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BJ's Wholesale Club — Aug 22, 2025 release

Fiscal 2026 second-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001531152-25-000097
Open on SEC.gov ↗
Showing in the filing
Comparable club sales, excluding the impact of gasoline sales
“increase 2.0% to 3.5% year-over-year”
Period
FY2025
Measure
Company-defined measure
Source
Prose
All guidance in this release · 3
Comparable club sales, excluding the impact … for FY2025
“increase 2.0% to 3.5% year-over-year”
Adjusted EPS for FY2025
“$4.20 to $4.35”
Capital expenditures for FY2025
“approximately $800 million”
Exhibit 99.1 · full document
. Exhibit 99.1 BJ’s Wholesale Club Holdings, Inc. Announces Second Quarter Fiscal 2025 Results BJ’s raises FY 2025 EPS guide as momentum continues; Company reaches milestone of 8 million members Second Quarter Fiscal 2025 Highlights • Comparable club sales decreased by 0.3% year-over-year due to declining retail prices of fuel • Comparable club sales, excluding gasoline sales, increased by 2.3% year-over-year, led by traffic growth • Membership fee income increased by 9.0% year-over-year to $123.3 million • Member count grew to a record 8 million members • Digitally enabled comparable sales growth was 34%, reflecting two-year stacked comp growth of 56% • Earnings per diluted share and adjusted earnings per diluted share (a) of $1.14 Marlborough, Mass.  (August 22, 2025) – BJ’s Wholesale Club Holdings, Inc. (NYSE: BJ) (the “Company”) today announced its financial results for the thirteen weeks and twenty-six ended August 2, 2025. “Our business model continues to perform and build upon momentum, as we grow membership and gain market share even in a dynamic environment. We enter the back half of the year on solid footing and confident in our ability to deliver strong results.” said Bob Eddy, Chairman and Chief Executive Officer, BJ’s Wholesale Club. “We are on a powerful trajectory and our teams remain steadfast towards executing on our long-term objectives.” Key Measures for the Thirteen Weeks Ended August 2, 2025 (Second Quarter of Fiscal 2025) and for the Twenty-six Weeks Ended August 2, 2025 (First Six Months of Fiscal 2025): BJ'S WHOLESALE CLUB HOLDINGS, INC. (Amounts in thousands, except per share amounts) Thirteen Weeks Ended August 2, 2025 Thirteen Weeks Ended August 3, 2024 % Growth Twenty-six Weeks Ended August 2, 2025 Twenty-six Weeks Ended August 3, 2024 % Growth Net sales $ 5,256,907  $ 5,092,279  3.2  % $ 10,290,001  $ 9,899,408  3.9  % Membership fee income 123,333  113,116  9.0  % 243,722  224,506  8.6  % Total revenues 5,380,240  5,205,395  3.4  % 10,533,723  10,123,914  4.0  % Operating income 216,530  203,675  6.3  % 420,175  364,430  15.3  % Net income 150,705  144,988  3.9  % 300,473  256,007  17.4  % EPS  (b) 1.14  1.08  5.6  % 2.27  1.91  18.8  % Adjusted net income  (a) 151,456  146,332  3.5  % 302,331  259,740  16.4  % Adjusted EPS  (a) 1.14  1.09  4.6  % 2.28  1.94  17.5  % Adjusted EBITDA  (a) 303,861  281,349  8.0  % 589,697  517,735  13.9  % Basic weighted-average shares outstanding 131,799  132,431  131,684  132,414  Diluted weighted-average shares outstanding 132,517  133,849  132,633  133,980  (a) See “Note Regarding Non-GAAP Financial Information. (b) EPS represents net income per diluted share. 1 . Additional Highlights: • Total comparable club sales decreased by 0.3% and increased by 0.6% in the second quarter and first six months of fiscal 2025, respectively, compared to the same periods in fiscal 2024. Excluding the impact of gasoline sales, comparable club sales increased by 2.3% and 3.1% in the second quarter and first six months of fiscal 2025, respectively, compared to the same periods in fiscal 2024. • Membership fee income increased to $123.3 million in the second quarter of fiscal 2025 compared to $113.1 million in the second quarter of fiscal 2024. Membership fee income increased to $243.7 million in the first six months of fiscal 2025 compared to $224.5 million in the first six months of fiscal 2024. The increase in both comparative periods was primarily driven by strength in membership acquisition, retention and higher tier membership penetration across both new and existing clubs, as well as the increase in annual membership fees which became effective in January 2025. • Gross profit increased to $1.01 billion in the second quarter of fiscal 2025 compared to $956.6 million in the second quarter of fiscal 2024. Merchandise gross margin rate, which excludes gasoline sales and membership fee income, increased by 10 basis points over the same quarter of fiscal 2024. Gross profit increased to $1.98 billion in the first six months of fiscal 2025 compared to $1.84 billion in the first six months of fiscal 2024. Merchandise gross margin rate increased by 20 basis points compared to the first six months of fiscal 2024. The Company continues to manage the business to drive profitable growth across the broader merchandise assortment. • Selling, general and administrative expenses (“SG&A”) increased to $786.4 million in the second quarter of fiscal 2025 compared to $750.3 million in the second quarter of fiscal 2024. SG&A increased to $1.55 billion in the first six months of fiscal 2025 compared to $1.47 billion in the first six months of fiscal 2024. The increase in both comparative periods was primarily driven by increased labor and occupancy costs 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 before income taxes increased to $206.1 million in the second quarter of fiscal 2025 compared to $190.9 million in the second quarter of fiscal 2024. Income before income taxes increased to $398.7 million in the first six months of fiscal 2025 compared to $337.7 million in the first six months of fiscal 2024. • Income tax expense increased to $55.4 million in the second quarter of fiscal 2025 compared to $45.9 million in the second quarter of fiscal 2024. Income tax expense increased to $98.2 million in the first six months of fiscal 2025 compared to $81.7 million in the first six months of fiscal 2024. • Net income increased to $150.7 million in the second quarter of fiscal 2025 compared to $145.0 million in the second quarter of fiscal 2024. Net income increased to $300.5 million in the first six months of fiscal 2025 compared to $256.0 million in the first six months of fiscal 2024. • Adjusted EBITDA increased by 8.0% to $303.9 million in the second quarter of fiscal 2025 compared to $281.3 million in the second quarter of fiscal 2024. Adjusted EBITDA increased by 13.9% to $589.7 million in the first six months of fiscal 2025 compared to $517.7 million in the first six months of fiscal 2024. • Under its existing share repurchase program, the Company repurchased 375,000 shares of common stock, totaling $41.2 million, inclusive of associated costs, in the second quarter of fiscal 2025. In the first six months of fiscal 2025, the Company repurchased 430,000 shares of common stock, totaling $47.4 million, inclusive of associated costs, under such program, and $952.6 million remained available to purchase. 2 . Fiscal 2025 Ending January 31, 2026 Outlook “We are pleased with the performance of business year to date and are confident in the outlook for the back half. We continue to see a top line range aligned with our previous outlook, but we are narrowing and increasing our range on the bottom line” said Laura Felice, Executive Vice President, Chief Financial Officer, BJ’s Wholesale Club. The Company provided an updated outlook for fiscal 2025: • Comparable club sales, excluding the impact of gasoline sales, to increase 2.0% to 3.5% year-over-year • Adjusted EPS to range from $4.20 to $4.35 • Capital expenditures of approximately $800 million Conference Call Details A conference call to discuss the second quarter of fiscal 2025 financial results is scheduled for today, August 22, 2025 , 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) 470-1428 within the U.S. or +1 (929) 526-1599 outside the U.S. and reference conference ID 275128. 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 255 clubs and 190 BJ's Gas ®  locations in 21 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 2025 outlook; our membership fee increases; 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 “expect,” “intend,” “plan,” “confident,” “believe,” “project,” “forecast,” “estimate,” “may,” “should,” “anticipate,” “can” and similar statements 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 14, 2025, 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 3 . 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. 4 . BJ'S WHOLESALE CLUB HOLDINGS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Amounts in thousands, except per share amounts) (Unaudited) Thirteen Weeks Ended August 2, 2025 Thirteen Weeks Ended August 3, 2024 Twenty-six Weeks Ended August 2, 2025 Twenty-six Weeks Ended August 3, 2024 Net sales $ 5,256,907  $ 5,092,279  $ 10,290,001  $ 9,899,408  Membership fee income 123,333  113,116  243,722  224,506  Total revenues 5,380,240  5,205,395  10,533,723  10,123,914  Cost of sales 4,374,065  4,248,819  8,558,049  8,283,948  Selling, general and administrative expenses 786,358  750,323  1,547,238  1,472,094  Pre-opening expenses 3,287  2,578  8,261  3,442  Operating income 216,530  203,675  420,175  364,430  Interest expense, net 10,393  12,755  21,492  26,706  Income before income taxes 206,137  190,920  398,683  337,724  Provision for income taxes 55,432  45,932  98,210  81,717  Net income $ 150,705  $ 144,988  $ 300,473  $ 256,007  Income per share attributable to common stockholders—basic: $ 1.14  $ 1.09  $ 2.28  $ 1.93  Income per share attributable to common stockholders—diluted: $ 1.14  $ 1.08  $ 2.27  $ 1.91  Weighted-average number of shares outstanding: Basic 131,799  132,431  131,684  132,414  Diluted 132,517  133,849  132,633  133,980  5 . BJ'S WHOLESALE CLUB HOLDINGS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Amounts in thousands, except per share amounts) (Unaudited) August 2, 2025 August 3, 2024 ASSETS Current assets: Cash and cash equivalents $ 47,273  $ 38,058  Accounts receivable, net 270,905  248,491  Merchandise inventories 1,520,684  1,546,211  Prepaid expense and other current assets 90,096  82,333  Total current assets 1,928,958  1,915,093  Operating lease right-of-use assets, net 2,054,621  2,150,965  Property and equipment, net 2,068,193  1,697,139  Goodwill 1,008,816  1,008,816  Intangibles, net 98,285  104,370  Deferred income taxes 5,804  3,548  Other assets 67,095  49,971  Total assets $ 7,231,772  $ 6,929,902  LIABILITIES Current liabilities: Short-term debt $ 105,000  $ 217,000  Current portion of operating lease liabilities 173,521  162,777  Accounts payable 1,264,208  1,285,733  Accrued expenses and other current liabilities 891,507  858,240  Total current liabilities 2,434,236  2,523,750  Long-term operating lease liabilities 1,959,378  2,058,071  Long-term debt 398,953  398,586  Deferred income taxes 68,065  70,976  Other non-current liabilities 272,046  223,612  STOCKHOLDERS' EQUITY 2,099,094  1,654,907  Total liabilities and stockholders' equity $ 7,231,772  $ 6,929,902  6 . BJ'S WHOLESALE CLUB HOLDINGS, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Amounts in thousands, except per share amounts) (Unaudited)   Twenty-six Weeks Ended August 2, 2025 Twenty-six Weeks Ended August 3, 2024 CASH FLOWS FROM OPERATING ACTIVITIES Net income $ 300,473  $ 256,007  Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 141,598  128,559  Amortization of debt issuance costs and accretion of original issue discount 546  554  Stock-based compensation expense 24,599  18,926  Deferred income tax provision (benefit) 9,577  (3,274) Changes in operating leases and other non-cash items (22,178) 6,479  Increase (decrease) in cash due to changes in: Accounts receivable, net 12,243  (20,006) Merchandise inventories (11,696) (91,389) Accounts payable 10,696  102,452  Accrued expenses and other current liabilities (9,107) 34,312  Other operating assets and liabilities, net 1,206  (10,422) Net cash provided by operating activities 457,957  422,198  CASH FLOWS FROM INVESTING ACTIVITIES Additions to property and equipment, net of disposals and proceeds from sale-leaseback transactions (303,070) (239,620) Other investing activities (3,086) —  Net cash used in investing activities (306,156) (239,620) CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from revolving lines of credit 131,000  366,000  Payments on revolving lines of credit (201,000) (468,000) Net cash received from stock option exercises 5,014  15,463  Net cash received from Employee Stock Purchase Program 4,449  3,411  Acquisition of treasury stock (82,895) (99,965) Proceeds from financing obligations 14,804  6,008  Other financing activities (4,172) (3,486) Net cash used in financing activities (132,800) (180,569) Net increase (decrease) in cash and cash equivalents 19,001  2,009  Cash and cash equivalents at beginning of period 28,272  36,049  Cash and cash equivalents at end of period $ 47,273  $ 38,058  7 . 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. 8 . 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 2025 to net income per diluted share, which is the most directly comparable GAAP measure, under “Fiscal 2025 Ending January 31, 2026” 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 2025 Ending January 31, 2026” 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. 9 . 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 August 2, 2025 Thirteen Weeks Ended August 3, 2024 Twenty-six Weeks Ended August 2, 2025 Twenty-six Weeks Ended August 3, 2024 Net income as reported $ 150,705  $ 144,988  $ 300,473  $ 256,007  Adjustments: Restructuring  (a) 1,043  1,878  2,580  5,185  Tax impact of adjustments to net income  (b) (292) (534) (722) (1,452) Adjusted net income $ 151,456  $ 146,332  $ 302,331  $ 259,740  Weighted-average diluted shares outstanding 132,517  133,849  132,633  133,980  Adjusted EPS  (c) $ 1.14  $ 1.09  $ 2.28  $ 1.94  (a) Represents charges related to the restructuring of certain corporate 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 August 2, 2025 Thirteen Weeks Ended August 3, 2024 Twenty-six Weeks Ended August 2, 2025 Twenty-six Weeks Ended August 3, 2024 Net income $ 150,705  $ 144,988  $ 300,473  $ 256,007  Interest expense, net 10,393  12,755  21,492  26,706  Provision for income taxes 55,432  45,932  98,210  81,717  Depreciation and amortization 71,933  65,137  141,598  128,559  Stock-based compensation expense 13,945  10,336  24,599  18,926  Restructuring (a) 1,043  1,878  2,580  5,185  Other adjustments (b) 410  323  745  635  Adjusted EBITDA $ 303,861  $ 281,349  $ 589,697  $ 517,735  (a) Represents charges related to the restructuring of certain corporate 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. 10 . BJ'S WHOLESALE CLUB HOLDINGS, INC. Reconciliation to adjusted free cash flow (Amounts in thousands) (Unaudited)     Thirteen Weeks Ended August 2, 2025 Thirteen Weeks Ended August 3, 2024 Twenty-six Weeks Ended August 2, 2025 Twenty-six Weeks Ended August 3, 2024 Net cash provided by operating activities $ 249,864  $ 221,351  $ 457,957  $ 422,198  Less: Additions to property and equipment, net of disposals (165,568) (133,879) (306,065) (239,620) Plus: Proceeds from sale-leaseback transactions 2,995  —  2,995  —  Adjusted free cash flow $ 87,291  $ 87,472  $ 154,887  $ 182,578  BJ'S WHOLESALE CLUB HOLDINGS, INC. Reconciliation of net debt and net debt to LTM adjusted EBITDA (Amounts in thousands) (Unaudited) August 2, 2025 Total debt $ 503,953  Less: Cash and cash equivalents (47,273) Net debt $ 456,680  Net income $ 578,883  Interest expense, net 46,145  Provision for income taxes 202,923  Depreciation and amortization 275,107  Stock-based compensation expense  53,471  Restructuring 5,822  Other adjustments  206  Adjusted EBITDA (a) $ 1,162,557  Net debt to LTM adjusted EBITDA 0.4x (a)    See descriptions of adjustments in the “Reconciliation to Adjusted EBITDA (unaudited)” table above. Investor Contact: investors@bjs.com Media Contact: Kirk Saville Head of Corporate Communications ksaville@bjs.com 774-512-5597 11
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other guidance in this release
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