BJ’s Wholesale Club Holdings, Inc. (NYSE: BJ) reported fourth-quarter results that missed revenue expectations and issued fiscal 2026 guidance below analyst forecasts, sending shares down more than 3% intra-day Thursday.
The warehouse retailer reported adjusted earnings per share of $0.96 for the quarter ended January 31, exceeding the consensus estimate of $0.92 by $0.04. Revenue totaled $5.44 billion, falling short of the $5.54 billion analyst estimate despite rising 5.5% from $5.16 billion in the same quarter last year.
Comparable club sales increased 1.6% year over year, or 2.6% excluding gasoline sales. The company attributed its performance to continued growth in membership, digital sales, and store traffic, marking its 16th consecutive quarter of traffic growth.
For fiscal 2026, BJ’s projected adjusted earnings per share between $4.40 and $4.60, with the midpoint of $4.50 below the analyst consensus estimate of $4.66. Comparable club sales excluding gasoline are expected to increase between 2.0% and 3.0% year over year. The company plans to invest approximately $800 million in capital expenditures for new club openings and enhancements to its distribution network.
Membership fee income rose 10.9% to $129.8 million in the quarter, supported by strong membership acquisition and retention, increased penetration of higher-tier memberships, and the annual membership fee increase implemented in January 2025.
BJ’s maintained a 90% renewal rate among tenured members during fiscal 2025. Digitally enabled comparable sales surged 31%, reflecting 57% growth on a two-year stacked basis. During the quarter, the company opened seven new clubs and seven gas stations.
