BJ’s Wholesale Club Holdings, Inc. has announced its financial results for the fourth quarter and full fiscal 2024. The company reported a 4.0% year-over-year increase in comparable club sales for the fourth quarter, and a 4.6% increase when excluding gasoline sales. Membership fee income also saw a significant rise, increasing by 7.9% year-over-year to $117.0 million.
In terms of net sales, the company reported a 1.7% decline for the thirteen weeks ended February 1, 2025, compared to the same period in fiscal 2023. However, for the fifty-two weeks ended February 1, 2025, net sales increased by 2.5% year-over-year. Similarly, total revenues saw a 1.5% decline for the thirteen weeks ended February 1, 2025, but a 2.7% increase for the fifty-two weeks ended February 1, 2025.
Operating income decreased by 16.6% to $178.4 million for the thirteen weeks ended February 1, 2025, while income from continuing operations decreased by 15.9% to $122.7 million. Adjusted EBITDA also saw a decrease of 9.0% to $264.6 million for the same period.
Earnings per diluted share (EPS) for the fourth quarter of fiscal 2024 were reported at $0.92, a 14.8% decrease from the fourth quarter of fiscal 2023. Adjusted EPS also decreased by 16.2% to $0.93 for the same period.
Looking at the full fiscal year, net income increased by 2.0% to $534.4 million in fiscal 2024 compared to fiscal 2023. However, adjusted EBITDA saw a modest increase of 0.8% to $1.09 billion in fiscal 2024 compared to the previous fiscal year.
The company’s membership fee income also increased to $456.5 million in fiscal 2024 from $420.7 million in fiscal 2023, primarily driven by strength in membership acquisition, retention, and higher tier membership penetration.
BJ’s Wholesale Club Holdings, Inc. provided guidance for fiscal 2025, expecting comparable club sales (excluding gasoline sales) to increase by 2.0% to 3.5% year-over-year and adjusted EPS to range from $4.10 to $4.30.
In light of these results, the company's management expressed cautious optimism about the year ahead, recognizing the macro-driven uncertainties in the operating environment. The company also highlighted its commitment to delivering value and its strategic priorities as drivers of strong results for the business in the upcoming fiscal year.
BJ’s Wholesale Club Holdings, Inc. operates 252 clubs and 188 BJ’s Gas® locations in 21 states, and its membership fee income, net sales, and comparable club sales are key metrics to watch as the company continues to navigate the evolving retail landscape. The market has reacted to these announcements by moving the company's shares 12.5% to a price of $112.58. If you want to know more, read the company's complete 8-K report here.
