Equity Profile

BJ

BJ's Wholesale Club Holdings, Inc.

Consumer StaplesConsumer Staples Merchandise Retail$11.4B

Aug20Thu

Pre-Earnings Brief

UpcomingQ2-2026Pre-Market9:00 AM EDT

Company Snapshot

BJ's Wholesale Club Holdings, Inc. operates a membership-based warehouse club offering a wide range of groceries and general merchandise....

Key Metrics to Watch

Membership Growth

Strong membership growth indicates customer loyalty and potential revenue growth.

N/A

Same-Store Sales Growth

This metric reflects the performance of existing stores and is crucial for assessing overall business health.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

BJ Q2-2026 Earnings Preview

Context

Company Snapshot

BJ's Wholesale Club Holdings, Inc. operates a membership-based warehouse club offering a wide range of groceries and general merchandise. As a player in the consumer staples sector, BJ's is positioned to benefit from consistent consumer spending, especially in uncertain economic times.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+10.16%

Avg Stock Reaction

-0.60%

Last Quarter Recap

In Q1-2026, BJ's reported an earnings per share (EPS) of $1.10, exceeding estimates by 5.36%. However, the stock dropped 8.25% the following day, indicating market skepticism despite the earnings beat.

Management Promises & Guidance

Focus on enhancing the shopping experience for members.
Commitment to expanding product offerings and improving supply chain efficiency.
Plans to invest in technology to streamline operations.

Expectations

Wall Street Expectations

Investors are cautiously optimistic ahead of BJ's earnings report, especially given the company's recent ability to beat EPS estimates. However, concerns about inflation and consumer spending could weigh on results.

Bull Case

If BJ's shows strong membership growth and same-store sales, it could indicate robust demand and lead to a positive stock reaction.

Bear Case

A miss on key metrics like gross margin or same-store sales could signal trouble, leading to a negative market reaction.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the growth rate of BJ's membership base this quarter?

Membership growth is critical for revenue and profitability, and any slowdown could be a red flag for investors.

How did same-store sales perform compared to last year?

Same-store sales are a key indicator of customer demand and overall business health, impacting future earnings expectations.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating BJ's ability to drive membership growth despite economic headwinds, which could lead to stronger-than-expected results.

Supporting Evidence

BJ's has consistently beaten EPS estimates, indicating potential for continued strong performance.

The options market pricing suggests a significant move, reflecting heightened investor interest.

Insider selling may indicate confidence in the company's long-term strategy despite short-term volatility.

Key Risk

If membership growth exceeds 5%, it could challenge the current cautious outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is debating BJ's ability to maintain growth in a challenging economic environment, making these metrics crucial.

Bull Confirmed If

Membership growth of over 5% year-over-year would confirm the bull case.

Bear Confirmed If

Same-store sales growth below 2% would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±12.08%

Historical Avg

±6.0%

Pricing rich

The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings announcement.

Options are pricing ±12.1% while BJ has averaged ±6.0% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.3%

30d HV

35.9%

Calls (72K)P/C Ratio: 0.52Puts (22K)

Edge

Insider Activity

Open-market trades by officers, directors, and 10%+ holders over the trailing 90 days.

Bought

$0.00

0 sh

0 insiders

Sold

$2.3M

24,922 sh

3 insiders

Net

$2.3M

Net selling

Most Active Insiders· 5 open-market trades

EVP, Chief Growth OfficerMorningstar Timothy Pierce
$1.4M

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If BJ's beats expectations, history suggests a potential stock increase of around 0.54%, confirming strong demand.

In-Line / Cautious

A cautious in-line report may lead to muted reactions, as investors await clearer signals on future growth.

Miss

If the company misses expectations, history suggests a decline of about 8.52%, reflecting investor disappointment.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

0 buys·8 sells

Members

House only

Est. Notional

$8,008.00–$120,000.00

disclosed dollar ranges

Most Active Members

D-MDApril McClain DelaneyRep.
8

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on membership growth rates and strategies to attract new members.
2Details on same-store sales performance and any regional variations.
3Management's commentary on cost pressures and gross margin outlook.
4Insights into supply chain improvements and inventory management.
5Any new initiatives or product offerings that could drive future sales.

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Company Snapshot

BJ's Wholesale Club Holdings, Inc. operates a membership-based warehouse club offering a wide range of groceries and general merchandise....

Key Metrics to Watch

Membership Growth

Strong membership growth indicates customer loyalty and potential revenue growth.

N/A

Same-Store Sales Growth

This metric reflects the performance of existing stores and is crucial for assessing overall business health.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

BJ Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+10.16%

Avg Stock Reaction

-0.60%

Last Quarter Recap

Management Promises & Guidance

Focus on enhancing the shopping experience for members.
Commitment to expanding product offerings and improving supply chain efficiency.
Plans to invest in technology to streamline operations.

Expectations

Wall Street Expectations

Bull Case

If BJ's shows strong membership growth and same-store sales, it could indicate robust demand and lead to a positive stock reaction.

Bear Case

A miss on key metrics like gross margin or same-store sales could signal trouble, leading to a negative market reaction.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the growth rate of BJ's membership base this quarter?

Membership growth is critical for revenue and profitability, and any slowdown could be a red flag for investors.

How did same-store sales perform compared to last year?

Same-store sales are a key indicator of customer demand and overall business health, impacting future earnings expectations.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating BJ's ability to drive membership growth despite economic headwinds, which could lead to stronger-than-expected results.

Supporting Evidence

BJ's has consistently beaten EPS estimates, indicating potential for continued strong performance.

The options market pricing suggests a significant move, reflecting heightened investor interest.

Insider selling may indicate confidence in the company's long-term strategy despite short-term volatility.

Key Risk

If membership growth exceeds 5%, it could challenge the current cautious outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is debating BJ's ability to maintain growth in a challenging economic environment, making these metrics crucial.

Bull Confirmed If

Membership growth of over 5% year-over-year would confirm the bull case.

Bear Confirmed If

Same-store sales growth below 2% would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±12.08%

Historical Avg

±6.0%

Pricing rich

The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings announcement.

Options are pricing ±12.1% while BJ has averaged ±6.0% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.3%

30d HV

35.9%

Calls (72K)P/C Ratio: 0.52Puts (22K)

Edge

Insider Activity

Open-market trades by officers, directors, and 10%+ holders over the trailing 90 days.

Bought

$0.00

0 sh

0 insiders

Sold

$2.3M

24,922 sh

3 insiders

Net

$2.3M

Net selling

Most Active Insiders· 5 open-market trades

EVP, Chief Growth OfficerMorningstar Timothy Pierce
$1.4M

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If BJ's beats expectations, history suggests a potential stock increase of around 0.54%, confirming strong demand.

In-Line / Cautious

A cautious in-line report may lead to muted reactions, as investors await clearer signals on future growth.

Miss

If the company misses expectations, history suggests a decline of about 8.52%, reflecting investor disappointment.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

0 buys·8 sells

Members

House only

Est. Notional

$8,008.00–$120,000.00

disclosed dollar ranges

Most Active Members

D-MDApril McClain DelaneyRep.
8

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on membership growth rates and strategies to attract new members.
2Details on same-store sales performance and any regional variations.
3Management's commentary on cost pressures and gross margin outlook.
4Insights into supply chain improvements and inventory management.
5Any new initiatives or product offerings that could drive future sales.