BJ's Wholesale Club

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BJ's Wholesale Club Holdings, Inc., commonly referred as BJ's, is an American regional membership-only warehouse club chain based in Marlborough, Massachusetts, operating in the eastern United States in addition to Ohio, Michigan, Louisville, Kentucky, Indiana, Tennessee, Florida and Alabama.[1]

History

The company was started by discount department store chain Zayre 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 Mervyn Weich, the president of the new company.[2][3] Weich announced his resignation as president in June 1987, and left on August 1.[4] He was replaced by John Levy.[5]

When Zayre Corporation sold the Zayre nameplate to rival discount chain Ames in October 1988, TJX Companies was formed. In 1989, TJX spun off their warehouse division, consisting of BJ's and now-defunct HomeClub (later known as HomeBase, then House2Home), to form Waban, Inc. In August 1997, Waban spun off BJ's to become an independent company, BJ's Wholesale Club, Inc., headquartered in Natick, Massachusetts, while Waban renamed itself to HomeBase, Inc.[6]

In 2011, BJ's was acquired by two private equity firms, Leonard Green & Partners and CVC Capital Partners.[7] It returned to being a public company in 2018.[8]

In 2019, BJ's expanded into Michigan, with a new store in Madison Heights. A second and a third Michigan location have since opened in Taylor and Chesterfield Township, respectively. BJ's has also since opened locations in Canton and Lansing.

Today

File:BJs Wholesale Club VA.jpg
BJ's Wholesale Club in Virginia

Many of BJ's clubs offer special services to members, such as car rentals, gas stations, home heating oil, an optical department, propane filling, and vacation packages. These services vary from location to location. since 2008Template:Dated maintenance category (articles)Script error: No such module "Check for unknown parameters"., there were 154 clubs with optical departments.Script error: No such module "Unsubst". since January 30, 2010Template:Dated maintenance category (articles)Script error: No such module "Check for unknown parameters". BJ's operated 104 gasoline stations at their clubs.[1] In February 2007, BJ's closed all pharmacies in its clubs.[9]

In March 2010, BJ's announced they would move their corporate headquarters from Natick to Westborough, Massachusetts in 2011.[1][10] On January 5, 2011, BJ's announced it would close five underperforming stores in the Southeast, eliminate approximately 100 headquarters jobs by the end of the month, and restructure its home office and some field operations. Its restructuring moves would result in savings of 78 to 82 cents per share for its fiscal fourth quarter.[11][12]

On December 19, 2019, BJ's named Lee Delaney as its next CEO starting February 2, 2020. Delaney had been an executive vice president and chief growth officer of the company since 2016. Then CEO Chris Baldwin became executive chairman.[13] Following Delaney's death on April 8, 2021, BJ's financial chief Bob Eddy took over as interim CEO.[14] On April 20, 2021, Bob Eddy’s interim status was removed and he was given the permanent CEO position.[15]

In November 2021, BJ’s announced plans for its first store in Tennessee, to be located in La Vergne, a suburb of Nashville.[16] The store opened on June 14, 2023. The company has announced plans for at least two additional stores in the Nashville market, with confirmed locations being added in Goodlettsville[17] and Mt. Juliet.[18]

since May 2025Template:Dated maintenance category (articles)Script error: No such module "Check for unknown parameters"., BJ's operates 250 BJ's clubs in 21 states and employed approximately 25,000 team members (both full- and part-time).[19] Its major competitors are Costco Wholesale and Sam's Club.

Locations

File:BJ's store locations.png
Map of BJ's locations as of May 2022.

since September 2024Template:Dated maintenance category (articles)Script error: No such module "Check for unknown parameters"., BJ's has 263 locations across 21 states:[20] BJ's utilizes three cross-dock distribution centers along with third-party warehouse space when extra storage is needed.[1]

Finances

For the fiscal year 2023, BJ's reported earnings of $19.968 billion, with a net income of $523.741 million .[21]

Year Revenue

in Template:Abbreviation US$

Net income

in Template:Abbreviation US$

Price per Share

in US$ (year end)[22]

Warehouses Employees Ref(s)
2014 12,731,270 19,013 - 207 [23]
2015 12,467,553 24,104 - 213 [23]
2016 12,350,537 44,224 - 214 [23]
2017 12,754,589 50,301 - 215 [23]
2018 13,007,347 127,261 - 216 26,383 [23]
2019 13,190,707 187,176 22.74 217 27,231 [24]
2020 15,430,017 421,030 37.28 221 32,000 [25]
2021 16,667,302 426,652 66.97 34,000 [26]
2022 19,315,165 513,177 66.16 34,000 [27]
2023 19,968,689 523,741 66.66 34,000 [21]

On May 17th, 2018, BJ's filed to return to the public market.[28] The shares opened at $21.25; in its IPO, BJ's sold 37.5 million shares, raising net proceeds of $637.5 million.[29]

Brands

BJ's Wholesale Club regularly markets numerous products under its own private labels—including products by Richelieu Foods.[30] Unlike its competitors (such as Costco's Kirkland Signature line and Sam's Club's Member's Mark brand), BJ's uses multiple private label brands depending on merchandise segment. Grocery products are primarily branded as Wellsley Farms, while general merchandise (including clothing, pharmacy, and home goods) items are sold under the Berkley-Jensen name (formerly 'Berkley & Jensen').[31]

References

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External links

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