BJ's Wholesale Club Files Q3 2024 10-Q

TL;DR

BJ's 10-Q is in: Q3 2024 financials are here, check for membership & sales trends.

AI Summary

BJ's Wholesale Club Holdings, Inc. filed its 10-Q for the period ending November 2, 2024. The filing details financial performance, including revenue and membership trends, for the third quarter of fiscal year 2024. Specific financial figures and operational updates are provided within the report.

Why It Matters

This filing provides investors with the latest financial performance data for BJ's Wholesale Club, crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.

Key Numbers

• Q3 2024 — Fiscal Quarter (Reporting period for the 10-Q)
• 2024-11-02 — Period End Date (The date through which financial information is reported)

Key Players & Entities

• BJ's Wholesale Club Holdings, Inc. (company) — Filer of the 10-Q
• 0001531152-24-000161 (other) — Accession Number for the filing
• 20241102 (date) — End of the reporting period
• 20241127 (date) — Filing date

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 132,093,722 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-20241102.htm (10-Q) — 1009KB
• exhibit101-eddyemploymenta.htm (EX-10.1) — 20KB
• exhibit102-feliceemploymen.htm (EX-10.2) — 18KB
• exhibit103-cichockiemploym.htm (EX-10.3) — 17KB
• exhibit104-werneremploymen.htm (EX-10.4) — 17KB
• bj-20241102x10qex311.htm (EX-31.1) — 10KB
• bj-20241102x10qex312.htm (EX-31.2) — 10KB
• bj-20241102x10qex321.htm (EX-32.1) — 5KB
• bj-20241102x10qex322.htm (EX-32.2) — 5KB
• bj-20241102_g1.jpg (GRAPHIC) — 5KB
• 0001531152-24-000161.txt ( ) — 4877KB
• bj-20241102.xsd (EX-101.SCH) — 30KB
• bj-20241102_cal.xml (EX-101.CAL) — 53KB
• bj-20241102_def.xml (EX-101.DEF) — 153KB
• bj-20241102_lab.xml (EX-101.LAB) — 475KB
• bj-20241102_pre.xml (EX-101.PRE) — 312KB
• bj-20241102_htm.xml (XML) — 516KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) 4 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 20 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 30 Item 4.

Controls and Procedures

Controls and Procedures 30 PART II. OTHER INFORMATION 31 Item 1.

Legal Proceedings

Legal Proceedings 31 Item 1A.

Risk Factors

Risk Factors 31 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 31 Item 3. Defaults Upon Senior Securities 31 Item 4. Mine Safety Disclosures 31 Item 5. Other Information 32 Item 6. Exhibits 33 Signature 34 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) November 2, 2024 February 3, 2024 October 28, 2023 ASSETS Current assets: Cash and cash equivalents $ 33,873 $ 36,049 $ 33,551 Accounts receivable, net 266,718 234,769 224,505 Merchandise inventories 1,720,011 1,454,822 1,661,852 Prepaid expenses and other current assets 76,491 68,366 80,550 Total current assets 2,097,093 1,794,006 2,000,458 Operating lease right-of-use assets, net 2,114,592 2,140,482 2,174,706 Property and equipment, net 1,832,397 1,578,792 1,495,912 Goodwill 1,008,816 1,008,816 1,008,816 Intangibles, net 102,739 107,632 109,600 Deferred income taxes 5,010 4,071 7,429 Other assets 55,575 43,823 40,323 Total assets $ 7,216,222 $ 6,677,622 $ 6,837,244 LIABILITIES Current liabilities: Short-term debt $ 245,000 $ 319,000 $ 434,000 Current portion of operating lease liabilities 163,292 153,631 180,490 Accounts payable 1,420,425 1,183,281 1,318,959 Accrued expenses and other current liabilities 913,307 812,136 805,607 Total current liabilities 2,742,024 2,468,048 2,739,056 Long-term operating lease liabilities 2,024,689 2,050,883 2,084,744 Long-term debt 398,663 398,432 398,355 Deferred income taxes 65,531 74,773 65,104 Other non-current liabilities 223,144 226,635 196,289 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, 148,776 shares issued and 132,094 outstanding at November 2, 2024; 147,544 shares issued and 132,768 outstanding at February 3, 2024; and 147,470 shares issued and 133,494 outstanding at October 28, 2023 1,488 1,475 1,475 Additional paid-in capital 1,054,912 1,006,409 993,178 Retained earnings 1,579,986 1,168,231 1,022,359 Accumulated other comprehensive income 501 501 1,049 Treasur

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View this 10-Q filing on SEC EDGAR