"For the 10th consecutive quarter, we drove traffic gains in our business."
— Bob Eddy
03Detailed Report
BJ
BJs Wholesale Club Holdings Inc
Period
Q2 2024
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedMay 27, 2026
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Executive Summary
In the second quarter of fiscal 2024, BJ's Wholesale Club Holdings Inc reported robust revenue of approximately $5.2 billion, reflecting a year-over-year increase of 4.8%. Adjusted earnings per share showed a strong uptick, reaching $1.09, up by 10.1% compared to the prior year. The results showcase the effectiveness of BJ's strategic focus on enhancing membership growth and member satisfaction. Notably, membership fee income surged by 9.1%, driven by the largest member count growth quarter since the pandemic. Management emphasized the importance of continuing to invest in business initiatives, which are intended to deliver long-term value and customer loyalty.
Key Performance Indicators
Revenue
Increasing
5.21B
QoQ: 5.83% | YoY: 5.70%
Gross Profit
Increasing
956.58M
18.38% margin
QoQ: 8.28% | YoY: 5.99%
Operating Income
Increasing
203.68M
QoQ: 26.02% | YoY: 2.16%
Net Income
Increasing
144.99M
QoQ: 30.60% | YoY: 11.13%
EPS
Increasing
1.09
QoQ: 29.76% | YoY: 11.22%
Revenue Trend
Margin Analysis
Financial Highlights
Revenue grew to $5.21 billion, with a gross profit margin of 18.38% compared to 17.79% in Q2 2023. Operating income was reported at $203.7 million (3.9% of sales) showing a sequential improvement. Notable cash flow from operations was $221.4 million. In terms of liquidity, the current ratio is at 0.76, highlighting some short-term liquidity risk in a rapidly changing economic environment. Membership fee income experienced a major growth of 9.1% in Q2 2024, indicating successful retention and acquisition strategies. Net income also saw an impressive increase of 30.6% quarter-over-quarter, indicating strong demand and operational efficiency.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
5.21B
5.70%
5.83%
Gross Profit
956.58M
5.99%
8.28%
Operating Income
203.68M
2.16%
26.02%
Net Income
144.99M
11.13%
30.60%
EPS
1.09
11.22%
29.76%
Key Financial Ratios
Gross Profit Margin
Weak
18.40%
Gross profit margin is below industry norms, profitability concerns
Operating Profit Margin
Weak
3.91%
Operating margin is below industry norms, profitability concerns
Net Profit Margin
Weak
2.79%
Net profit margin is below industry norms, profitability concerns
Return on Assets
Weak
2.09%
Return on assets suggests inefficient capital allocation
Return on Equity
Fair
8.76%
Return on equity is acceptable but below top-tier companies
Current Ratio
Concern
0.76
Current ratio below safe levels, potential liquidity risk
Debt to Equity
High Risk
1.71
Debt-to-equity indicates high leverage and elevated financial risk
P/E Ratio
Fair Value
19.83x
P/E ratio in line with market averages
Price to Book
High Premium
6.95x
Very high premium suggests asset-light business model or lofty expectations
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