BJ's Wholesale Club Holdings, Inc., or simply BJ's, is an American membership-only warehouse club company established in Westborough, Massachusetts.

Table of Content

Incisiv Digital Performance Rank About BJ's Wholesale Club Financial Year 2021: Key Takeaways Current Quarterly Performance Digital Timeline
 

Incisiv Digital Performance Rank

Overall Rank: Leader
Research & Discovery: Leader
Online Ordering: Leader
Fulfillment: Leader
Service: Challenger

 

About BJ's Wholesale Club

BJ's Wholesale Club Holdings, Inc., or simply BJ's, is an American membership-only warehouse club company established in Westborough, Massachusetts, with locations on the East Coast as well as Ohio and Michigan, and ambitions to expand into Indiana. Zayre, a discounted department store chain, started a company in 1984 on the Medford/Malden border in Massachusetts.  The company's name was derived from the initials of Beverly Jean Weich, the daughter of the new company's president, Mervyn Weich.

Number of geographic locations covered 229 clubs

Number of wholesale Gas Station 160

Number of members 6.5 Million

Source: BJ's Wholesale Club

 

Financial Year 2021: Key Takeaways

  • Comparable club sales, excluding gasoline sales, fell 5.0 percent year over year in the first quarter of fiscal 2021, showing a two-year stacked comp club sales loss of 22.0 %
  • For the first quarter of fiscal 2021, digitally enabled sales increased by 31%, resulting in a two-year stacked comp rise of 381 %
  • Income from continuing operations decreased 14.8% year-over-year to $81.6 million for the first quarter of fiscal 2021
  • Total comparable sales increased by 4.0%, reflecting two year stacked comp of 21.2%.
  • Digitally enabled sales increased by 4%, showing a 304 percent two-year stacked comp gain. New services, such as curbside collection, are being aggressively adopted by members
  • BJ’s common stock began trading on the NYSE under the symbol "BJ" on June 28, 2018. As of the end of business on March 10, 2022, the trading price of it’s common stock closed at $60.23 per share
  • BJ’s has grown it’s membership fee income each year for the past two decades. It’s membership fee income totaled $360.9 million in fiscal year 2021. Also it’s membership renewal rate, a key indicator of membership engagement, satisfaction and loyalty, was 89% at the end of fiscal year 2021
  • Paper products, cleaning supplies, and dairy were among the supermarket categories impacted by the COVID-19 epidemic and supply chain issues, resulting in lower sales. Apparel, toys, tyres, and indoor furnishings were the most popular items in general merchandise and services

‍Source:BJ's Wholesale Club, Inc. - Financials & Filings - Annual Reports and Proxy Statements

Current Quarterly Performance

 

Digital Timeline

2021
  • BJ's strives to provide easy member experiences through its digital prowess, which has grown to account for over 8% of the company's revenue
  • For the first time in financial year 2021, digitally-enabled sales reached $1 billion, representing a 22 percent year-over-year increase and a two-year stack of over 250 percent
  • In addition to Pickup in Club, Buy Online, same-day delivery, and curbside pickup, BJ's has added Express Pay – the option to skip lines in-store and self-checkout via mobile app – to its digital offerings in FY 2021
  • Members can now buy and review products, and add coupons to the membership cards digitally, as well as view annual member savings
  • Curbside delivery, BOPIC service, conventional ship-to-home service, and same-day home delivery are all available to BJ's members through the above digital portfolio
  • BJ's has made it possible to shop on BJs.com using state Electronic Benefit Transfer ("EBT") cards
  • BJ's launched ExpressPay® in the last quarter of FY 2021, allowing members to skip checkout lines by making payments through phones while shopping in the club
2020
  • BJ's digital business has grown to over six times its size at the time of its IPO, exceeding the company's high expectations
  • The app has had over five million downloads, and 30% of its members utilise it on a regular basis
  • With the advent of curbside pickup and the extension of Buy Online and Pick Up In-Club (BOPIC) to encompass fresh and frozen items, BJ's has increased its digital fulfilment possibilities in 2020
  • The company has seen a lot of interest in these choices, and more than half of its BOPIC orders were shipped curbside in the last quarter of 2020
  • The simplicity of the BJ's mobile app is appreciated by members, as demonstrated by more than five million downloads since financial year 2019
  • BJ's started rolling out a multi-phase strategy in the last quarter of financial year 2020 to allow its members to benefit from Electronic Benefit Transfer ("EBT") payment while purchasing on BJs.com
2019
  • BJ's has enhanced its acquisition analytics and moved its efforts to digital channels in 2019, more than doubling the percentage of members recruited through digital channels year over year
  • BJ's goal was to keep innovating with personalized techniques while also connecting its marketing to enhance the company's omnichannel capabilities, generate higher-tier penetration, and increase spend per member
  • BJ's will also improve and expand its digital marketing capabilities, allowing it to communicate with current and potential members across all digital channels
  • BerkleyJensen.com, BJs.com, Delivery.bjs.com, Wellsleyfarms.com, and the BJ's mobile app are all part of BJ's digital portfolio
  • Members can now buy and review products, and add coupons to the membership cards digitally
  • In seven states, BJ's has expanded same-day grocery delivery to also include wine, beer, and liquor. Newer products, such as stocked two-day shipping, memberships, and online contact lenses, are also connecting with its members
  • The ease of BJ's mobile app is appreciated by members, as proven by more than 2.2 million downloads
  • BJ's has also extended its mobile deli pre-ordering service to the entire of New York, New Jersey clubs, and Boston, allowing Members to place deli orders ahead of time and save time at their local club
2018
  • BJ's has placed a special emphasis on obtaining members through digital media, which is critical for attracting younger families that are new to the club scene
  • As the company demonstrates its transformation and modern digital convenience capabilities, BJ's is shifting its focus on reconnecting with its lapsed members
  • BJ's modernized and relaunched BJs.com during the last year, marking the company's largest digital overhaul in over a decade
  • BJ's also upgraded and released its mobile app, as well as its online coupons, buy online, pick up in club, and same-day delivery service. Members appreciate the new digital capabilities that make shopping in the clubs and online more convenient
  • BJ's has achieved 1.5 million app downloads in a little more than a year. Members of the company appreciate the extra convenience and savings that digital discounts provide

Source:BJ's Wholesale Club, Inc. - Financials & Filings - Annual Reports and Proxy Statements