BJ's Wholesale Club Holdings First Take 1Q26 Earnings

BJ's Wholesale Club reported 1Q26 earnings that beat consensus expectations on the bottom line (EPS $1.10) despite a slight miss in same-store sales (+1.5%). The company reiterated its FY26 guidance, and the stock traded up in the pre-market.

Key Takeaways

• 1.BJ reported a 1Q26 same-store sales (SSS) miss of +1.5% versus the consensus of +1.8%, though earnings per share and EBIT exceeded expectations.
• 2.Membership Fee Income (MFI) saw strong year-over-year growth of 9.9%, indicating a healthy membership base.
• 3.Management reiterated its full-year 2026 guidance for both same-store sales and adjusted earnings per share.

Table of Contents

• Analysis
• Implications
• Valuation & Risks
• Disclosure Appendix
• GS Factor Profile
• M&A Rank
• Quantum
• Disclosures
• Price target and rating history chart(s)
• Target price history table(s)
• Regulatory disclosures
• Ratings, coverage universe and related definitions
• Global product; distributing entities
• General disclosures

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