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BJ’s Wholesale Club Announces Fourth Quarter and Full Fiscal 2023 Results; Bob Eddy Comments

BJ’s Wholesale Club Announces Fourth Quarter and Full Fiscal 2023 Results; Bob Eddy Comments


MARLBOROUGH, MA
Tuesday, March 12th, 2024

With the release of its quarter four and full-year 2023 financial results for the fourteen and fifty-three weeks ended February 3, 2024, BJ’s Wholesale Club is showing off its gains.

Bob Eddy, Chairman and Chief Executive Officer, BJ's Wholesale Club“We ended fiscal 2023 on a strong note,” said Bob Eddy, Chairman and Chief Executive Officer. “Our membership grew in robust fashion, and we continue to retain members at all-time high rates. We delivered impressive market share gains in our clubs and at our gas pumps, driven by acceleration in traffic and growth in units sold. We improved our merchandising and value proposition meaningfully during the year and increasingly delivered both with greater convenience through our digital offerings. We also continued to grow our chain with six new clubs since the third quarter. I’m proud of our team and our progress and look forward to more growth in the future.”

For the 14 weeks ended February 3, 2024, BJ’s reported net sales of $5,248,879, a significant increase since the $4,827,762 recorded as of the 13 Weeks ended January 28, 2023.

BJ's Wholesale Club recently reported its fourth quarter and full-year 2023 financial results, noting a series of gains

Other highlights from the report include:

  • Membership fee income increased by 6.5 percent year-over-year to $108.4 million
  • The company continued to achieve a 90 percent tenured member renewal rate during fiscal 2023
  • Income from continuing operations of $145.9 million and adjusted EBITDA of $290.7 million
  • The company opened six new clubs since the third quarter

The complete financial report can be found here.

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BJ's Wholesale Club
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