Analyst Consensus ?
ConsensusHold27 ratings
Bullish1348.2%
Neutral1348.1%
Bearish13.7%
BJ's Wholesale Club Holdings, Inc. · BJ · FY2024 Q2 · Calendar Q3 2024
BJ’s Wholesale Club: Membership Growth Meets Expansion Costs
The quarter supports a constructive operating thesis built on membership growth, digital adoption, fresh-food initiatives, and club expansion, but the evidence also points to a near-term earnings trade-off from investment and margin pressure.
Reported Before market openNYSEConsumer Defensive
$13.37B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.09
Consensus $1.00
EPS surprise
+9.0%
Reported versus consensus
Reported revenue
$5.21B
Consensus $5.15B
Revenue surprise
+1.1%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-6.8%
Event window
SPY move
-0.8%
Same window
Abnormal move
-6.0%
Stock minus SPY
Volume
4.2×
Versus trailing sessions
Subsequent drift
-0.8%
Up to 20 sessions
BJSPY benchmark
Ask FN2 about BJ FY2024 Q2
Transcript, numbers and history already loaded
Why did BJ fall 6.8% after beating EPS estimates in FY2024 Q2?What changed in BJ's guidance and outlook in FY2024 Q2?Give me the bull and bear case for BJ after FY2024 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior-quarter analysis, membership fee growth remained strong and digital and Fresh 2.0 initiatives continued to advance. Management’s emphasis shifted toward executing an accelerated club-opening plan and managing associated pre-opening and perishable-investment costs, while maintaining full-year EPS guidance.
Guidance delta
Management maintained FY2024 adjusted EPS guidance of $3.75-$4.00 and expected merchandise gross margin to be flat year over year.
Key takeaways
- Membership fee income and digitally enabled sales continued to grow, supported by member acquisition and premium-tier adoption.
- Fresh 2.0, own-brand expansion, digital tools, and new clubs remain the main investment-led growth initiatives.
- The trade-off is near-term margin pressure from perishables, investment spending, and planned pre-opening costs.
Management priorities
- Complete the Fresh 2.0 rollout and broaden the perishable assortment.
- Expand digital convenience, autonomous inventory tools, own-brand penetration, and the club network while emphasizing value and membership quality.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$105.84Current
$35Low
$83.24Average
$121High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 26, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Evercore ISI Group | In Line | In Line | Maintain | Oct 20, 2026 |
| UBS | Buy | Buy | Maintain | Aug 24, 2026 |
| Roth Capital | Neutral | Neutral | Maintain | Aug 24, 2026 |
| DA Davidson | Buy | Buy | Maintain | Aug 24, 2026 |
| Citigroup | Buy | Buy | Maintain | Aug 24, 2026 |
| Gordon Haskett | Buy | Hold | Upgrade | Jul 29, 2026 |
| JP Morgan | Neutral | Neutral | Maintain | May 26, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Feb 27, 2026 |
| Goldman Sachs | Buy | Buy | Maintain | Feb 2, 2026 |
| Jefferies | Hold | Buy | Downgrade | Jan 28, 2026 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Jan 15, 2026 |
| Barclays | Underweight | Equal Weight | Downgrade | Jan 7, 2026 |
| Baird | Outperform | Outperform | Maintain | Nov 24, 2025 |
| BTIG | Buy | Buy | Maintain | Nov 21, 2025 |
| Loop Capital | Hold | Hold | Maintain | May 23, 2025 |
| TD Cowen | Buy | Buy | Maintain | Dec 12, 2024 |
| Roth MKM | Neutral | Neutral | Maintain | Nov 25, 2024 |
| B of A Securities | Buy | Buy | Maintain | Aug 23, 2024 |
| Deutsche Bank | Hold | Buy | Downgrade | Nov 6, 2023 |
| Credit Suisse | Neutral | Neutral | Maintain | Aug 17, 2023 |
| MKM Partners | Neutral | Neutral | Maintain | Aug 19, 2022 |
| Argus Research | Hold | Hold | Maintain | Jul 19, 2021 |
| Nomura Instinet | Buy | Buy | Maintain | May 22, 2020 |
| Nomura | Buy | Buy | Maintain | May 22, 2020 |
| Bank of America | Buy | Buy | Maintain | May 22, 2020 |
| Stephens & Co. | Equal Weight | Equal Weight | Maintain | May 19, 2020 |
| Oppenheimer | Perform | Perform | Maintain | Oct 18, 2018 |
Named analyst price targets
Upside is calculated against the persisted current price $105.84. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| D.A. Davidson | Michael Baker | $108 | $98.57 | +2.0% | Oct 8, 2026 |
| UBS | Mark Carden | $115 | $99.76 | +8.7% | Aug 24, 2026 |
| D.A. Davidson | Michael Baker | $105 | $95.01 | -0.8% | Aug 18, 2026 |
| UBS | Mark Carden | $109 | $84.12 | +3.0% | May 26, 2026 |
| D.A. Davidson | Michael Baker | $114 | $98.47 | +7.7% | Mar 5, 2026 |
| Morgan Stanley | Simeon Gutman | $105 | $91.61 | -0.8% | Nov 24, 2025 |
| Evercore ISI | Greg Melich | $95 | $91.61 | -10.2% | Nov 24, 2025 |
| UBS | Mark Carden | $135 | $104.6 | +27.6% | Aug 13, 2025 |
| Goldman Sachs | Kate McShane | $102 | $92.79 | -3.6% | Nov 21, 2024 |
| Loop Capital Markets | Laura Champine | $85 | $86.77 | -19.7% | Oct 14, 2024 |
| Argus Research | Gary Hovis | $68 | $83.36 | -35.8% | Aug 26, 2024 |
| HSBC | Stephen Bersey | $121 | $82.24 | +14.3% | Aug 23, 2024 |
| D.A. Davidson | Katy Hallberg | $95 | $83.2 | -10.2% | May 23, 2024 |
| D.A. Davidson | Katy Hallberg | $92 | $84.56 | -13.1% | May 23, 2024 |
| J.P. Morgan | Christopher Horvers | $62 | $80.49 | -41.4% | May 23, 2024 |
| Goldman Sachs | Kate McShane | $87 | $75.91 | -17.8% | Apr 8, 2024 |
| Citigroup | Analyst unavailable | $35 | $72.42 | -66.9% | Feb 7, 2023 |
| Piper Sandler | Nicole Miller | $45 | $65.84 | -57.5% | Feb 18, 2022 |
| Gordon Haskett Capital Corporation | Charles Grom | $72 | $62.16 | -32.0% | Feb 10, 2022 |
| Wells Fargo | Edward Kelly | $80 | $59.98 | -24.4% | Feb 7, 2022 |
| Citigroup | Paul Lejuez | $65 | $57.93 | -38.6% | Jan 28, 2022 |
| Morgan Stanley | Simeon Gutman | $65 | $59.99 | -38.6% | Jan 18, 2022 |
| J.P. Morgan | Christopher Horvers | $60 | $60.83 | -43.3% | Jan 14, 2022 |
| Goldman Sachs | Kate McShane | $78 | $65.82 | -26.3% | Dec 14, 2021 |
| Jefferies | Stephanie Wissink | $84 | $69.61 | -20.6% | Nov 19, 2021 |
| Bank of America Securities | Robert Ohmes | $78 | $69.61 | -26.3% | Nov 19, 2021 |
Track every rating change on BJ the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationBJ's Wholesale Club Holdings, Inc., alongside its subsidiaries, manages a network of membership-based retail warehouses primarily located across the eastern United States. This enterprise provides a range of products including perishable goods, general merchandise, and gasoline, in addition to various supplementary services. Customers can acquire items through its dedicated websites—BJs.com, BerkleyJensen.com, Wellsleyfarms.com, and Delivery.bjs.com—as well as via its mobile application. By June 10, 2022, the company's operational footprint extended to 229 warehouse clubs and 160 gas stations across 17 states. Originally incorporated as Beacon Holding Inc., the company rebranded to BJ's Wholesale Club Holdings, Inc. in February 2018. Established in 1984, its corporate headquarters are situated in Westborough, Massachusetts.
Historical context
All BJ earningsConsumer Defensive peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| PG The Procter & Gamble Company | FY2027 Q1 · Calendar Q4 2026 | +6.4% | +5.6% | P&G: Volume Growth Supports FY2027 Guidance Despite Cost Headwinds |
Latest beats and misses
Who reports nextBeat on EPS
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- RDYFY2027 Q2 · October 23, 2026+24.0% EPS-0.2% move
- SLBFY2026 Q3 · October 23, 2026+3.7% EPS+7.1% move
Missed on EPS
- INFYFY2027 Q2 · October 23, 2026-4.8% EPS-6.6% move
- BBDFY2026 Q3 · October 22, 2026-7.7% EPS+3.0% move
- SNAFY2026 Q3 · October 22, 2026-5.9% EPS-3.4% move
- SPOTFY2026 Q3 · October 22, 2026-11.6% EPS+11.1% move
- VRSNFY2026 Q3 · October 22, 2026-2.0% EPS-0.9% move
- HBANMFY2026 Q3 · October 22, 2026-5.3% EPS+0.5% move
Get the BJ recap when the next report posts
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2024-10-17T05:10:49.140638+00:00
- Polygon adjusted daily market bars · 2026-10-25T23:20:42.094697+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-25T23:20:42.091910+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-25. For educational purposes only; not investment advice.