping experience that is further enhanced by our digital capabilities.
+Added: Additionally, we provide access to coupons and promotions to deliver further value to our members.
Since pioneering the warehouse club model in New England in 1984, we have grown our footprint to 250 large-format, high volume warehouse clubs and 186 gas stations spanning 21 states as of fiscal year end 2024.
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gross domestic product ("GDP"), we operate more than three times the number of clubs compared to the next largest warehouse club competitor.
−Removed: 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 the same preferential pricing as in-club shoppers by linking their membership.
−Removed: 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.
+Added: 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 delivery or traditional ship-to-home service, as well as through the DoorDash and Instacart marketplaces.
+Added: 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 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.
−Removed: We have over 7 million members paying annual fees to gain access to savings on groceries and general merchandise and services.
−Removed: 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.
+Added: We have over 7.5 million members paying annual fees to gain access to savings on groceries, general merchandise, services, and gasoline.
+Added: Through December 31, 2024, the annual membership fee for our Club Card membership was generally $55, and the annual membership fee for our Club+ membership, which offers additional value-enhancing features, was generally $110.
+Added: Effective January 1, 2025, the Club Card membership fee increased to $60 per year and the Club+ membership fee increased to $120 per year.
+Added: We believe that these membership fee increases will allow us to invest in an even stronger value proposition for our growing member base.
We believe that members can save over ten times their $60 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.
−Removed: Our two private label brands, Wellsley Farms ® and Berkley Jensen ® , represent approximately $4.1 billion in annual sales.
+Added: Our two private label brands, Wellsley Farms ® and Berkley Jensen ® , represent approximately 26% of our total net sales, excluding gasoline.
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 was $456.5 million for fiscal year 2024.
−Removed: 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.
+Added: On May 2, 2022, we completed our acquisition of the assets and operations of four distribution centers and the related private transportation fleet from Burris Logistics (the "Acquisition"), to bring substantially all of the end-to-end perishable supply chain in-house.
See " Note 20 .
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As a result, a greater percentage of the inventory is financed through vendor payment terms than by working capital.
−Removed: Two broad groups of customers, individual households and small businesses, have been attracted to the savings made possible by the high sales volumes and operating efficiencies achieved by warehouse clubs.
+Added: Two broad groups of customers, individual households and small businesses, have been attracted to the savings
+Added: made possible by the high sales volumes and operating efficiencies achieved by warehouse clubs.
Customers at warehouse clubs are generally limited to members who pay an annual fee.
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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.
−Removed: We limit the items offered in each product line to fast selling styles,
−Removed: sizes and colors, carrying approximately 7,000 core active stock keeping units ("SKUs").
+Added: 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.
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We group our merchandise offerings into two divisions:
−Removed: grocery and general merchandise and services.
+Added: perishables, grocery and sundries, and general merchandise and services.
+Added: • Perishables, grocery, and sundries:
consists of our meat, produce, dairy, bakery, deli and frozen products, packaged foods, beverages, detergents, disinfectants, paper products, beauty care, adult and baby care and pet foods, which constituted approximately 87% of our merchandise sales for fiscal year 2024.
• General merchandise and services:
−Removed: 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.
+Added: consists of electronics, apparel, seasonal goods, small appliances, televisions, furniture, optical, tires, third-party gift cards, and other revenues, which constituted approximately 13% of our merchandise sales for fiscal year 2024.
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 2024.
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As of February 1, 2025, we had 186 gasoline stations in operation at or near our clubs.
−Removed: The gas stations are generally self-service, with some locations accepting cash.
+Added: The gas stations are generally self-service.
We generally maintain our gas prices below the average retail prices in each market as a means of illustrating a favorable price image to existing and prospective members.
−Removed: Omnichannel Offerings
−Removed: We have built a robust omnichannel portfolio which consists of BJs.com, BerkleyJensen.com, Wellsleyfarms.com, as well as the BJ’s mobile app.
+Added: Digital Offerings
+Added: We have built a robust digital portfolio which includes BJs.com and the BJ’s mobile app.
We have made it easier for members to purchase, review products, digitally add coupons to their membership card and view annual member savings.
BJs.com showcases our club assortment available to members along with review ratings and coupons for added savings.
−Removed: The above omnichannel portfolio offers our members convenient ways to shop, including our BOPIC service, curbside delivery, same-day home delivery or traditional ship-to-home service.
+Added: The above digital portfolio offers our members convenient ways to shop, including our BOPIC service, curbside delivery, same-day delivery or traditional ship-to-home service.
Our app delivers personalized promotions, improved shopping experiences, and an efficient gateway to our fulfillment options.
−Removed: 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.
−Removed: In the fourth quarter of fiscal year 2022, we announced the launch of our retail media program, BJ’s Media Edge™.
−Removed: The program offers brands a comprehensive advertising solution to connect with BJ’s members.
+Added: Our members appreciate the convenience of the BJ’s mobile app, as evidenced by millions of downloads since fiscal year 2019, as well as the usage of ExpressPay®, which allows members to skip checkout lines when they shop in club by paying with their phones.
+Added: BJ’s Media Edge™, which launched in fiscal year 2022, is our retail media program that offers brands a comprehensive advertising solution to connect with BJ’s members.
Paid membership is an essential element of the warehouse club concept.
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the Club Card (formerly Inner Circle®) memberships and business memberships.
−Removed: We generally charged $55 per year for a primary Club Card membership that included one additional card for a household member.
+Added: Through December 31, 2024, we generally charged $55 per year for a primary Club Card membership that included one additional card for a
+Added: household member, which increased to $60 per year, effective January 1, 2025.
Primary members could purchase up to three supplemental memberships for $35 each.
−Removed: A primary business membership typically cost $55 per year and included one free supplemental membership.
+Added: A primary business membership typically costs $60 per year, representing an increase from $55 as of January 1, 2025, and includes one free supplemental membership.
Business members could purchase up to eight additional supplemental business memberships at $35 each.
military personnel—active and veteran—who enrolled at a BJ’s club location could do so for a reduced membership fee.
−Removed: 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.
−Removed: The annual fee for a Club+ membership is generally $110 per year.
−Removed: We also launched our new BJ's One™ and BJ's One+™ Mastercard® credit cards (formerly the My BJ’s Perks® program).
−Removed: 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.
−Removed: Since fiscal year 2014, we have grown co-branded Mastercard® holders by over 1000%.
+Added: 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, a 5-cent per gallon discount on gasoline, and effective January 1, 2025, two free same-day deliveries.
+Added: Through December 31, 2024, the annual fee for a Club+ membership was generally $110 per year, which increased to $120 per year, effective January 1, 2025.
+Added: We also offer our BJ's One™ and BJ's One+™ Mastercard® credit cards (formerly the My BJ’s Perks® program).
+Added: 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, 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, and effective January 1, 2025, two free same-day deliveries if such benefit has not already been received under the Club+ program.
In fiscal year 2024, Club+ members and co-branded Mastercard® members accounted for 39% of members and 50% of merchandise spend (excluding gas and membership fee income), compared to 38% of members and 49% of merchandise spend (excluding gas and membership fee income) in fiscal year 2023.
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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.
−Removed: As a result of these factors, our
−Removed: 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.
+Added: 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
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We consider our relations with our team members to be good.
+Added: We are driven by a powerful purpose:
+Added: we take care of the families who depend on us.
+Added: For our team members, this means creating career opportunities at every level of our company.
+Added: Our team members include those starting out their careers, those re-entering the work force and part-time workers as well as managers and executives.
+Added: Many of our leaders started out as part-time team members in our clubs and distribution centers.
+Added: Our approach to creating opportunities has enabled us to build a world-class team that is committed to serving our members and making a positive difference in our communities.
Team Member Engagement .
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Results of the survey are measured and analyzed to enhance the team member experience, promote retention of team members, drive change, and leverage the overall success of our Company.
−Removed: We strive to foster a work environment that includes and embraces diversity of background and perspective, including, but not limited to, with respect to age, gender, race, place of residence and specialized experience.
−Removed: As of the end of fiscal year 2023, 43% of our total workforce were women and 53% were minorities.
−Removed: During fiscal year 2023, 40% of our new hires were women and 62% of our new hires were minorities.
−Removed: We have a zero-tolerance policy on discrimination and harassment and have several systems under which team members can report incidents confidentially or anonymously and without fear of reprisal.
−Removed: We have an Inclusion & Diversity Council which is comprised of a cross-functional team representing diversity of backgrounds, ethnicity, gender, and self-identification.
−Removed: This council is responsible for identifying and driving actions and initiatives to advance the Company’s inclusion and diversity mission.
Total Rewards .
We believe our team members are the key to our success and we offer competitive programs to meet the needs of our colleagues and their families.
−Removed: Our programs include annual bonuses, 401(k) plans, stock awards, an employee stock purchase plan, paid time off, flexible work schedules, family leave, team member assistance programs, and more, based on eligibility criteria.
+Added: Our programs include annual bonuses, 401(k) plans, stock awards, an employee stock purchase plan, non-qualified deferred compensation plan, paid time off, flexible work schedules, family leave, team member assistance programs, and more, based on eligibility criteria.
We take the health and wellness of our team members seriously.
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We have a long and proud history of investing in the communities where we live and work.
−Removed: BJ’s Charitable Foundation (the "Foundation") was established with the mission to enrich every community we serve.
−Removed: The Foundation supports nonprofit organizations that primarily benefit the underprivileged in the areas of hunger prevention and education.
+Added: BJ’s Charitable Foundation (the "Foundation") was established with the mission to enrich the communities we serve.
+Added: The Foundation supports nonprofit organizations that primarily benefit the underprivileged in the areas of hunger prevention, education, and health and wellness.
Throughout the year, the Foundation makes multiple direct donations from the Company to support food banks and pantry programs in communities that our clubs serve.
+Added: Since its inception in 2004, the BJ's Charitable Foundation has awarded over $37.0 million to non-profit organizations and schools, providing vital support in BJ's communities.
Corporate Information
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On July 2, 2018, BJ’s Wholesale Club Holdings, Inc.
−Removed: became a publicly traded entity in connection with its IPO and listing on the New York Stock Exchange ("NYSE") under the ticker symbol "BJ." Our principal operating subsidiary is BJ’s Wholesale Club, Inc., which is a wholly owned subsidiary of BJ's Wholesale Club Holdings.
−Removed: 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").
+Added: became a publicly traded entity in connection with its IPO and listing on the New York Stock Exchange ("NYSE") under the ticker symbol "BJ." Our principal operating subsidiary is BJ’s Wholesale Club, Inc., which is a wholly owned subsidiary of BJ's Wholesale Club Holdings, Inc.
+Added: 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
+Added: 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).
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Eddy 52 Robert W.
−Removed: Eddy is chairman and chief executive officer of the Company.
−Removed: He has served as president and chief executive officer of the Company since April 2021.
−Removed: He joined the Company's board as a director in April 2021 and was appointed chairman of the board in June 2023.
−Removed: 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.
+Added: Eddy is chairman of the board, president and chief executive officer of the company.
+Added: 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 joined the board of directors and became president and chief executive officer.
+Added: Eddy was named chairman of the board in June 2023.
Prior to joining BJ’s, Mr.
−Removed: Eddy served retail and consumer products companies as a member of the audit and business advisory practice of PricewaterhouseCoopers LLP.
−Removed: In addition to his role at BJ’s, Mr.
−Removed: Eddy currently serves as a member of the board of directors of DICK’s Sporting Goods, Inc (NYSE:
−Removed: 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.
+Added: 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.
+Added: Eddy is a graduate of Babson College in Wellesley, Massachusetts, and Phillips Academy in Andover, Massachusetts.
+Added: Eddy currently serves as chairman of the board of directors and executive committee of the National Retail Federation and as a member of the board of trustees of the Boston Children’s Hospital Trust.
+Added: In September 2023, he became a director of DICK’s Sporting Goods (NYSE:
From 2013 to 2017, Mr.
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He is also a member of the College Advisory Board for Babson College.
−Removed: Eddy is a graduate of Babson College and attended Phillips Academy in Andover, Massachusetts as well.
Felice 43 Laura L.
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Additionally, Ms.
−Removed: Felice worked at PricewaterhouseCoopers LLP, serving retail and consumer product companies from 2003 to 2008.
+Added: Felice worked at PricewaterhouseCoopers LLP, a multinational professional services firm 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 as a board member of Broadstone Net Lease, LLC (NYSE:
+Added: She also sits on the Board of Advisors for the Boston Ballet and is a board member of the National Retail Federation Foundation.
She holds a master’s degree of accounting and a bachelor’s degree with a double major in finance and accounting from Boston College.
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Prior to joining BJ’s, Mr.
−Removed: 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.
+Added: Cichocki most recently 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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He is also a graduate from the University of Massachusetts, where he received a bachelor’s degree in operations management with high honors.
−Removed: Jeff Desroches 46 Jeff Desroches joined BJ's in 2001 and has served as our executive vice president, chief operations officer since April 2018.
−Removed: In his role, Mr.
−Removed: 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.
−Removed: During his tenure at BJ’s, Mr.
−Removed: Desroches has served as regional asset protection manager, vice president of asset protection and senior vice president of supply chain.
−Removed: Prior to BJ’s, Mr.
−Removed: Desroches held various operational and warehousing roles at Service Merchandise Company, Inc., a retail chain, from 1993 to 2000 and Kmart Corporation, a discount department store chain, from 2000 to 2001.
−Removed: He holds a bachelor’s degree in criminal justice and law enforcement administration from American Intercontinental University.
Anjana Harve 52 Anjana Harve is executive vice president, chief information officer of the company.
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From October 2018 to March 2020, she served as chief information officer at Hill-Rom, a medical technology provider.
−Removed: Prior to these positions, Mr.
+Added: Prior to these positions, Ms.
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.
+Added: She also serves on the Supervisory Board of Wolters Kluwer, a global leader in professional information, software solutions and services.
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.
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He holds a juris doctor from Boston University School of Law and bachelor’s degrees in political science and electrical engineering from Tufts University.
−Removed: 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.
+Added: Scott Schmadeke 48 Scott Schmadeke is executive vice president, chief operations officer of the company.
+Added: He oversees club operations, supply chain and asset protection and safety for the company.
+Added: Schmadeke joined BJ’s in 2018 as senior vice president of operations.
+Added: Since then, he expanded his responsibilities to include leading field and fresh operations.
+Added: He played a pivotal role in the company’s acquisition and transition of its perishable distribution centers as well as the rollout of enhanced fresh offerings and new club openings.
+Added: Before joining BJ’s, Mr.
+Added: Schmadeke held several key operations leadership positions in the retail and grocery industry, including roles at Albertson’s Companies and Safeway, Inc.
+Added: He holds a bachelor of science in business administration and management from the University of Phoenix.
+Added: Monica Schwartz 50 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 digital 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.
−Removed: 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.
+Added: 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.
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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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.