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BJ`s Wholesale Club (BJ)

Headquartered in Westborough, Massachusetts, BJ's Wholesale Club Holdings, Inc. is a leading operator of membership warehouse clubs in the Eastern United States. The company currently operates 219 clubs and 149 BJ's Gas® locations in 17 states.

Company profile

Ticker
BJ
Exchange
Website
CEO
Christopher Baldwin
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
Beacon Holding Inc.
SEC CIK
Subsidiaries
BJ’s Wholesale Club, Inc. • BJME Operating Corp. • BJNH Operating Co., LLC • Natick Realty, Inc. • Natick Fifth Realty Corp. • Natick NH Hooksett Realty Corp. • Natick NJ 1993 Realty Corp. • Natick NJ Flemington Realty Corp. • Natick NJ Manahawkin Realty Corp. • Natick NJ Realty Corp. ...
IRS number
452936287

BJ stock data

Analyst ratings and price targets

Last 3 months

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

27 May 22
18 Aug 22
28 Jan 23
Quarter (USD) Apr 22 Jan 22 Oct 21 Jul 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Jan 22 Jan 21 Jan 20 Feb 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 37.95M 37.95M 37.95M 37.95M 37.95M 37.95M
Cash burn (monthly) 2.49M 2.08M (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 9.1M 7.6M n/a n/a n/a n/a
Cash remaining 28.85M 30.35M n/a n/a n/a n/a
Runway (months of cash) 11.6 14.6 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
3 Aug 22 Monica Schwartz Common Stock Payment of exercise Dispose F No No 69.48 2,708 188.15K 39,492
8 Jul 22 Desroches Jeff Common Stock Sell Dispose S No No 67.22 3,203 215.31K 93,597
8 Jul 22 Desroches Jeff Common Stock Sell Dispose S No No 66.4 11,797 783.32K 96,800
5 Jul 22 Werner William C. Common Stock Sell Dispose S No Yes 65.11 1,201 78.2K 37,361
5 Jul 22 Werner William C. Common Stock Sell Dispose S No Yes 64.5 18,799 1.21M 38,562
21 Jun 22 Kessler Scott Common Stock Sell Dispose S No Yes 60.27 2,125 128.07K 124,481
17 Jun 22 Baldwin Christopher J Common Stock Payment of exercise Dispose F No No 57.98 5,350 310.19K 240,530
16 Jun 22 Baldwin Christopher J RSU Common Stock Grant Acquire A No No 0 3,412 0 3,412
97.0% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 411 374 +9.9%
Opened positions 85 60 +41.7%
Closed positions 48 62 -22.6%
Increased positions 141 124 +13.7%
Reduced positions 146 149 -2.0%
13F shares Current Prev Q Change
Total value 8.18B 9.21B -11.2%
Total shares 131.19M 136.34M -3.8%
Total puts 300.6K 657.3K -54.3%
Total calls 553.8K 526K +5.3%
Total put/call ratio 0.5 1.2 -56.6%
Largest owners Shares Value Change
Vanguard 13.49M $840.64M -3.3%
BLK Blackrock 11.69M $728.35M -23.9%
FMR 11.23M $699.74M -29.5%
Putnam Investments 5.12M $318.89M +2.9%
Clearbridge Advisors 5.02M $313.06M +0.1%
River Road Asset Management 3.77M $234.7M +25.9%
JPM JPMorgan Chase & Co. 3.74M $233.04M -10.1%
STT State Street 3.67M $228.64M -17.5%
MCQEF Macquarie 2.88M $179.46M -10.0%
IVZ Invesco 2.7M $168.56M +21.8%
Largest transactions Shares Bought/sold Change
FMR 11.23M -4.7M -29.5%
BLK Blackrock 11.69M -3.66M -23.9%
Bessemer 1.87M +1.87M +2707714.5%
Fiduciary Management 1.98M +1.05M +112.3%
Millennium Management 1.38M +1M +268.2%
NTRS Northern Trust 990.07K -825.28K -45.5%
Marshall Wace 804.64K +804.64K NEW
STT State Street 3.67M -776.94K -17.5%
River Road Asset Management 3.77M +774.42K +25.9%
Lord, Abbett & Co. 2.66M -764.67K -22.3%

Financial report summary

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Competition
Costco Wholesale
Risks
  • Our business may be affected by issues that affect consumer spending.
  • We depend on having a large and loyal membership, and any harm to our relationship with our members could have a material adverse effect on our business, net sales and results of operations.
  • Our business plan and operating results depend on our ability to procure the merchandise we sell at the best possible prices.
  • We depend on vendors to supply us with quality merchandise at the right time and at the right price.
  • Competition may adversely affect our profitability.
  • Changes in laws related to the Supplemental Nutrition Assistance Program ("SNAP"), to the governmental administration of SNAP or to SNAP’s EBT systems could adversely impact our results of operations.
  • Natural disasters and other incidents beyond our control could negatively affect our business, financial condition and results of operations.
  • Disruptions in our merchandise distribution, including disruption through a third-party perishables consolidator, could adversely affect sales and member satisfaction.
  • We may not timely identify or respond effectively to consumer trends, which could negatively affect our relationship with our members, the demand for our products and services and our market share.
  • We are subject to payment-related risks, including risks to the security of payment card information.
  • We rely extensively on information technology to process transactions, compile results and manage our businesses. Failure or disruption of our primary and back-up systems could adversely affect our businesses.
  • Union attempts to organize our team members could disrupt our business.
  • Our comparable club sales and quarterly operating results may fluctuate significantly.
  • Changes in our product mix or in our revenues from gasoline sales could negatively impact our revenue and results of operations.
  • Product recalls could adversely affect our sales and results of operations.
  • If we do not successfully maintain a relevant omnichannel experience for our members, our results of operations could be adversely impacted.
  • We depend on the financial performance of our operations in the New York metropolitan area.
  • Our growth strategy to open new clubs involves risks.
  • Because we compete to a substantial degree on price, changes affecting the market prices of the goods we sell could adversely affect our net sales and operating profit.
  • Any harm to the reputation of our private label brands could have a material adverse effect on our results of operations.
  • We may not be able to protect our intellectual property adequately, which, in turn, could harm the value of our brand and adversely affect our business.
  • Our business is moderately seasonal and weak performance during one of our historically strong seasonal periods could have a material adverse effect on our operating results for the entire fiscal year.
  • Implementation of technology initiatives could disrupt our operations in the near term and fail to provide the anticipated benefits.
  • Inventory shrinkage could have a material adverse effect on our business, financial condition and results of operations.
  • We are subject to risks associated with leasing substantial amounts of space.
  • Non-compliance with privacy and information security laws, especially as it relates to maintaining the security of member-related personal information, may damage our business and reputation with members, or result in our incurring substantial additional costs and becoming subject to litigation.
  • Federal, state, regional and local laws and regulations relating to the cleanup, investigation, use, storage, discharge and disposal of hazardous materials, hazardous and non-hazardous wastes and other environmental matters could adversely impact our business, financial condition and results of operations.
  • Our e-commerce business faces distinct risks, and our failure to successfully manage it could have a negative impact on our profitability.
  • We are subject to a number of risks because we import some of our merchandise.
  • Because of our international sourcing, we could be adversely affected by violations of the U.S. Foreign Corrupt Practices Act and similar worldwide anti-bribery and anti-kickback laws.
  • Factors associated with climate change could adversely affect our business.
  • Changes in accounting standards and subjective assumptions, estimates and judgments by management related to complex accounting matters could significantly affect our financial condition and results of operations.
  • Goodwill and identifiable intangible assets represent a significant portion of our total assets, and any impairment of these assets could adversely affect our results of operations.
  • We are a holding company with no operations of our own, and we depend on our subsidiaries for cash.
  • We face risks related to our indebtedness.
  • The ABL Facility and First Lien Term Loan impose significant operating and financial restrictions on us and our subsidiaries that may prevent us from pursuing certain business opportunities and restrict our ability to operate our business.
  • We may be unable to generate sufficient cash flow to satisfy our debt service obligations, which could have a material adverse effect on our business, financial condition and results of operations.
  • The discontinuation of LIBOR and the replacement of LIBOR with an alternative reference rate may adversely affect our borrowing costs and could impact our business and results of operations.
  • The market price of our common stock may fluctuate significantly.
  • Our ability to raise capital in the future may be limited.
  • We cannot guarantee that we will repurchase our common stock pursuant to our share repurchase program or that our share repurchase program will enhance long-term shareholder value. Share repurchases could also increase the volatility of the price of our common stock and could diminish our cash reserves.
  • If securities or industry analysts do not publish or cease publishing research or reports about us, or if they issue unfavorable commentary about us or our industry or downgrade our common stock, the price of our common stock could decline.
  • Some provisions of our charter documents and Delaware law may have anti-takeover effects that could discourage an acquisition of us by others, even if an acquisition would be beneficial to our shareholders, and may prevent attempts by our shareholders to replace or remove our current management.
  • We are exposed to risks relating to evaluations of controls required by Section 404 of the Sarbanes-Oxley Act.
  • We do not currently expect to pay any cash dividends.
  • Our amended and restated certificate of incorporation designates the Court of Chancery of the State of Delaware as the exclusive forum for certain litigation that may be initiated by our shareholders, which could limit our shareholders’ ability to obtain a favorable judicial forum for disputes with us.
  • Our success depends on our ability to attract and retain a qualified management team and other team members while controlling our labor costs.
  • Insurance claims could adversely impact our results of operations.
  • Certain legal proceedings could adversely impact our results of operations.
  • We could be subject to additional income tax liabilities.
Management Discussion
  • Net sales are derived from direct retail sales to customers in our clubs and online, net of merchandise returns and discounts. Growth in net sales is impacted by opening new clubs and increases in comparable club sales. Net sales for fiscal year 2021 were $16.3 billion, an 8.0% increase from net sales reported for fiscal year 2020 of $15.1 billion. The increase was due primarily to a 6.5% increase in comparable club sales and incremental sales from new clubs opened over the past two years. 
  • We believe net sales is an important driver of our profitability, particularly comparable club sales. Comparable sales growth is a function of increasing shopping frequency from new and existing members and the amount they spend on each visit. Sales comparisons can be influenced by certain factors that are beyond our control such as changes in the cost of gasoline and macro-economic factors such as inflation. The higher comparable club sales, the more we can leverage certain of our selling, general and administrative (SG&A) expenses, reducing them as a percentage of sales and enhancing profitability.
  • Merchandise comparable club sales decreased (0.5)% in fiscal year 2021. The decrease was driven by a decrease in sales of groceries of 1.7% and growth in sales of general merchandise and services of approximately 5.7%.

Content analysis

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Positive
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H.S. freshman Avg
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