BJ's Wholesale Club Q2 Sales Rise 1.4% to $5.2B

TL;DR

BJ's Q2 sales hit $5.2B, up 1.4%. Net income $147.7M. Steady growth.

AI Summary

BJ's Wholesale Club Holdings, Inc. filed its 10-Q for the period ending August 3, 2024. The company reported net sales of $5.2 billion for the second quarter of fiscal year 2024, a 1.4% increase compared to the same period last year. Comparable club sales, excluding gasoline, increased by 0.4%. Net income for the quarter was $147.7 million.

Why It Matters

This filing provides insight into BJ's recent financial performance, indicating continued sales growth and profitability in a competitive retail environment.

Risk Assessment

Risk Level: low — The filing is a routine quarterly report and does not indicate any immediate or significant new risks.

Key Numbers

• $5.2B — Net Sales (Q2 FY2024 net sales, a 1.4% increase year-over-year.)
• 0.4% — Comparable Club Sales (Increase in comparable club sales, excluding gasoline, for Q2 FY2024.)
• $147.7M — Net Income (Q2 FY2024 net income.)

Key Players & Entities

• BJ's Wholesale Club Holdings, Inc. (company) — Filer
• August 3, 2024 (date) — Reporting period end date
• $5.2 billion (dollar_amount) — Net sales for Q2 FY2024
• 0.4% (dollar_amount) — Comparable club sales increase (excluding gasoline)
• $147.7 million (dollar_amount) — Net income for Q2 FY2024

FAQ

Key Financial Figures

• $0.01 B — ich registered Common Stock, par value $0.01 BJ New York Stock Exchange Indicate by
• $0.01 — had 132,585,558 shares of common stock, $0.01 par value per share, outstanding. Tab
• $1.2 billion — means the aggregate committed amount of $1.2 billion under the ABL Revolving Facility; "Fir

Filing Documents

• bj-20240803.htm (10-Q) — 933KB
• bj-20240803x10qex311.htm (EX-31.1) — 10KB
• bj-20240803x10qex312.htm (EX-31.2) — 10KB
• bj-20240803x10qex321.htm (EX-32.1) — 5KB
• bj-20240803x10qex322.htm (EX-32.2) — 5KB
• bj-20240803_g1.jpg (GRAPHIC) — 5KB
• 0001531152-24-000135.txt ( ) — 4600KB
• bj-20240803.xsd (EX-101.SCH) — 29KB
• bj-20240803_cal.xml (EX-101.CAL) — 48KB
• bj-20240803_def.xml (EX-101.DEF) — 148KB
• bj-20240803_lab.xml (EX-101.LAB) — 468KB
• bj-20240803_pre.xml (EX-101.PRE) — 306KB
• bj-20240803_htm.xml (XML) — 489KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) 5 Condensed Consolidated Balance Sheets 4 Condensed Consolidated Statements of Operations and Comprehensive Income 5 Condensed Consolidated Statements of Stockholders' Equity 7 Condensed Consolidated Statements of Cash Flows 9 Notes to Unaudited Condensed Consolidated Financial Statements 10 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 28 Item 4.

Controls and Procedures

Controls and Procedures 29 PART II. OTHER INFORMATION 29 Item 1.

Legal Proceedings

Legal Proceedings 29 Item 1A.

Risk Factors

Risk Factors 29 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 29 Item 3. Defaults Upon Senior Securities 30 Item 4. Mine Safety Disclosures 30 Item 5. Other Information 30 Item 6. Exhibits 31 Signature 32 2 TRADEMARKS BJ's Wholesale Club , BJ's , Wellsley Farms , Berkley Jensen , My BJ's Perks , BJ's Easy Renewal , BJ's Gas , BJ's One , BJ's One+ , BJ's Perks Elite , BJ's Perks Plus , Inner Circle , Same-Day-Select , ExpressPay and BJ's Perks Rewards are all registered trademarks of BJ's Wholesale Club, Inc. Other trademarks, trade names and service marks appearing in this Quarterly Report on Form 10-Q are the property of their respective owners. We do not intend our use or display of those other parties' trademarks, trade names or service marks to imply, and such use or display should not be construed to imply, a relationship with, or endorsement or sponsorship of us by, these other parties. Solely for convenience, trademarks, trade names and service marks referred to in this Quarterly Report on Form 10-Q may appear without the , or SM symbols, but such references are not intended to indicate, in any way, that we will not assert, to the fullest extent under applicable law, our rights or the right of the applicable licensor to these trademarks, trade names and service marks. DEFINED TERMS As used in this Quarterly Report on Form 10-Q, unless the context otherwise requires: "The Company", "BJ's", "we", "us" and "our" mean BJ's Wholesale Club Holdings, Inc. and, unless the context otherwise requires, its consolidated subsidiaries; "ABL Revolving Facility" means the Company's revolving credit facility entered into on July 28, 2022; "ABL Revolving Commitment" means the aggregate committed amount of $1.2 billion under the ABL Revolving Facility; "First Lien Term Loan" means the Company's senior secured first lien term loan facility that was amended on October 12, 2023; "Fourth Amendment" means the Company's fourt

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. BJ'S WHOLESALE CLUB HOLDINGS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Amounts in thousands, except par value) (Unaudited) August 3, 2024 February 3, 2024 July 29, 2023 ASSETS Current assets: Cash and cash equivalents $ 38,058 $ 36,049 $ 26,210 Accounts receivable, net 248,491 234,769 200,279 Merchandise inventories 1,546,211 1,454,822 1,540,508 Prepaid expenses and other current assets 82,333 68,366 76,309 Total current assets 1,915,093 1,794,006 1,843,306 Operating lease right-of-use assets, net 2,150,965 2,140,482 2,165,125 Property and equipment, net 1,697,139 1,578,792 1,428,576 Goodwill 1,008,816 1,008,816 1,008,816 Intangibles, net 104,370 107,632 111,568 Deferred income taxes 3,548 4,071 7,928 Other assets 49,971 43,823 38,577 Total assets $ 6,929,902 $ 6,677,622 $ 6,603,896 LIABILITIES Current liabilities: Short-term debt $ 217,000 $ 319,000 $ 411,000 Current portion of operating lease liabilities 162,777 153,631 179,423 Accounts payable 1,285,733 1,183,281 1,226,490 Accrued expenses and other current liabilities 858,240 812,136 774,235 Total current liabilities 2,523,750 2,468,048 2,591,148 Long-term operating lease liabilities 2,058,071 2,050,883 2,075,058 Long-term debt 398,586 398,432 448,135 Deferred income taxes 70,976 74,773 64,095 Other non-current liabilities 223,612 226,635 194,171 Commitments and contingencies (see Note 5 ) STOCKHOLDERS' EQUITY Preferred stock; par value $ 0.01 ; 5,000 shares authorized, and no shares issued — — — Common stock, par value $ 0.01 ; 300,000 shares authorized, 148,757 shares issued and 132,766 outstanding at August 3, 2024; 147,544 shares issued and 132,768 outstanding at February 3, 2024; and 147,443 shares issued and 133,720 outstanding at July 29, 2023 1,488 1,475 1,474 Additional paid-in capital 1,044,196 1,006,409 983,366 Retained earnings 1,424,238 1,168,231 891,892 Accumulated other comprehensive income 501 501 1,049 Treasury stock, at

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View this 10-Q filing on SEC EDGAR