BJ's Wholesale Club Reports Q4 Growth, Sets 2026 Outlook With Modest Comps and Accelerated Expansion

Overview

• Management guided to 2%–3% merchandise comparable sales growth in fiscal 2026 and projected adjusted EPS of $4.40–$4.60, excluding any potential tariff effects.
• Membership increased by more than 500,000 to exceed 8 million, with a 16th straight quarter of traffic gains and a 13th consecutive quarter of market share growth.
• BJ’s opened 14 new clubs in 2025 and plans 25–30 across 2025–2026, including entry into Dallas–Fort Worth, supported by a new automated Ohio distribution center slated for 2027.
• Q4 net sales were roughly $5.4 billion, up 5.5% year over year, as merchandise comps rose 2.6% and merchandise margin contracted about 50 basis points from mix and price investments.
• Digital drove 16% of sales with club‑fulfilled services such as BOPIC and Express Pay, while the company repurchased about 2.6 million shares for $252 million in 2025 and ended the year at 0.4x net leverage.