BJ’s Wholesale gains on membership fee surge and digital momentum

BJ’s Wholesale Club Holdings (NYSE:BJ) posted a 10.9% increase in membership fee income and robust digital growth in its fiscal fourth quarter, signaling resilient consumer demand for the warehouse club model despite a cooling inflationary environment.

For the thirteen-week period ended January 31, 2026, the Marlborough, Massachusetts-based retailer reported earnings per diluted share and adjusted earnings per diluted share of $0.96.

Comparable club sales rose 1.6% year-over-year, while comparable sales excluding gasoline—a key metric for underlying retail health—grew by 2.6%.

The company’s membership metrics remained a primary driver of performance.

Membership fee income reached $129.8 million for the quarter, reflecting both base expansion and high loyalty levels.

BJ’s also maintained a 90% renewal rate among its tenured members through fiscal 2025, a critical benchmark for the subscription-based business model.

Digital channels continue to play an outsized role in the company's growth strategy.

Digitally enabled comparable sales surged 31% in the fourth quarter, contributing to a two-year stacked growth rate of 57%.