What changed in this filing

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Item 1. Business

2026-03-12 compared with 2025-03-14 · 88 added, 98 removed, 186 unchanged (50% of the section changed)

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Since pioneering the warehouse club model in New England in 1984, we have grown our footprint to 263 large-format, high volume warehouse clubs and 199 gas stations spanning 21 states as of fiscal year end 2025.

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

gross domestic product (“GDP”), we operate nearly 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 delivery or traditional ship-to-home service, as well as through the DoorDash and Instacart marketplaces.

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.

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

Additionally, members may use ExpressPay® to skip checkout lines when they shop in club and pay via their mobile devices.

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

We have over 8 million members paying annual fees to gain access to savings on groceries, general merchandise, services, and gasoline.

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.

Effective January 1, 2025, the Club Card membership fee increased to $60 per year and the Club+ membership fee increased to $120 per year.

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.

The annual membership fee for our Club membership is generally $60 and the annual membership fee for our Club+ membership, which offers additional value-enhancing features, is generally $120.

Prior to January 1, 2025, the Club and Club+ membership fees were $55 and $110 per year, respectively.

We believe that members can save over ten times their $60 Club 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.

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Our membership fee income was $499.8 million for fiscal year 2025.

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 .

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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In order to achieve high sales volumes and rapid inventory turnover, merchandise selections are generally limited to items that are brand name leaders in their categories, alongside an assortment of private label brands.

Since warehouse clubs sell a diversified selection of product categories, they attract customers from a wide range of other wholesale and retail distribution channels, such as supermarkets, supercenters, internet retailers, gasoline stations, hard discounters, department and specialty stores, and operators selling a narrow range of merchandise.

These higher cost distribution channels have traditionally been unable to match the low prices offered by warehouse clubs over long periods of time.

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.

Since warehouse clubs sell a diversified selection of product categories, they attract customers from a wide range of other wholesale and retail distribution channels, such as supermarkets, supercenters, online retailers, gasoline stations, hard discounters, department and specialty stores, and operators selling a single category or narrow range of merchandise.

Traditionally, these higher cost distribution channels have been unable to match the value proposition offered by warehouse clubs over extended periods of time.

Warehouse clubs eliminate, or significantly reduce, many of the merchandise handling costs associated with traditional multiple-step distribution channels, such as distributors’ commissions and the cost of storing merchandise in central distribution facilities, by purchasing large quantities of merchandise directly from manufacturers and storing merchandise on the sales floor.

The operation of no-frills, self-service warehouse facilities creates freight volume and handling efficiencies, allowing for operating costs which are 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.

As a result, a greater percentage of the inventory is financed through vendor payment terms than by working capital.

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.

As a result, much of the inventory is financed through vendor payment terms rather than working capital.

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.

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

As of February 1, 2025, we operated 250 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 fourteen acres.

As of January 31, 2026, we operated 263 clubs ranging in size from 44,000 square feet to 177,000 square feet.

We aim to build our large format clubs in locations with high density and high traffic, which are visible to and convenient for our members.

We design our smaller format clubs to serve markets with a population that is likely insufficient to support a large format club, or in locations where there is inadequate real estate space for a large format club, such as urban areas.

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

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

Our ability to achieve profitable operations depends upon high sales volumes and the efficient operation of our warehouse clubs.

We buy most of our merchandise directly from manufacturers and route it to cross-docking consolidation points (distribution centers) or directly to our clubs.

We procure most of our merchandise directly from manufacturers and route it to distribution centers or directly to our clubs.

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, 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.

Merchandise for sale is generally displayed on pallets containing large quantities of each item, thereby reducing labor required for handling, stocking and restocking.

Merchandise for sale is generally displayed on pallets containing large quantities of each item, thereby reducing the labor required for handling, stocking, and restocking.

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

A summary of our club locations by state as of February 1, 2025 is set forth in the table below:

A summary of our club locations by state as of January 31, 2026 is set forth in the table below:

Market Club Count

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South Carolina 3

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, and are our only reportable segment.

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 .

Our operations are primarily retail club and other sales procured from clubs and distribution centers, representing one operating segment.

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

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

Merchandising

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.

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

We work closely with manufacturers to develop packaging and sizes that are best suited for selling through the warehouse club format in order to minimize handling costs and ensure value to our members.

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 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.

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

closely with manufacturers to develop packaging and sizes that are best suited for selling through the warehouse club format in order to minimize handling costs and ensure value to our members.

We group our merchandise offerings into two divisions:

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• 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.

consists of our meat, produce, dairy, bakery, deli and frozen products, packaged foods, beverages, household goods and household cleaning products, beauty care, adult and baby care and pet foods, which constituted approximately 87% of our merchandise sales for fiscal year 2025.

• General merchandise and services:

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BJ’s consumer-focused private label products, sold under Wellsley Farms ® and Berkley Jensen ® brands, comprised approximately 27% of our total net sales, excluding gasoline, in fiscal year 2025.

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 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.

Many of these services are provided by outside operators under license from us.

These products are generally premium quality, and priced below the brand name comparable product.

We balance our focus on promoting a group of core private label products that yield higher margins and compete with national brands with large market share, while also offering differentiated products that drive member loyalty.

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

Many of these services are provided by outside operators under a license arranged by BJ’s.

Specialty services include full-service optical centers;

tire installation services;

a propane tank filling service;

propane tank filling service;

home improvement services;

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and product protection plans.

As of February 1, 2025, we had 186 gasoline stations in operation at or near our clubs.

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.

As of January 31, 2026, we had 199 gasoline stations in operation at or near our clubs.

The gas stations are primarily self-service.

We generally maintain our gas prices below the average retail price in each respective market as a means of illustrating a favorable price image to existing and prospective members.

Digital Offerings

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.

We have made it easier for members to purchase, review products, digitally add coupons to their membership card, and view annual membership savings.

BJs.com showcases our club assortment available to members along with product review ratings and coupons for added savings.

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.

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.

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

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.

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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 7.5 million paid memberships as of February 1, 2025.

We have a large base of more than 8 million paid memberships as of January 31, 2026.

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.

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.

Through December 31, 2024, we generally charged $55 per year for a primary Club Card membership that included one additional card for a

household member, which increased to $60 per year, effective January 1, 2025.

Primary members could purchase up to three supplemental memberships for $35 each.

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.

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.

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.

We also offer our 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, 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.

We offer Club and Club+ memberships to both individuals and businesses, which allow customers to shop in the Company’s clubs, on bjs.com, in the BJ’s mobile app, and to purchase gasoline at our gas stations for the duration of the membership, which is generally 12 months.

In addition, members have access to other ancillary services, coupons, and promotions.

The annual membership fee for our Club membership is generally $60 and the annual membership fee for our Club+ membership, which offers additional value-enhancing features, is generally $120.

Prior to January 1, 2025, the Club and Club+ membership fees were $55 and $110 per year, respectively.

The Club and Club+ memberships include one free supplemental membership, and allow members to purchase up to three additional supplemental memberships for $35 each.

Business members may purchase up to eight additional supplemental memberships for $35 each.

Additionally, U.S.

military personnel, first responders, educators, and certain other individuals making a difference in our communities may enroll at a BJ’s club location for a reduced membership fee.

The Club+ program, which is our higher tier membership, allows participating members to earn 2% cash back, up to a maximum of $500 per year, on qualified purchases made in BJ’s clubs, on bjs.com, or in the BJ’s mobile app, a 5-cent per gallon discount at BJ’s gas locations, and two free same-day deliveries.

We also offer our co-branded credit card program, known as the BJ's One and BJ's One+ program, which allows cardholders the opportunity to earn up to 5% cash back on purchases made in BJ’s clubs, on bjs.com, or in the BJ’s mobile app, 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.

BJ’s One+ Mastercard cardholders also receive two free same-day deliveries if such benefit has not already been received under the Club+ program.

In fiscal year 2025, Club+ members and co-branded Mastercard ® members accounted for 42% of members and 52% of merchandise spend (excluding gas and membership fee income), compared to 39% of members and 50% of merchandise spend (excluding gas and membership fee income) in fiscal year 2024.

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These methods result in lower marketing expenses compared to typical retailers.

We compete with a wide range of national, regional and local retailers and wholesalers selling food and/or general merchandise in our markets, including supermarkets, supercenters, general merchandise chains, specialty chains, gasoline stations and other warehouse clubs, some of which have significantly greater financial and marketing resources than BJ’s.

We compete with a wide range of national, regional and local retailers and wholesalers selling food and/or general merchandise in our markets, including supermarkets, supercenters, online retailers, general merchandise chains, specialty chains, gasoline stations and other warehouse clubs, some of which have significantly greater financial and marketing resources than BJ’s.

Major competitors that operate warehouse clubs include Costco Wholesale Corporation and Sam’s Clubs (a division of Wal-Mart Stores, Inc.), both of which operate on a multi-national basis.

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Other competitive factors include club location, merchandise selection, member services, and name recognition.

We believe our efficient, low-cost form of distribution gives us a significant competitive advantage over more traditional channels of retail distribution.

We believe our efficient, low-cost form of distribution gives us a significant competitive advantage over more traditional channels of retail distribution and provides a worthwhile value proposition to our members.

Intellectual Property

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We have invested significantly in the development and protection of our well-recognized brands, including our private label brands, Wellsley Farms ® and Berkley Jensen ® .

We believe that products sold under our private label brands are high quality, offered to our members at prices that are generally lower than those for comparable national brand products and help lower costs, differentiate our merchandise offerings from other retailers, and generally earn higher margins.

We believe that products sold under our private label brands are high quality, offered to our members at prices that are generally lower than those for comparable national brand products, differentiate our merchandise offerings from other retailers, and generally earn higher margins.

We expect to continue to increase the sales penetration of our private label items.

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Compliance with various governmental regulations has an impact on our business, including our capital expenditures, earnings, and competitive position, which can be material.

We incur costs to monitor, and take actions to comply with, governmental regulations that are applicable to our business, which include, among others, federal securities laws and regulations, applicable to exchange requirements, labor and employment laws, laws governing truth-in-advertising, privacy laws, environmental laws, safety regulations and other laws, including consumer protection regulations that regulate retailers and govern the promotion and sale of merchandise and the operation of clubs, warehouses and Company-operated and contracted distribution center facilities.

Our clubs are also subject to various local, state and federal laws, regulations and administrative practices affecting our business.

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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.

Department of Agriculture (the “USDA”), the Consumer Product

Safety Commission (the “CPSC”) and the Environmental Protection Agency (the “EPA”).

We rely on contractual provisions to ensure compliance by our vendors.

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The FDA has comprehensive authority to regulate the safety of food and food ingredients (other than meat, poultry, catfish and certain egg products), as well as dietary supplements under the Federal Food, Drug, and Cosmetic Act (the “FDCA”).

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, 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.

This authority applies to all domestic food facilities and, by way of imported food supplier verification requirements, to all foreign facilities that supply food products.

Similarly, the USDA’s Food Safety Inspection Service similarly serves as 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 properly labeled and packaged under the Federal Meat Inspection Act and the Poultry Products Inspection Act.

Amendments to the FDCA significantly expanded the FDA’s regulatory oversight across the food supply chain, including requirements for risk-based preventive controls applicable to most food producers.

This authority extends to all domestic food facilities and, through imported food supplier verification requirements, to foreign facilities that supply food products to the United States.

The FDA also exercises broad jurisdiction over the labeling and promotion of food.

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Dietary Supplements

The FDA has comprehensive authority to regulate the safety of dietary supplements, dietary ingredients, labeling and current good manufacturing practices.

Congress amended the FDCA in 1994 through passage of the Dietary Supplement Health and Education Act (the "DSHEA"), which greatly expanded the FDA’s regulatory authority over dietary supplements.

Through DSHEA, dietary supplements became their own regulated commodity while also allowing structure/function claims on products.

However, no statement on a dietary supplement may expressly or implicitly represent that it will diagnose, cure, mitigate, treat or prevent a disease.

The FDA has comprehensive authority to regulate the safety of dietary supplements and dietary ingredients, including labeling and current good manufacturing practices, under the FDCA.

Amendments to the FDCA established dietary supplements as a distinct category of regulated products and define the scope of permissible claims.

While dietary supplements may bear structure/function claims, no statement may expressly or implicitly represent that a dietary supplement will diagnose, cure, mitigate, treat, or prevent a disease.

Food and Dietary Supplement Advertising

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We monitor changes in these laws and believe that we are in material compliance with applicable laws.

Our business is moderately seasonal in nature.

Historically, our business has generally realized a slightly higher portion of net sales, operating income, and cash flows from operations in the second and fourth fiscal quarters, attributable primarily to the impact of the summer and year-end holiday season, respectively.

Our business is subject to some seasonality.

Historically, our business has generally realized a slightly higher portion of net sales and cash flows from operations in the second and fourth fiscal quarters, attributable primarily to the impact of the summer and year-end holiday season, respectively.

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 February 1, 2025, we had over 33,000 full-time and part-time employees, whom we refer to as team members.

As of January 31, 2026, we had over 35,000 full-time and part-time employees, whom we refer to as team members.

We also utilize seasonal employees given the nature of the retail business.

None of our team members are represented by a union.

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was incorporated on February 23, 2018.

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

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.

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").

We are a publicly traded entity listed 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.

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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Information About our Executive Officers

The following are the executive officers of BJ’s Wholesale Club as of March 14, 2025:

The executive officers of BJ’s Wholesale Club are as follows as of March 12, 2026:

Name Age Office and Business Experience

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Before joining BJ’s, Ms.

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.

Felice worked at Clarks Americas, Inc., a British shoe manufacturer and retailer from 2008 to 2016.

Additionally, Ms.

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:

She is a certified public accountant and currently serves as a board member for the Massachusetts Society of CPAs and as a board member of Broadstone Net Lease, LLC (NYSE:

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.

Paul Cichocki 55 Paul Cichocki has served as BJ’s executive vice president, chief commercial officer since April 2021 and oversees merchandising, membership, marketing and analytics.

Paul Cichocki 56 Paul Cichocki has served as BJ’s executive vice president, chief commercial officer since April 2021 and oversees the merchandising and business-to-business organizations.

From April 2020 to April 2021, 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.

Anjana Harve 52 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, 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.

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.

Luce 56 Graham N.

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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.

Timothy Morningstar 50 Timothy Morningstar is executive vice president, chief growth officer of the company.

In this role, Mr.

Morningstar manages the membership acquisition, retention and loyalty functions, as well as the marketing and analytics functions at the company.

He joined the company in 2020 as senior vice president, membership and loyalty and served as chief membership officer from 2021 to December 2025.

Prior to joining BJ’s, Mr.

Morningstar was a senior partner in the Boston office of Bain & Company, having been with the firm since 2002.

While at Bain, he worked primarily in the consumer packaged goods and retail industries, and also led projects on corporate and private equity mergers and acquisitions and post-merger integrations.

Morningstar earned a master of business administration with honors from Columbia Business School.

He holds a bachelor’s degree with honors in government from Harvard University.

Scott Schmadeke 49 Scott Schmadeke is executive vice president, chief operations officer of the company.

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Schmadeke held several key operations leadership positions in the retail and grocery industry, including roles at Albertson’s Companies and Safeway, Inc.

Schmadeke has served on the board of directors for the New England Center for Children since September 2025.

He holds a bachelor of science in business administration and management from the University of Phoenix.

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.

Monica Schwartz 51 Monica Schwartz serves as BJ’s executive vice president, chief information and digital officer, 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.

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From 2012 to 2014, she served as executive director, e-commerce at David Yurman Enterprises, LLC, a jewelry design company.

Prior to that, she held positions of increasing responsibility at E-bay, Inc., an e-commerce corporation, from 2007 to 2012.

Prior to that, she held positions of increasing responsibility at eBay, Inc., an e-commerce corporation, from 2007 to 2012.

From 2005 to 2007, she held positions with Countrywide Financial Corporation, a financial services company, and from 1998 to 2001 she held positions with MediaHippo, an interactive media agency.

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Werner 48 William C.

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 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 as well as managing the Company’s retail fuel business.

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.

3 unchanged sentences

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