# BJ’s Wholesale Club Holdings, Inc. (BJ) Q2 2025 Financial Results Summary
On August 22, 2025, BJ’s Wholesale Club Holdings, Inc. released its financial results for the second quarter of fiscal 2025, covering the period that ended on August 2, 2025.
### Key Financial Metrics:
– **Net Sales**
– Q2 2025: $5,256.9 million
– Q2 2024: $5,092.3 million
– **Growth:** 3.2% year-over-year
– **Membership Fee Income**
– Q2 2025: $123.3 million
– Q2 2024: $113.1 million
– **Growth:** 9.0% year-over-year
– **Total Revenues**
– Q2 2025: $5,380.2 million
– Q2 2024: $5,205.4 million
– **Growth:** 3.4% year-over-year
– **Operating Income**
– Q2 2025: $216.5 million
– Q2 2024: $203.7 million
– **Growth:** 6.3% year-over-year
– **Net Income**
– Q2 2025: $150.7 million
– Q2 2024: $145.0 million
– **Growth:** 3.9% year-over-year
– **Earnings per Diluted Share (EPS)**
– Q2 2025: $1.14
– Q2 2024: $1.08
– **Growth:** 5.6% year-over-year
– **Adjusted Earnings per Diluted Share (Adjusted EPS)**
– Q2 2025: $1.14
– Q2 2024: $1.09
– **Growth:** 4.6% year-over-year
– **Adjusted EBITDA**
– Q2 2025: $303.9 million
– Q2 2024: $281.3 million
– **Growth:** 8.0% year-over-year
– **Digital Comparable Sales Growth**
– Q2 2025: 34%
– Two-year stacked comp growth: 56%
### Membership and Strategic Highlights:
– **Membership Growth**
– Member count reached a record **8 million** members.
– **Driving Factors for Membership Fee Income**
– Strength in membership acquisition and retention.
– Increased penetration in higher-tier memberships.
– Membership fee increases effective January 2025 contributed to the growth.
### Operational Highlights:
– **Comparable Club Sales**
– Overall decreased by **0.3%** year-over-year for Q2.
– Excluding gasoline sales, comparable club sales increased by **2.3%**.
– **Gross Profit**
– Q2 2025: $1.01 billion
– Q2 2024: $956.6 million
– **Growth:** 5.5% year-over-year
– Merchandise gross margin rate increased by **10 basis points** year-over-year.
– **Selling, General and Administrative Expenses (SG&A)**
– Q2 2025: $786.4 million
– Q2 2024: $750.3 million
– **Growth:** 4.8% year-over-year
– **Income before Income Taxes**
– Q2 2025: $206.1 million
– Q2 2024: $190.9 million
– **Growth:** 7.9% year-over-year
– **Income Tax Expense**
– Q2 2025: $55.4 million
– Q2 2024: $45.9 million
– **Growth:** 20.6% year-over-year
### Share Repurchase Program:
– Under its existing share repurchase program, BJ’s repurchased **375,000 shares** of common stock for a total of **$41.2 million**, including associated costs, during Q2 2025. In the first six months, the Company repurchased **430,000 shares** for a total of **$47.4 million**.
### Fiscal 2025 Outlook:
– **Comparable Club Sales (excluding gasoline)**
– Expected to increase between **2.0% to 3.5%** year-over-year.
– **Adjusted EPS**
– Projected range: **$4.20 to $4.35**.
– **Capital Expenditures**
– Estimated at approximately **$800 million**.
### Conclusion:
BJ’s Wholesale Club continues to show resilience in a challenging retail environment, displayed through membership growth and operational efficiencies despite a slight decline in overall comparable club sales. The company is positioned for positive momentum with its increased EPS guidance and solid membership metrics.
Here are the extracted tables from the press release:
### CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts in thousands, except per share amounts)
| Thirteen Weeks Ended | Thirteen Weeks Ended | Twenty-six Weeks Ended | Twenty-six Weeks Ended | |
|---|---|---|---|---|
| August 2, 2025 | August 3, 2024 | August 2, 2025 | August 3, 2024 | |
| Net sales | $ 5,256,907 | $ 5,092,279 | $ 10,290,001 | $ 9,899,408 |
| Membership fee income | $ 123,333 | $ 113,116 | $ 243,722 | $ 224,506 |
| Total revenues | $ 5,380,240 | $ 5,205,395 | $ 10,533,723 | $ 10,123,914 |
| Cost of sales | $ 4,374,065 | $ 4,248,819 | $ 8,558,049 | $ 8,283,948 |
| Selling, general and administrative expenses | $ 786,358 | $ 750,323 | $ 1,547,238 | $ 1,472,094 |
| Pre-opening expenses | $ 3,287 | $ 2,578 | $ 8,261 | $ 3,442 |
| Operating income | $ 216,530 | $ 203,675 | $ 420,175 | $ 364,430 |
| Interest expense, net | $ 10,393 | $ 12,755 | $ 21,492 | $ 26,706 |
| Income before income taxes | $ 206,137 | $ 190,920 | $ 398,683 | $ 337,724 |
| Provision for income taxes | $ 55,432 | $ 45,932 | $ 98,210 | $ 81,717 |
| Net income | $ 150,705 | $ 144,988 | $ 300,473 | $ 256,007 |
| Income per share attributable to common stockholders—basic | $ 1.14 | $ 1.09 | $ 2.28 | $ 1.93 |
| Income per share attributable to common stockholders—diluted | $ 1.14 | $ 1.08 | $ 2.27 | $ 1.91 |
| Weighted-average number of shares outstanding: Basic | 131,799 | 132,431 | 131,684 | 132,414 |
| Weighted-average number of shares outstanding: Diluted | 132,517 | 133,849 | 132,633 | 133,980 |
—
### CONDENSED CONSOLIDATED BALANCE SHEETS
(Amounts in thousands, except per share amounts)
| August 2, 2025 | August 3, 2024 | |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 47,273 | $ 38,058 |
| Accounts receivable, net | $ 270,905 | $ 248,491 |
| Merchandise inventories | $ 1,520,684 | $ 1,546,211 |
| Prepaid expense and other current assets | $ 90,096 | $ 82,333 |
| Total current assets | $ 1,928,958 | $ 1,915,093 |
| Operating lease right-of-use assets, net | $ 2,054,621 | $ 2,150,965 |
| Property and equipment, net | $ 2,068,193 | $ 1,697,139 |
| Goodwill | $ 1,008,816 | $ 1,008,816 |
| Intangibles, net | $ 98,285 | $ 104,370 |
| Deferred income taxes | $ 5,804 | $ 3,548 |
| Other assets | $ 67,095 | $ 49,971 |
| Total assets | $ 7,231,772 | $ 6,929,902 |
| LIABILITIES | ||
| Current liabilities: | ||
| Short-term debt | $ 105,000 | $ 217,000 |
| Current portion of operating lease liabilities | $ 173,521 | $ 162,777 |
| Accounts payable | $ 1,264,208 | $ 1,285,733 |
| Accrued expenses and other current liabilities | $ 891,507 | $ 858,240 |
| Total current liabilities | $ 2,434,236 | $ 2,523,750 |
| Long-term operating lease liabilities | $ 1,959,378 | $ 2,058,071 |
| Long-term debt | $ 398,953 | $ 398,586 |
| Deferred income taxes | $ 68,065 | $ 70,976 |
| Other non-current liabilities | $ 272,046 | $ 223,612 |
| STOCKHOLDERS’ EQUITY | $ 2,099,094 | $ 1,654,907 |
| Total liabilities and stockholders’ equity | $ 7,231,772 | $ 6,929,902 |
