BJ’s Invests $8M in Employee Bonuses
On the same day that it released its second-quarter fiscal 2021 results, BJ’s Wholesale Club revealed that it's awarding full-time and part-time club and distribution center team members recognition bonuses totaling $8 million. According to the company, the bonuses are in appreciation of associates’ continued hard work and commitment to serving BJ’s members.
The bonuses are being paid out to eligible team members at BJ’s clubs and distribution centers during the month of August. Full-time hourly team members will receive $300, and part-time hourly team members will receive $150. Managers also received a special recognition bonus.
Totaling $8 million, the latest bonuses demonstrate how BJ’s is making a significant investment in its employees.
“Our team members are the key to our success, and I am incredibly proud of their continued dedication to serving our members during these challenging times,” said Jeff Desroches, EVP and COO at BJ’s. “We’re thrilled to recognize and reward our club and distribution center team members with this bonus. By continuing to invest in our team members, we are powering our own growth and acknowledging those that have worked hard to help us accelerate our transformation.”
The bonuses come at a time when the company's footprint is expanding. Earlier in the year, BJ’s revealed its plan to open six new clubs this fiscal year, debuting its latest location on July 2 in Seabrook, N.H. As its footprint expands, the wholesaler is looking to hire more team members. Information on career opportunities at all BJ’s locations can be found at BJs.com/careers/.
Other retailers, including Dollar Tree, Cardenas Markets and Oliver’s Market, are enticing new hires amid a national labor shortage with sign-on bonuses.
Meanwhile, after releasing its second-quarter fiscal 2021 results ending July 31, BJ's said that it's well positioned for long-term success. The company continued to report improved membership size and quality, with first-year renewal rates remaining at historic levels, but comparable-club sales, excluding sales of gasoline, were down 3.4%, reflecting two-year stacked comps of 20.8%. Total comps, however, were up 4.0%, reflecting two-year stacked comps of 21.2%.
Additionally, digitally enabled sales growth was 4%, reflecting two-year stacked comp growth of 304%. BJ’s noted that members continue to aggressively adopt such new services as curbside pickup.
Based in Westborough, Mass., BJ’s Wholesale Club operates 222 clubs and 151 BJ’s Gas locations in 17 states. The company is No. 27 on The PG 100, Progressive Grocer’s 2021 list of the top food and consumables retailers in North America. Chesapeake, Va.-based Dollar Tree is No. 30 on The PG 100.
