−Removed: We operated 250 warehouse club locations as of February 1, 2025, of which 207 are leased under long-term leases and 22 are owned.
+Added: We operated 263 warehouse club locations as of January 31, 2026, of which 210 are leased under long-term leases and 30 are owned.
We own the buildings at the remaining 23 locations, which are subject to long-term ground leases.
3 unchanged sentences
Many of the leases require escalating payments during the lease term.
−Removed: Rent expense for such leases is recognized on a straight-line basis over the lease term.
−Removed: The initial primary term of the Company’s operating leases for properties ranges from 2 to 44 years, with most of these leases having an initial primary term of approximately 20 years.
+Added: The initial primary term of the Company’s operating leases for properties ranges from 2 years to 44 years, with most of these leases having an initial primary term of approximately 20 years.
The initial primary term of the Company’s finance leases for properties is 20 years.
−Removed: We transitioned to a new home office in Marlborough, Massachusetts in fiscal year 2022.
−Removed: The home office, which is referred to as our "Club Support Center" occupies a total of 188,000 square feet.
−Removed: The lease expires on August 31, 2042.
+Added: Our home office, located in Marlborough, Massachusetts, is referred to as our “Club Support Center” and occupies a total of 188,000 square feet.
+Added: The lease expires in 2042.
We operate three cross-dock distribution centers for non-perishable items and also have four perishable item distribution centers.
Our cross-dock distribution centers for non-perishable items are leased under lease agreements expiring between 2031 and 2033, and range between 480,000 and 630,000 square feet in size.
−Removed: One of the perishable distribution centers is leased under
−Removed: an lease agreement expiring October 31, 2028 and the remaining three facilities are owned.
+Added: One of the perishable distribution centers is leased under a lease agreement expiring in 2028 and the remaining three facilities are owned.
The perishable distribution centers range between 114,000 and 252,000 square feet in size.
−Removed: We operate another cross-dock distribution center primarily for business-to-business transactions, which occupies a total of approximately 100,000 square feet.
−Removed: Our lease agreement for this center expires in 2029.
−Removed: On January 28, 2025, we announced plans to build our fourth ambient distribution center, which will be located in Ohio.
+Added: The Company is constructing our fourth non-perishable distribution center, which will be located in Ohio.
The new facility is expected to open in 2027.
The new distribution center will expand our supply chain capacity and support our growing footprint.
+Added: We operate another cross-dock distribution center primarily for business-to-business transactions, which occupies a total of approximately 100,000 square feet.
+Added: Our lease agreement for this center expires in 2029.
See “ Note 6 .
1 unchanged sentence
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.