Every material Form 8-K BJ's Wholesale Club filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
BJ's Wholesale Club reported third-quarter fiscal 2024 results, with total revenues up 3.5% to $5.10 billion and diluted EPS of $1.17 versus $0.97 a year earlier. The company raised its full-year adjusted EPS range to $3.90 to $4.00 from a previously stated $3.75 to $4.00 range, and approved a new $1.0 billion share repurchase program.
Q3 fiscal 2024 total revenues were $5.10 billion, up 3.5%; diluted EPS was $1.17 versus $0.97, and adjusted EPS was $1.18 versus $1.00
Full-year fiscal 2024 adjusted EPS range raised to $3.90 to $4.00; comparable club sales growth now expected at 2.3% to 2.4%
Board approved a $1.0 billion share repurchase program on November 18, 2024, expiring January 2029
Club membership fee rises $5 to $60 a year and Club+ rises $10 to $120 a year, effective January 1, 2025
BJ's Wholesale Club Holdings said Jeff Desroches resigned as Executive Vice President, Chief Operations Officer on November 5, 2024. The company named Scott Schmadeke to succeed him as Executive Vice President, Chief Operations Officer, and Krystyna Kostka as Chief Supply Chain Officer. The change puts operations leadership under a long-serving internal executive, but the filing gives no financial figures or reasons for the departure.
Jeff Desroches resigned as Executive VP and Chief Operations Officer effective November 5, 2024
Scott Schmadeke, formerly SVP Field and Fresh Operations and a BJ's employee since 2018, named Executive VP and Chief Operations Officer, effective immediately
Krystyna Kostka, previously SVP Operations and with BJ's since 2014, named Chief Supply Chain Officer and will report to Schmadeke
BJ's Wholesale Club and subsidiaries signed a Fifth Amendment to their First Lien Term Loan Credit Agreement on November 4, 2024. The amendment provides a new $400 million tranche of term loans that refinances the existing Tranche B Term Loans, and lowers the applicable interest margin from SOFR plus 2.00% to SOFR plus 1.75%. The change alters the company's borrowing terms and interest cost, but the filing does not state a figure for expected savings.
Fifth Amendment dated November 4, 2024, with Nomura Corporate Funding Americas, LLC as administrative and collateral agent
New $400 million 2024 Term Loans refinance and replace the existing Tranche B Term Loans in full
Applicable margin reduced from SOFR plus 2.00% to SOFR plus 1.75% per annum upon effectiveness
BJ's Wholesale Club reported second-quarter fiscal 2024 results for the 13 weeks ended August 3, 2024, with total revenues of $5.21 billion, up 4.9%, and net income of $145.0 million, up 10.4%. The company kept its fiscal 2024 adjusted EPS outlook of $3.75 to $4.00, and operating income rose only 1.7%, so shareholders see higher profit alongside slower gains at the operating line.
Total revenues were $5,205.4 million, up 4.9%, and comparable club sales rose 3.1%.
Diluted EPS was $1.08 versus $0.97 a year earlier, up 11.3%; adjusted EPS was $1.09, up 10.1%.
Operating income was $203.7 million, up 1.7%; SG&A rose to $750.3 million from $695.0 million.
Fiscal 2024 adjusted EPS outlook was reiterated at $3.75 to $4.00; the company repurchased $40.4 million of stock in the quarter.
BJ's Wholesale Club Holdings appointed Dave Burwick, former CEO of Boston Beer Company, as a director effective June 20, 2024, and to its Nominating and Corporate Governance Committee. At its June 20, 2024 annual meeting, shareholders elected all nine director nominees, approved executive pay on an advisory basis, and ratified PricewaterhouseCoopers LLP as auditor. The filing reports no financial results or guidance changes.
Dave Burwick appointed to the board effective immediately, serving until the 2025 annual meeting; annual director cash fee of $100,000 plus $10,000 for NCG Committee service
Shareholders elected all nine directors, with Darryl Brown receiving 119,349,790 votes for and Steve Ortega 122,206,518 votes for
Say-on-pay advisory proposal received 115,903,906 votes for and 6,455,926 against
Shareholders ratified PricewaterhouseCoopers LLP as independent registered public accounting firm with 120,759,141 votes for
BJ's Wholesale reported first quarter fiscal 2024 total revenues of $4.92 billion, up 4.1%, but net income fell 4.4% to $111.0 million and diluted EPS declined to $0.83 from $0.85. Operating income dropped 13.9%, and the company said its fiscal 2024 outlook is unchanged.
Total revenues rose 4.1% to $4.92 billion; net sales rose 4.0% to $4.81 billion
Operating income fell 13.9% to $160.8 million; net income fell 4.4% to $111.0 million
Diluted EPS was $0.83 versus $0.85; adjusted EPS was flat at $0.85, excluding a $3.3 million restructuring charge
Company repurchased 405,110 shares for $30.2 million; fiscal 2024 outlook is unchanged
BJ's Wholesale Club Holdings reported fourth-quarter fiscal 2023 results, with total revenues up 8.7% to $5.36 billion and diluted EPS up 13.7% to $1.08 from the prior-year quarter. For fiscal 2024, the company guided to adjusted EPS of $3.75 to $4.00, compared with fiscal 2023 adjusted EPS of $3.96, and projected capital expenditures of approximately $500 million.
Q4 fiscal 2023 total revenues were $5.36 billion, up 8.7%, and net income was $145.9 million, up 12.7% from continuing operations.
Q4 comparable club sales excluding gasoline rose 0.5%; fiscal 2023 full-year adjusted EPS was $3.96, up 1.0%.
Fiscal 2024 guidance: comparable club sales excluding gasoline up 1% to 2%, adjusted EPS of $3.75 to $4.00, and capital expenditures of approximately $500 million.
Fiscal 2023 included a 53rd week, which added approximately $353.4 million in net sales and $13.4 million in net income.
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