Form 8-K

8-K — BJ's Wholesale Club Holdings, Inc.

Accession: 0001531152-26-000026

Filed: 2026-05-22

Period: 2026-05-22

CIK: 0001531152

SIC: 5331 (RETAIL-VARIETY STORES)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — bj-20260522.htm (Primary)

EX-99.1 (bj-2026050226x8kex991.htm)

GRAPHIC — BJ'S LOGO (bj-20260522_g1.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: bj-20260522.htm · Sequence: 1

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0001531152false00015311522026-05-222026-05-22

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

__________________________________

FORM 8-K

__________________________________

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) May 22, 2026

BJ’S WHOLESALE CLUB HOLDINGS, INC.

(Exact name of registrant as specified in its charter)

__________________________________

Delaware 001-38559 45-2936287

(State or other jurisdiction

of incorporation) (Commission

File Number) (IRS Employer

Identification No.)

350 Campus Drive

Marlborough, Massachusetts

01752

(Address of principal executive offices) (Zip Code)

(774) 512-7400

(Registrant’s telephone number, including area code)

N/A

(Former name, former address and former fiscal year, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered or to be registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered

Common Stock, par value $0.01 BJ New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On May 22, 2026, BJ’s Wholesale Club Holdings, Inc. (the “Company”) issued a press release announcing its financial results for the first quarter (thirteen weeks) of fiscal year 2026 ended May 2, 2026. The full text of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

The information in this Current Report on Form 8-K (including Exhibit 99.1) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, nor shall it be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filings.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No. Description

99.1

Press Release of BJ's Wholesale Club Holdings, Inc. dated May 22, 2026

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: May 22, 2026

BJ’S WHOLESALE CLUB HOLDINGS, INC.

By: /s/ Laura Felice

Name: Laura Felice

Title: Executive Vice President and Chief Financial Officer

EX-99.1

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Document

Exhibit 99.1

BJ’s Wholesale Club Holdings, Inc. Announces First Quarter Fiscal 2026 Results

Strong first quarter performance reflecting momentum in membership, fuel, and digital sales

First Quarter Fiscal 2026 Highlights

•Comparable club sales increased by 6.3% year-over-year

•Comparable club sales, excluding gasoline sales, increased by 1.5% year-over-year

•Membership fee income increased by 9.9% year-over-year to $132.4 million

•Digitally enabled comparable sales growth was 28%, reflecting two-year stacked comp growth of 63%

•Earnings per diluted share and adjusted earnings per diluted share(a) of $1.10

•The Company opened one new club and six new gas stations

Marlborough, Mass. (May 22, 2026) – BJ’s Wholesale Club Holdings, Inc. (NYSE: BJ) (the “Company”) today announced its financial results for the thirteen weeks ended May 2, 2026.

“We delivered a strong first quarter as our value proposition continued to resonate with members across our clubs and at our gas stations. Momentum in membership, fuel and digital sales reflects the disciplined execution of our teams and our focus on delivering value and convenience for the families who depend on us,” said Bob Eddy, Chairman and Chief Executive Officer, BJ’s Wholesale Club. “We remain confident in our strategy as we continue to invest in growth and expand our footprint.”

Key Measures for the Thirteen Weeks Ended May 2, 2026 (First Quarter of Fiscal 2026):

BJ'S WHOLESALE CLUB HOLDINGS, INC.

(Amounts in thousands, except per share amounts)

Thirteen Weeks Ended %

Growth (Decline)

May 2, 2026 May 3, 2025

Net sales $ 5,529,145 $ 5,033,094 9.9 %

Membership fee income 132,355 120,389 9.9 %

Total revenues 5,661,500 5,153,483 9.9 %

Operating income 207,913 203,645 2.1 %

Net income 142,726 149,768 (4.7) %

EPS (b)

1.10 1.13 (2.7) %

Adjusted net income (a)

142,726 150,875 (5.4) %

Adjusted EPS (a)

1.10 1.14 (3.5) %

Adjusted EBITDA (a)

298,070 285,836 4.3 %

Basic weighted-average shares outstanding 128,650 131,569

Diluted weighted-average shares outstanding 129,383 132,749

(a)See “Note Regarding Non-GAAP Financial Information.”

(b)EPS represents net income per diluted share.

Additional Highlights:

•Total comparable club sales increased by 6.3% in the first quarter of fiscal 2026 compared to the first quarter of fiscal 2025. Excluding the impact of gasoline sales, comparable club sales increased by 1.5% in the first quarter of fiscal 2026 compared to the first quarter of fiscal 2025.

•Membership fee income increased to $132.4 million in the first quarter of fiscal 2026 compared to $120.4 million in the first quarter of fiscal 2025. The increase was primarily driven by strength in membership acquisition, retention and higher-tier membership penetration across both new and existing clubs.

•Gross profit increased to $1.03 billion in the first quarter of fiscal 2026 compared to $969.5 million in the first quarter of fiscal 2025. Merchandise gross margin rate, which excludes gasoline sales and membership fee income, decreased by approximately 10 basis points compared to the first quarter of fiscal 2025, primarily driven by the Company’s continued investments in pricing partially offset by tariff refund benefits recognized in the quarter.

•Selling, general and administrative expenses (“SG&A”) increased to $806.0 million in the first quarter of fiscal 2026 compared to $760.9 million in the first quarter of fiscal 2025. The increase was primarily driven by increased labor, occupancy, and operational costs mainly as a result of new club and gas station openings. Additionally, an increase in the number of owned clubs has resulted in increased depreciation expense year-over-year.

•Income tax expense increased to $52.8 million in the first quarter of fiscal 2026 compared to $42.8 million in the first quarter of fiscal 2025, primarily driven by an increase in income before income taxes and lower tax benefits from stock-based compensation.

•Net income decreased to $142.7 million in the first quarter of fiscal 2026 compared to $149.8 million in the first quarter of fiscal 2025.

•Adjusted EBITDA increased by 4.3% to $298.1 million in the first quarter of fiscal 2026 compared to $285.8 million in the first quarter of fiscal 2025.

•Under its existing share repurchase program, the Company repurchased 2,114,000 shares of common stock, totaling $206.6 million, inclusive of associated costs, in the first quarter of fiscal 2026. Approximately $545.0 million remained available to purchase under such program.

Fiscal 2026 Ending January 30, 2027 Outlook

“Our first quarter performance reflects disciplined execution and continued investment in the business. We delivered solid profitability while growing membership fee income and maintaining our focus on cost management,” said Laura Felice, Executive Vice President, Chief Financial Officer, BJ’s Wholesale Club. “As we look ahead, our guidance for fiscal 2026 is unchanged, and we remain confident in our ability to invest for long-term growth and deliver sustainable, profitable results.”

On March 5, 2026, the Company provided the following guidance for fiscal 2026:

•Comparable club sales, excluding the impact of gasoline sales, to increase 2.0% to 3.0% year-over-year

•Adjusted EPS to range from $4.40 to $4.60

•Capital expenditures of approximately $800 million, reflecting continued investment in new club openings and enhancements across our distribution network, including the ambient distribution center

Conference Call Details

A conference call to discuss the first quarter of fiscal 2026 financial results is scheduled for today, May 22, 2026, at 8:30 A.M. Eastern Time. The live audio webcast of the call can be accessed under the “Events & Presentations” section of the Company’s investor relations website at https://investors.bjs.com and will remain available for one year. Participants may also dial (833) 461-5787 within the U.S. or +1 (585) 542-9983 outside the U.S. and reference conference ID 358568726.

About BJ’s Wholesale Club Holdings, Inc.

BJ’s Wholesale Club Holdings, Inc. (NYSE: BJ) is a leading operator of membership warehouse clubs focused on delivering significant value to its members and serving a shared purpose: “We take care of the families who depend on us.” The Company provides a wide assortment of fresh foods, produce, a full-service deli, fresh bakery, household essentials and gas. In addition, BJ’s offers the latest technology, home decor, apparel, seasonal items and more to deliver unbeatable value to smart-saving families. Headquartered in Marlborough, Massachusetts, the Company pioneered the warehouse club model in New England in 1984 and currently operates 267 clubs and 205 BJ's Gas® locations in 22 states. For more information, please visit us at www.bjs.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding our future results of operations and financial position; our anticipated fiscal 2026 outlook; the timing and amounts of any share repurchases under our current authorized share repurchase program; and our strategic priorities and future progress, as well as statements that include the words “may,” “might,” “will,” “should,” “expect,” “plan,” “anticipate,” “can,” “could,” “intend,” “confident,” “project,” “believe,” “estimate,” “predict,” “continue,” “forecast,” “would,” or the negative of these terms or other similar expressions of a future or forward-looking nature. These forward-looking statements are based on management’s current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: uncertainties in the financial markets, including, without limitation, as a result of disruptions and instability in the banking and financial services industries or as a result of wars and global political conflicts, consumer and small business spending patterns and debt levels; our dependence on having a large and loyal membership; domestic and international economic conditions, including volatility in inflation or interest rates, supply chain disruptions, construction delays and exchange rates; our ability to procure the merchandise we sell at the best possible prices; the effects of competition and regulation; our dependence on vendors to supply us with quality merchandise at the right time and at the right price; breaches of security or privacy of member or business information; conditions affecting the acquisition, development, ownership or use of real estate; our capital spending; actions of vendors; our ability to attract and retain a qualified management team and other team members; costs associated with employees (generally including health care costs), energy and certain commodities, geopolitical conditions (including tariffs); changes in our product mix or in our revenues from gasoline sales; our failure to successfully maintain a relevant digital experience for our members; risks related to our growth strategy to open new clubs; risks related to our e-commerce business; our ability to grow our BJ’s One Mastercard® program; and other important factors discussed under the caption “Risk Factors” in our Form 10-K filed with the U.S. Securities and Exchange Commission (“SEC”) on March 12, 2026, and subsequent filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such

forward-looking statements represent management’s estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, unless required by law, we disclaim any obligation to do so, even if subsequent events cause our views to change. Thus, one should not assume that our silence over time means that actual events are bearing out as expressed or implied in such forward-looking statements. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.

Non-GAAP Financial Measures

We refer to certain financial measures that are not recognized under United States generally accepted accounting principles (“GAAP”). Please see “Note Regarding Non-GAAP Financial Information” and “Reconciliation of GAAP to Non-GAAP Financial Information” below for additional information and a reconciliation of the Non-GAAP financial measures to the most comparable GAAP financial measures.

BJ'S WHOLESALE CLUB HOLDINGS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Amounts in thousands, except per share amounts)

(Unaudited)

Thirteen Weeks Ended

May 2, 2026 May 3, 2025

Net sales $ 5,529,145 $ 5,033,094

Membership fee income 132,355 120,389

Total revenues 5,661,500 5,153,483

Cost of sales 4,633,599 4,183,984

Selling, general and administrative expenses 806,010 760,880

Pre-opening expenses 13,978 4,974

Operating income 207,913 203,645

Interest expense, net 12,367 11,099

Income before income taxes 195,546 192,546

Provision for income taxes 52,820 42,778

Net income $ 142,726 $ 149,768

Income per share attributable to common stockholders—basic: $ 1.11 $ 1.14

Income per share attributable to common stockholders—diluted: $ 1.10 $ 1.13

Weighted-average number of shares outstanding:

Basic 128,650 131,569

Diluted 129,383 132,749

BJ'S WHOLESALE CLUB HOLDINGS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(Amounts in thousands, except per share amounts)

(Unaudited)

May 2, 2026 May 3, 2025

ASSETS

Current assets:

Cash and cash equivalents $ 27,826 $ 39,484

Accounts receivable, net 319,936 240,419

Merchandise inventories 1,668,263 1,567,032

Prepaid expense and other current assets 198,876 81,833

Total current assets 2,214,901 1,928,768

Operating lease right-of-use assets, net 2,004,451 2,065,890

Property and equipment, net 2,534,420 1,988,290

Goodwill 1,008,816 1,008,816

Intangibles, net 94,239 99,697

Deferred income taxes 4,593 7,615

Other assets 67,578 58,596

Total assets $ 7,928,998 $ 7,157,672

LIABILITIES

Current liabilities:

Short-term debt $ 375,000 $ 150,000

Current portion of operating lease liabilities 181,994 169,568

Accounts payable 1,438,931 1,255,867

Accrued expenses and other current liabilities 1,048,934 934,974

Total current liabilities 3,044,859 2,510,409

Long-term operating lease liabilities 1,905,325 1,977,180

Long-term debt 399,172 398,880

Deferred income taxes 68,228 55,386

Other non-current liabilities 385,155 244,232

STOCKHOLDERS' EQUITY 2,126,259 1,971,585

Total liabilities and stockholders' equity $ 7,928,998 $ 7,157,672

BJ'S WHOLESALE CLUB HOLDINGS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Amounts in thousands, except per share amounts)

(Unaudited)

Thirteen Weeks Ended

May 2, 2026 May 3, 2025

CASH FLOWS FROM OPERATING ACTIVITIES

Net income $ 142,726 $ 149,768

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation and amortization 76,452 69,665

Amortization of debt issuance costs and accretion of original issue discount 273 273

Stock-based compensation expense 13,280 10,654

Deferred income tax provision (benefit) 3,173 (4,913)

Changes in operating leases and other non-cash items (30,631) (24,397)

Increase (decrease) in cash due to changes in:

Accounts receivable, net (51,300) 39,735

Merchandise inventories (112,792) (58,044)

Accounts payable 131,526 2,355

Accrued expenses and other current liabilities 24,446 24,783

Other operating assets and liabilities, net (57,195) (1,786)

Net cash provided by operating activities 139,958 208,093

CASH FLOWS FROM INVESTING ACTIVITIES

Additions to property and equipment, net of disposals and proceeds from sale-leaseback transactions (182,004) (140,497)

Other investing activities (2,630) (1,794)

Net cash used in investing activities (184,634) (142,291)

CASH FLOWS FROM FINANCING ACTIVITIES

Proceeds from revolving lines of credit 320,000 66,000

Payments on revolving lines of credit (65,000) (91,000)

Net cash received from stock option exercises 125 5,014

Acquisition of treasury stock (225,717) (41,305)

Net (payments on) proceeds from financing obligations (73) 8,721

Other financing activities (3,078) (2,020)

Net cash provided by (used in) financing activities 26,257 (54,590)

Net (decrease) increase in cash and cash equivalents (18,419) 11,212

Cash and cash equivalents at beginning of period 46,245 28,272

Cash and cash equivalents at end of period $ 27,826 $ 39,484

Note Regarding Non-GAAP Financial Information

This press release includes financial measures that are not calculated in accordance with GAAP, including adjusted net income, adjusted net income per diluted share (“adjusted EPS”), adjusted EBITDA, adjusted free cash flow, net debt, net debt to last twelve months (“LTM”) adjusted EBITDA, and comparable club sales.

We define adjusted net income as net income as reported, adjusted for non-recurring, infrequent, or unusual changes, including restructuring charges, and other adjustments that the Company believes appropriate, net of the tax impact of such adjustments.

We define adjusted EPS as adjusted net income divided by the weighted-average diluted shares outstanding.

We define adjusted EBITDA as net income before interest expense, net, provision for income taxes, and depreciation and amortization, adjusted for the impact of certain other items, including stock-based compensation expense, restructuring, and other adjustments.

We define adjusted free cash flow as net cash provided by operating activities less additions to property and equipment, net of disposals, plus proceeds from sale-leaseback transactions.

We define net debt as total debt outstanding less cash and cash equivalents.

We define net debt to LTM adjusted EBITDA as net debt at the balance sheet date divided by adjusted EBITDA for the trailing twelve-month period.

We present adjusted net income, adjusted EPS, and adjusted EBITDA, which are not recognized financial measures under GAAP, because we believe such measures assist investors and analysts in comparing our operating performance across reporting periods on a consistent basis by excluding items that we do not believe are indicative of our core operating performance.

We believe that adjusted net income, adjusted EPS, and adjusted EBITDA are helpful in highlighting trends in our core operating performance compared to other measures, which can differ significantly depending on long-term strategic decisions regarding capital structure, the tax jurisdictions in which companies operate, and capital investments. We use adjusted net income, adjusted EPS, and adjusted EBITDA to supplement GAAP measures of performance in the evaluation of the effectiveness of our business strategies; to make budgeting decisions; and to compare our performance against that of other peer companies using similar measures. We also use adjusted EBITDA and adjusted EPS in connection with establishing annual and long-term incentive compensation.

We present adjusted free cash flow, which is not a recognized financial measure under GAAP, because we use it to report to our Board of Directors and we believe it assists investors and analysts in evaluating our liquidity. Adjusted free cash flow should not be considered as an alternative to cash flows from operations as a liquidity measure. We present net debt and net debt to LTM adjusted EBITDA, which are not recognized as financial measures under GAAP, because we use them to report to our Board of Directors and we believe they assist investors and analysts in evaluating our borrowing capacity. Net debt to LTM adjusted EBITDA is a key financial measure that is used by management to assess the borrowing capacity of the Company.

You are encouraged to evaluate these adjustments and the reasons we consider them appropriate for supplemental analysis. In evaluating adjusted net income, adjusted EPS, adjusted EBITDA, and net debt to LTM adjusted EBITDA, you should be aware that in the future we may incur expenses that are the same as or like some of the adjustments in our presentation of these metrics. Our presentation of adjusted net income, adjusted EPS, adjusted EBITDA, adjusted free cash flow, net debt, and net debt to LTM adjusted EBITDA should not be considered as alternatives to any other measure derived in accordance with GAAP and they should not be construed as an inference that the Company’s future results will be unaffected by unusual or non-recurring items. There can be no assurance that we will not modify the presentation of adjusted net income, adjusted EPS, adjusted EBITDA, or net debt to LTM adjusted EBITDA in the future, and any such modification may be material. In addition, adjusted net income, adjusted EPS, adjusted EBITDA, adjusted free cash flow, net debt, and net debt to LTM adjusted EBITDA may not be comparable to similarly titled measures used by other companies in our industry or across different industries. Additionally, adjusted net income, adjusted EPS, adjusted EBITDA, adjusted free cash flow, net debt, and net debt to LTM adjusted EBITDA have limitations as analytical tools, and you should not consider them in isolation or as a substitute for analysis of our results as reported under GAAP.

In reliance on the unreasonable efforts exception provided under Item 10(e)(1)(i)(B) of Regulation S-K, the Company does not provide a reconciliation for non-GAAP estimates on a forward-looking basis, including of its projected range for adjusted EPS for Fiscal 2026 to net income per diluted share, which is the most directly comparable GAAP measure, under “Fiscal 2026 Ending January 30, 2027” above, where it is unable to provide a meaningful or accurate calculation or estimation of reconciling items or there are no meaningful adjustments to be presented in the reconciliation and the information is not available without unreasonable effort. This is due to the inherent difficulty of forecasting the timing and/or amount of various items that would impact net income per diluted share, if any. This includes items that have not yet occurred, are out of the Company's control, cannot be reasonably predicted and/or for which there would not be any meaningful adjustment or difference. For the same reasons, the Company is unable to address the probable significance of the unavailable information. The information under “Fiscal 2026 Ending January 30, 2027” above, including expectations about adjusted EPS reflects management’s view of current and future market conditions. To the extent actual results differ from our current expectations, the Company’s results may differ materially from the expectations set forth above. Other factors, as referenced elsewhere in this press release, may also cause the Company’s results to differ materially from the expectations set forth above.

Reconciliation of GAAP to Non-GAAP Financial Information

BJ'S WHOLESALE CLUB HOLDINGS, INC.

Reconciliation of net income to adjusted net income and adjusted EPS

(Amounts in thousands, except per share amounts)

(Unaudited)

Thirteen Weeks Ended

May 2, 2026 May 3, 2025

Net income as reported $ 142,726 $ 149,768

Adjustments:

Restructuring (a)

— 1,537

Tax impact of adjustments to net income (b)

— (430)

Adjusted net income $ 142,726 $ 150,875

Weighted-average diluted shares outstanding 129,383 132,749

Adjusted EPS (c)

$ 1.10 $ 1.14

(a)Represents charges related to the restructuring of certain corporate and club functions, including costs for severance, retention, outplacement, consulting fees, and other third-party fees.

(b)Represents the tax effect of the above adjustments at a statutory tax rate of approximately 28%.

(c)Adjusted EPS is measured using weighted-average diluted shares outstanding.

BJ'S WHOLESALE CLUB HOLDINGS, INC.

Reconciliation to adjusted EBITDA

(Amounts in thousands)

(Unaudited)

Thirteen Weeks Ended

May 2, 2026 May 3, 2025

Net income $ 142,726 $ 149,768

Interest expense, net 12,367 11,099

Provision for income taxes 52,820 42,778

Depreciation and amortization 76,452 69,665

Stock-based compensation expense 13,280 10,654

Restructuring (a)

— 1,537

Other adjustments (b)

425 335

Adjusted EBITDA $ 298,070 $ 285,836

(a)Represents charges related to the restructuring of certain corporate and club functions, including costs for severance, retention, outplacement, consulting fees, and other third-party fees.

(b)Other non-cash items, including non-cash accretion on asset retirement obligations and obligations associated with our post-retirement medical plan.

BJ'S WHOLESALE CLUB HOLDINGS, INC.

Reconciliation to adjusted free cash flow

(Amounts in thousands)

(Unaudited)

Thirteen Weeks Ended

May 2, 2026 May 3, 2025

Net cash provided by operating activities $ 139,958 $ 208,093

Less: Additions to property and equipment, net of disposals (182,004) (140,497)

Plus: Proceeds from sale-leaseback transactions — —

Adjusted free cash flow $ (42,046) $ 67,596

BJ'S WHOLESALE CLUB HOLDINGS, INC.

Reconciliation of net debt and net debt to LTM adjusted EBITDA

(Amounts in thousands)

(Unaudited)

May 2, 2026

Total debt $ 774,172

Less: Cash and cash equivalents (27,826)

Net debt $ 746,346

Net income $ 571,335

Interest expense, net 43,661

Provision for income taxes 205,876

Depreciation and amortization 295,381

Stock-based compensation expense 49,826

Restructuring 2,538

Other adjustments 1,196

Adjusted EBITDA (a)

$ 1,169,813

Net debt to LTM adjusted EBITDA 0.6x

(a) See descriptions of adjustments in the “Reconciliation to Adjusted EBITDA (unaudited)” table above.

Investor Contact:

Diana Rashkow

Vice President, Investor Relations

drashkow@bjs.com

774-512-6172

Media Contact:

Kirk Saville

Head of Corporate Communications

ksaville@bjs.com

774-512-5597

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No definition available.

+ Details

Name:

dei_EntityAddressAddressLine1

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Name of the City or Town

+ References

No definition available.

+ Details

Name:

dei_EntityAddressCityOrTown

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Code for the postal or zip code

+ References

No definition available.

+ Details

Name:

dei_EntityAddressPostalZipCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Name of the state or province.

+ References

No definition available.

+ Details

Name:

dei_EntityAddressStateOrProvince

Namespace Prefix:

dei_

Data Type:

dei:stateOrProvinceItemType

Balance Type:

Period Type:

duration

- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityCentralIndexKey

Namespace Prefix:

dei_

Data Type:

dei:centralIndexKeyItemType

Balance Type:

Period Type:

duration

- Definition

Indicate if registrant meets the emerging growth company criteria.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityEmergingGrowthCompany

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

+ References

No definition available.

+ Details

Name:

dei_EntityFileNumber

Namespace Prefix:

dei_

Data Type:

dei:fileNumberItemType

Balance Type:

Period Type:

duration

- Definition

Two-character EDGAR code representing the state or country of incorporation.

+ References

No definition available.

+ Details

Name:

dei_EntityIncorporationStateCountryCode

Namespace Prefix:

dei_

Data Type:

dei:edgarStateCountryItemType

Balance Type:

Period Type:

duration

- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityRegistrantName

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityTaxIdentificationNumber

Namespace Prefix:

dei_

Data Type:

dei:employerIdItemType

Balance Type:

Period Type:

duration

- Definition

Local phone number for entity.

+ References

No definition available.

+ Details

Name:

dei_LocalPhoneNumber

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

+ Details

Name:

dei_PreCommencementIssuerTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

+ Details

Name:

dei_PreCommencementTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Title of a 12(b) registered security.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

+ Details

Name:

dei_Security12bTitle

Namespace Prefix:

dei_

Data Type:

dei:securityTitleItemType

Balance Type:

Period Type:

duration

- Definition

Name of the Exchange on which a security is registered.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

+ Details

Name:

dei_SecurityExchangeName

Namespace Prefix:

dei_

Data Type:

dei:edgarExchangeCodeItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

+ Details

Name:

dei_SolicitingMaterial

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Trading symbol of an instrument as listed on an exchange.

+ References

No definition available.

+ Details

Name:

dei_TradingSymbol

Namespace Prefix:

dei_

Data Type:

dei:tradingSymbolItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

+ Details

Name:

dei_WrittenCommunications

Namespace Prefix:

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Data Type:

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