BJ’s Wholesale Club Holdings (BJ) Q3 2025 Financial Results Summary
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BJ’s Wholesale Club Holdings, Inc. (BJ) Q3 2025 Financial Results Summary
Release Date: November 21, 2025
BJ’s Wholesale Club Holdings, Inc. (NYSE: BJ) announced its financial results for the third quarter of fiscal 2025, which ended on November 1, 2025. Below is a summary of the key financial highlights and metrics:
Key Financial Highlights for Q3 Fiscal 2025
- Net Sales:
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Increased by 4.8% to $5.22 billion compared to $4.98 billion in Q3 Fiscal 2024.
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Comparable Club Sales:
- Increased by 1.1% year-over-year.
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Excluding gasoline sales, comparable club sales increased by 1.8%, representing a two-year stack growth of 5.5%.
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Membership Fee Income:
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Increased by 9.8% to $126.3 million, up from $114.98 million a year earlier.
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Digitally Enabled Comparable Sales Growth:
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Achieved 30% growth with a two-year stacked comp growth of 61%.
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Operating Income:
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Decreased by 4.8% to $218.4 million compared to $229.4 million in Q3 Fiscal 2024.
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Net Income:
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Decreased by 2.4% to $152.1 million, compared to $155.7 million in the same quarter last year.
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Earnings Per Share:
- Earnings per diluted share of $1.15, down by 1.7% from $1.17 per share in Q3 Fiscal 2024.
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Adjusted EPS of $1.16, also down by 1.7% from the previous year’s $1.18.
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Adjusted EBITDA:
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Decreased by 2.2% to $301.4 million compared to $308.3 million in Q3 Fiscal 2024.
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Membership Growth:
- Experienced growth in member acquisition, retention, and higher-tier memberships contributing to the increased membership fee income.
Year-To-Date Performance (First Nine Months of Fiscal 2025)
- Net Sales:
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Increased by 4.2% to $15.51 billion compared to $14.88 billion the previous year.
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Total Revenues:
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Increased by 4.9% to $15.88 billion from $15.22 billion.
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Net Income:
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Increased by 9.9% to $452.5 million compared to $411.8 million in the first nine months of fiscal 2024.
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Adjusted EPS:
- Increased by 10.3% to $3.44 compared to $3.12 in the same period last year.
Additional Highlights
- Selling, General and Administrative Expenses (SG&A):
- Increased by 7.5% in Q3 to $788.2 million from $733.6 million year-over-year.
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The increase was primarily due to labor and occupancy costs associated with new club openings.
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Income Tax Expense:
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Decreased by 8.8% year-over-year to $56.0 million.
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Share Repurchase Program:
- Under the share repurchase program, BJ’s repurchased 905,000 shares of common stock for a total of $87.3 million in Q3.
- For the first nine months, 1,335,000 shares were repurchased for $134.7 million.
Outlook for Fiscal 2025
- BJ’s provided an updated outlook anticipating:
- Comparable club sales, excluding gasoline sales, to increase by 2.0% to 3.0% year-over-year.
- Adjusted EPS is expected to range from $4.30 to $4.40.
- Projected capital expenditures of approximately $800 million.
Conclusion
BJ’s Wholesale Club continues to build momentum as it enters the holiday season, focusing on membership growth and enhanced member experiences in a volatile retail environment. The company remains committed to managing its operations strategically to drive profitable growth and respond to market demands effectively.
Here are the extracted tables from the provided press release:
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts in thousands, except per share amounts)
| Thirteen Weeks Ended | Thirteen Weeks Ended | Thirty-nine Weeks Ended | Thirty-nine Weeks Ended | |
|---|---|---|---|---|
| November 1, 2025 | November 2, 2024 | November 1, 2025 | November 2, 2024 | |
| Net sales | $5,221,866 | $4,984,385 | $15,511,867 | $14,883,793 |
| Membership fee income | $126,297 | $114,979 | $370,019 | $339,485 |
| Total revenues | $5,348,163 | $5,099,364 | $15,881,886 | $15,223,278 |
| Cost of sales | $4,333,826 | $4,123,888 | $12,891,875 | $12,407,836 |
| Selling, general and administrative expenses | $788,151 | $733,580 | $2,335,389 | $2,205,674 |
| Pre-opening expenses | $7,835 | $12,513 | $16,096 | $15,955 |
| Operating income | $218,351 | $229,383 | $638,526 | $593,813 |
| Interest expense, net | $10,309 | $12,593 | $31,801 | $39,299 |
| Income before income taxes | $208,042 | $216,790 | $606,725 | $554,514 |
| Provision for income taxes | $55,992 | $61,042 | $154,202 | $142,759 |
| Net income | $152,050 | $155,748 | $452,523 | $411,755 |
| Income per share attributable to common stockholders—basic | $1.16 | $1.18 | $3.44 | $3.11 |
| Income per share attributable to common stockholders—diluted | $1.15 | $1.17 | $3.42 | $3.08 |
| Weighted-average number of shares outstanding: Basic | 131,194 | 132,083 | 131,520 | 132,304 |
| Weighted-average number of shares outstanding: Diluted | 131,922 | 133,333 | 132,396 | 133,764 |
CONDENSED CONSOLIDATED BALANCE SHEETS
(Amounts in thousands, except per share amounts)
| November 1, 2025 | November 2, 2024 | |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $45,119 | $33,873 |
| Accounts receivable, net | $299,250 | $266,718 |
| Merchandise inventories | $1,693,805 | $1,720,011 |
| Prepaid expense and other current assets | $90,472 | $76,491 |
| Total current assets | $2,128,646 | $2,097,093 |
| Operating lease right-of-use assets, net | $2,015,769 | $2,114,592 |
| Property and equipment, net | $2,227,460 | $1,832,397 |
| Goodwill | $1,008,816 | $1,008,816 |
| Intangibles, net | $96,874 | $102,739 |
| Deferred income taxes | $5,874 | $5,010 |
| Other assets | $62,361 | $55,575 |
| Total assets | $7,545,800 | $7,216,222 |
| LIABILITIES | ||
| Current liabilities: | ||
| Short-term debt | $200,000 | $245,000 |
| Current portion of operating lease liabilities | $177,928 | $163,292 |
| Accounts payable | $1,376,057 | $1,420,425 |
| Accrued expenses and other current liabilities | $945,730 | $913,307 |
| Total current liabilities | $2,699,715 | $2,742,024 |
| Long-term operating lease liabilities | $1,920,153 | $2,024,689 |
| Long-term debt | $399,026 | $398,663 |
| Deferred income taxes | $69,260 | $65,531 |
| Other non-current liabilities | $285,736 | $223,144 |
| STOCKHOLDERS’ EQUITY | $2,171,910 | $1,762,171 |
| Total liabilities and stockholders’ equity | $7,545,800 | $7,216,222 |