MARLBOROUGH, MA - BJ’s Wholesale Club Holdings, Inc. announced its financial results for the thirteen weeks and thirty-nine weeks ended November 1, 2025.
“Our business continues to perform well in a volatile environment and we are maintaining an unwavering focus on what matters most: taking care of families who depend on us,” said Bob Eddy, Chairman and Chief Executive Officer, BJ’s Wholesale Club. “We are confident that we can be the destination for value and convenience, and we are entering the holiday season with momentum.”
Additional Highlights:
- Total comparable club sales increased by 1.1% and 0.8% in the third quarter and first nine months of fiscal 2025, respectively, compared to the same periods in fiscal 2024. Excluding the impact of gasoline sales, comparable club sales increased by 1.8% and 2.6% in the third quarter and first nine months of fiscal 2025, respectively, compared to the same periods in fiscal 2024.
- Membership fee income increased to $126.3 million in the third quarter of fiscal 2025 compared to $115.0 million in the third quarter of fiscal 2024. Membership fee income increased to $370.0 million in the first nine months of fiscal 2025 compared to $339.5 million in the first nine months of fiscal 2024. The increase in both comparative periods was primarily driven by strength in membership acquisition, retention and higher-tier membership penetration across both new and existing clubs, as well as the increase in annual membership fees which became effective in January 2025.
- Gross profit increased to $1.01 billion in the third quarter of fiscal 2025 compared to $975.5 million in the third quarter of fiscal 2024. Merchandise gross margin rate, which excludes gasoline sales and membership fee income, remained flat compared to the same quarter of fiscal 2024. Gross profit increased to $2.99 billion in the first nine months of fiscal 2025 compared to $2.82 billion in the first nine months of fiscal 2024. Merchandise gross margin rate increased by 10 basis points compared to the first nine months of fiscal 2024. The Company continues to manage the business to drive profitable growth across the broader merchandise assortment.
- Selling, general and administrative expenses (“SG&A”) increased to $788.2 million in the third quarter of fiscal 2025 compared to $733.6 million in the third quarter of fiscal 2024. SG&A increased to $2.34 billion in the first nine months of fiscal 2025 compared to $2.21 billion in the first nine months of fiscal 2024. The increase in both comparative periods was primarily driven by increased labor and occupancy costs as a result of new club and gas station openings, as well as increased advertising costs. Additionally, an increase in the number of owned clubs has resulted in increased depreciation expense year-over-year. In the third quarter of fiscal 2024, the Company benefitted from the net impact of legal settlements reached of approximately $20 million, which contributed to the increase in SG&A expenses year-over-year.
- Income tax expense decreased to $56.0 million in the third quarter of fiscal 2025 compared to $61.0 million in the third quarter of fiscal 2024. Income tax expense increased to $154.2 million in the first nine months of fiscal 2025 compared to $142.8 million in the first nine months of fiscal 2024.
- Net income decreased to $152.1 million in the third quarter of fiscal 2025 compared to $155.7 million in the third quarter of fiscal 2024. Net income increased to $452.5 million in the first nine months of fiscal 2025 compared to $411.8 million in the first nine months of fiscal 2024.
- Adjusted EBITDA decreased by 2.2% to $301.4 million in the third quarter of fiscal 2025 compared to $308.3 million in the third quarter of fiscal 2024. Adjusted EBITDA increased by 7.9% to $891.1 million in the first nine months of fiscal 2025 compared to $826.0 million in the first nine months of fiscal 2024.
- Under its existing share repurchase program, the Company repurchased 905,000 shares of common stock, totaling $87.3 million, inclusive of associated costs, in the third quarter of fiscal 2025. In the first nine months of fiscal 2025, the Company repurchased 1,335,000 shares of common stock, totaling $134.7 million, inclusive of associated costs, under such program, and $866.2 million remained available to purchase.
Fiscal 2025 Ending January 31, 2026 Outlook
“Our business has delivered solid results year to date in a volatile backdrop, which speaks to the power and relevance of our business model. We are narrowing our outlook for full year merchandise comparable club sales while increasing our outlook for adjusted earnings per share,” said Laura Felice, Executive Vice President, Chief Financial Officer, BJ’s Wholesale Club, in the recent release.
See the full release here.
