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Feb 01, 2025
BJ's Q4 2024 Earnings Report
BJ's reported a slight decline in Q4 2024 sales but strong membership growth and higher comparable club sales.
Key Takeaways
BJ's Wholesale Club reported Q4 2024 revenue of $5.28 billion, a 1.5% decline year-over-year due to the impact of a 53rd week in the prior year. On a comparable 13-week basis, total sales grew 4.0%, and comparable club sales excluding gasoline rose 4.6%. Membership fee income increased by 7.9% to $117.0 million, reflecting strong membership acquisition and retention. Adjusted EPS was $0.93, down from $1.11 last year due to lower gross margins and increased SG&A expenses.
Comparable club sales increased 4.0% year-over-year.
Membership fee income rose 7.9% to $117.0 million, reflecting strong membership growth.
Adjusted EPS was $0.93, down 16.2% year-over-year.
Gross profit declined to $949.0 million due to lower merchandise margins.
Forward Guidance
BJ's expects moderate sales growth in FY 2025, with comparable club sales projected to rise 2.0% to 3.5%. The company plans to invest in store expansion, including new club openings and distribution centers, while maintaining a disciplined approach to cost management.
Positive Outlook
- Comparable club sales expected to grow between 2.0% and 3.5%.
- Strong membership acquisition trends to continue.
- Capital expenditures planned at approximately $800 million to support growth.
- Continued investments in digital sales and omnichannel capabilities.
- Adjusted EPS expected to range between $4.10 and $4.30.
Challenges Ahead
- Macroeconomic uncertainty may impact consumer spending.
- Gross margin pressures expected to persist due to merchandise mix shifts.
- Higher SG&A costs anticipated from store and distribution center expansions.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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