BJ’s On the Move as It Prepares to Enter 21st State
On the heels of a strong Q4 and fiscal year 2023, BJ’s Wholesale Club is hitting the ground running in FY24 with expansion into its 21st state. The retailer plans to open a location near the Jefferson Mall in Louisville, Ky., early next year.
The new Louisville club will include a BJ’s gas station, and is expected to create approximately 150 jobs.
“We are excited to offer our winning combination of value, convenience and assortment to families in Louisville,” said Bill Werner, EVP, strategy and development. “Our expansion into Kentucky allows us to deliver unbeatable value and savings of up to 25% off grocery store prices every day.”
During the company’s Q4 and FY23 earnings call, BJ’s Chairman and CEO Bob Eddy shared that BJ’s plans to open 12 new locations in fiscal year 2024, as well as 15 new gas stations. Some of those locations will be at clubs that don’t currently have gas stations, while others will be brand new.
Additionally, Eddy said BJ’s currently has more new units in the pipeline than at any time over the past 20 years.
BJ’s has steadily and consistently expanded its physical footprint over the past several years, with its latest location opening at 800 Rivergate Parkway in Goodlettsville, Tenn., on Feb. 17. The location will feature a BJ's Gas on-site, opening this spring.
Other recent openings include a club in Johnson City, N.Y., on Jan. 26, marking BJ’s 48th location in the Empire State. The company also unveiled a new location in North Jacksonville, Fla., on Jan. 12.
BJ’s not only made its debut in the Tennessee market last year, it also further expanded its footprint by opening its first club in Alabama, its 20th state of operation. The Madison, Ala., location, part of the mixed-use development called Town Madison, opened its doors on Nov. 10.
BJ’s strong Q4 and fiscal year 2023 results were mostly driven by increases in comps, membership fee income and digitally enabled comparable sales growth. For Q4, the company saw year-over-year comparable club sales, excluding gasoline sales, increase by 0.5%, led by accelerating traffic, while digitally enabled comparable sales growth was 28%. Membership fee income increased by 6.5% to $108.4 million, and the company achieved a 90% tenured member renewal rate during FY23.
Marlborough, Mass.-based BJ’s currently operates more than 240 clubs and 170-plus BJ’s Gas locations in 20 states. The company is No. 27 on The PG 100, Progressive Grocer’s 2023 list of the top food and consumables retailers in North America.
