BJ's Wholesale Club (BJ) 10-Q 29 Aug 24 2024 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Aug. 03, 2024	Aug. 21, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Aug. 03, 2024
Document Transition Report	false
Entity File Number	001-38559
Entity Registrant Name	BJ’S WHOLESALE CLUB HOLDINGS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	45-2936287
Entity Address, Address Line One	350 Campus Drive
Entity Address, City or Town	Marlborough
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01752
City Area Code	774
Local Phone Number	512-7400
Title of 12(b) Security	Common Stock, par value $0.01
Trading Symbol	BJ
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		132,585,558
Entity Central Index Key	0001531152
Amendment Flag	false
Current Fiscal Year End Date	--02-01
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Aug. 03, 2024	Feb. 03, 2024	Jul. 29, 2023
Current assets:
Cash and cash equivalents	$ 38,058	$ 36,049	$ 26,210
Accounts receivable, net	248,491	234,769	200,279
Merchandise inventories	1,546,211	1,454,822	1,540,508
Prepaid expenses and other current assets	82,333	68,366	76,309
Total current assets	1,915,093	1,794,006	1,843,306
Operating lease right-of-use assets, net	2,150,965	2,140,482	2,165,125
Property and equipment, net	1,697,139	1,578,792	1,428,576
Goodwill	1,008,816	1,008,816	1,008,816
Intangibles, net	104,370	107,632	111,568
Deferred income taxes	3,548	4,071	7,928
Other assets	49,971	43,823	38,577
Total assets	6,929,902	6,677,622	6,603,896
Current liabilities:
Short-term debt	217,000	319,000	411,000
Current portion of operating lease liabilities	162,777	153,631	179,423
Accounts payable	1,285,733	1,183,281	1,226,490
Accrued expenses and other current liabilities	858,240	812,136	774,235
Total current liabilities	2,523,750	2,468,048	2,591,148
Long-term operating lease liabilities	2,058,071	2,050,883	2,075,058
Long-term debt	398,586	398,432	448,135
Deferred income taxes	70,976	74,773	64,095
Other non-current liabilities	223,612	226,635	194,171
Commitments and contingencies (see Note 5)
STOCKHOLDERS’ EQUITY
Preferred stock; par value $0.01; 5,000 shares authorized, and no shares issued	0	0	0
Common stock, par value $0.01; 300,000 shares authorized, 148,757 shares issued and 132,766 outstanding at August 3, 2024; 147,544 shares issued and 132,768 outstanding at February 3, 2024; and 147,443 shares issued and 133,720 outstanding at July 29, 2023	1,488	1,475	1,474
Additional paid-in capital	1,044,196	1,006,409	983,366
Retained earnings	1,424,238	1,168,231	891,892
Accumulated other comprehensive income	501	501	1,049
Treasury stock, at cost, 15,991 shares at August 3, 2024; 14,776 shares at February 3, 2024; and 13,723 shares at July 29, 2023	(815,516)	(717,765)	(646,492)
Total stockholders’ equity	1,654,907	1,458,851	1,231,289
Total liabilities and stockholders’ equity	$ 6,929,902	$ 6,677,622	$ 6,603,896

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares shares in Thousands	Aug. 03, 2024	Feb. 03, 2024	Jul. 29, 2023
Statement of Financial Position [Abstract]
Preferred stock, par value (in USD per share)	$ 0.01	$ 0.01	$ 0.01
Preferred stock, authorized (in shares)	5,000	5,000	5,000
Preferred stock, issued (in shares)	0	0	0
Common stock, par value (in USD per share)	$ 0.01	$ 0.01	$ 0.01
Common stock, authorized (in shares)	300,000	300,000	300,000
Common stock, issued (in shares)	148,757	147,544	147,443
Common stock, outstanding (in shares)	132,766	132,768	133,720
Treasury stock (in shares)	15,991	14,776	13,723

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 03, 2024	Jul. 29, 2023	Aug. 03, 2024	Jul. 29, 2023
Total revenues	$ 5,205,395	$ 4,963,540	$ 10,123,914	$ 9,686,682
Cost of sales	4,248,819	4,066,727	8,283,948	7,909,877
Selling, general and administrative expenses	750,323	694,960	1,472,094	1,384,288
Pre-opening expenses	2,578	1,584	3,442	5,478
Operating income	203,675	200,269	364,430	387,039
Interest expense, net	12,755	16,274	26,706	30,964
Income from operations before income taxes	190,920	183,995	337,724	356,075
Provision for income taxes	45,932	52,670	81,717	108,762
Income from continuing operations			256,007	247,313
Income from discontinued operations, net of income taxes			0	89
Net income	$ 144,988	$ 131,325	$ 256,007	$ 247,402
Earnings Per Share, Basic [Abstract]
Income from continuing operations (in USD per share)			$ 1.93	$ 1.86
Income from discontinued operations (in USD per share)			0	0
Net income (in USD per share)	$ 1.09	$ 0.99	1.93	1.86
Earnings Per Share, Diluted [Abstract]
Income from continuing operations (in USD per share)			1.91	1.82
Income from discontinued operations (in USD per share)			0	0.01
Net income (in USD per share)	$ 1.08	$ 0.97	$ 1.91	$ 1.83
Weighted-average shares of common stock outstanding:
Basic (in shares)	132,431	133,317	132,414	133,314
Diluted (in shares)	133,849	135,129	133,980	135,515
Other comprehensive income:
Amounts released from other comprehensive income, net of tax			$ 0	$ (501)
Total other comprehensive income	$ 0	$ 0	0	(501)
Total comprehensive income	144,988	131,325	256,007	246,901
Net sales
Total revenues	5,092,279	4,859,842	9,899,408	9,480,462
Membership fee income
Total revenues	$ 113,116	$ 103,698	$ 224,506	$ 206,220

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income	Treasury Stock
Balance at beginning of period (in shares) at Jan. 28, 2023		146,347
Balance at beginning of period at Jan. 28, 2023	$ 1,046,837	$ 1,463	$ 958,555	$ 644,490	$ 1,550	$ (559,221)
Treasury stock at beginning of period (in shares) at Jan. 28, 2023						(12,444)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	116,077			116,077
Other comprehensive loss, net of tax	(501)				(501)
Common stock issued under stock incentive plans (in shares)		1,033
Common stock issued under stock incentive plans		$ 10	(10)
Stock-based compensation expense	10,007		10,007
Exercise of stock options	1,675		1,675
Acquisition of treasury stock (in shares)						(560)
Acquisition of treasury stock	(42,369)					$ (42,369)
Balance at end of period (in shares) at Apr. 29, 2023		147,380
Balance at end of period at Apr. 29, 2023	1,131,726	$ 1,473	970,227	760,567	1,049	$ (601,590)
Treasury stock at end of period (in shares) at Apr. 29, 2023						(13,004)
Balance at beginning of period (in shares) at Jan. 28, 2023		146,347
Balance at beginning of period at Jan. 28, 2023	1,046,837	$ 1,463	958,555	644,490	1,550	$ (559,221)
Treasury stock at beginning of period (in shares) at Jan. 28, 2023						(12,444)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	247,402
Other comprehensive loss, net of tax	$ (501)
Balance at end of period (in shares) at Jul. 29, 2023	133,720	147,443
Balance at end of period at Jul. 29, 2023	$ 1,231,289	$ 1,474	983,366	891,892	1,049	$ (646,492)
Treasury stock at end of period (in shares) at Jul. 29, 2023	(13,723)					(13,723)
Balance at beginning of period (in shares) at Apr. 29, 2023		147,380
Balance at beginning of period at Apr. 29, 2023	$ 1,131,726	$ 1,473	970,227	760,567	1,049	$ (601,590)
Treasury stock at beginning of period (in shares) at Apr. 29, 2023						(13,004)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	131,325			131,325
Other comprehensive loss, net of tax	0
Common stock issued under stock incentive plans (in shares)		2
Stock-based compensation expense	9,624		9,624
Common stock issued under ESPP (in shares)		61
Common stock issued under ESPP	3,255	$ 1	3,254
Exercise of stock options	261		261
Acquisition of treasury stock (in shares)						(719)
Acquisition of treasury stock	$ (44,902)					$ (44,902)
Balance at end of period (in shares) at Jul. 29, 2023	133,720	147,443
Balance at end of period at Jul. 29, 2023	$ 1,231,289	$ 1,474	983,366	891,892	1,049	$ (646,492)
Treasury stock at end of period (in shares) at Jul. 29, 2023	(13,723)					(13,723)
Balance at beginning of period (in shares) at Feb. 03, 2024	132,768	147,544
Balance at beginning of period at Feb. 03, 2024	$ 1,458,851	$ 1,475	1,006,409	1,168,231	501	$ (717,765)
Treasury stock at beginning of period (in shares) at Feb. 03, 2024	(14,776)					(14,776)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 111,019			111,019
Common stock issued under stock incentive plans (in shares)		703
Common stock issued under stock incentive plans	0	$ 7	(7)
Stock-based compensation expense	8,590		8,590
Exercise of stock options	5,865		5,865
Acquisition of treasury stock (in shares)						(763)
Acquisition of treasury stock	(56,905)					$ (56,905)
Balance at end of period (in shares) at May. 04, 2024		148,247
Balance at end of period at May. 04, 2024	$ 1,527,420	$ 1,482	1,020,857	1,279,250	501	$ (774,670)
Treasury stock at end of period (in shares) at May. 04, 2024						(15,539)
Balance at beginning of period (in shares) at Feb. 03, 2024	132,768	147,544
Balance at beginning of period at Feb. 03, 2024	$ 1,458,851	$ 1,475	1,006,409	1,168,231	501	$ (717,765)
Treasury stock at beginning of period (in shares) at Feb. 03, 2024	(14,776)					(14,776)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 256,007
Other comprehensive loss, net of tax	$ 0
Balance at end of period (in shares) at Aug. 03, 2024	132,766	148,757
Balance at end of period at Aug. 03, 2024	$ 1,654,907	$ 1,488	1,044,196	1,424,238	501	$ (815,516)
Treasury stock at end of period (in shares) at Aug. 03, 2024	(15,991)					(15,991)
Balance at beginning of period (in shares) at May. 04, 2024		148,247
Balance at beginning of period at May. 04, 2024	$ 1,527,420	$ 1,482	1,020,857	1,279,250	501	$ (774,670)
Treasury stock at beginning of period (in shares) at May. 04, 2024						(15,539)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	144,988			144,988
Other comprehensive loss, net of tax	0
Common stock issued under stock incentive plans (in shares)		450
Common stock issued under stock incentive plans	0	$ 5	(5)
Stock-based compensation expense	10,336		10,336
Common stock issued under ESPP (in shares)		60
Common stock issued under ESPP	3,411	$ 1	3,410
Exercise of stock options	9,598		9,598
Acquisition of treasury stock (in shares)						(452)
Acquisition of treasury stock	$ (40,846)					$ (40,846)
Balance at end of period (in shares) at Aug. 03, 2024	132,766	148,757
Balance at end of period at Aug. 03, 2024	$ 1,654,907	$ 1,488	$ 1,044,196	$ 1,424,238	$ 501	$ (815,516)
Treasury stock at end of period (in shares) at Aug. 03, 2024	(15,991)					(15,991)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Aug. 03, 2024	Jul. 29, 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 256,007	$ 247,402
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	128,559	109,015
Amortization of debt issuance costs and accretion of original issue discount	554	655
Stock-based compensation expense	18,926	19,631
Deferred income tax (benefit) provision	(3,274)	10,641
Changes in operating leases and other non-cash items	6,479	762
Increase (decrease) in cash due to changes in:
Accounts receivable, net	(20,006)	39,797
Merchandise inventories	(91,389)	(161,957)
Prepaid expenses and other current assets	(3,002)	(14,083)
Other assets	(6,548)	(8,038)
Accounts payable	102,452	30,793
Accrued expenses and other current liabilities	34,312	(3,606)
Other non-current liabilities	(872)	(1,512)
Net cash provided by operating activities	422,198	269,500
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to property and equipment, net of disposals	(239,620)	(214,240)
Proceeds from sale-leaseback transactions	0	5,988
Net cash used in investing activities	(239,620)	(208,252)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from revolving lines of credit	366,000	312,000
Payments on revolving lines of credit	(468,000)	(306,000)
Net cash received from stock option exercises	15,463	1,571
Net cash received from ESPP	3,411	3,255
Acquisition of treasury stock	(99,965)	(87,271)
Proceeds from financing obligations	6,008	9,058
Other financing activities	(3,486)	(1,566)
Net cash used in financing activities	(180,569)	(68,953)
Net increase (decrease) in cash and cash equivalents	2,009	(7,705)
Cash and cash equivalents at beginning of period	36,049	33,915
Cash and cash equivalents at end of period	38,058	26,210
Supplemental cash flow information:
Interest paid	22,961	28,509
Income taxes paid	96,412	113,016
Operating lease liabilities arising from obtaining right-of-use assets and other non-cash lease-related operating items	104,306	111,465
Non-cash financing and investing activities:
Finance lease liabilities arising from obtaining right-of-use assets	758	1,449
Property additions included in accrued expenses	40,739	30,535
Treasury stock repurchases included in accrued expenses	$ 1,150	$ 0

Description of Business

Description of Business	6 Months Ended
	Aug. 03, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Description of Business BJ’s Wholesale Club Holdings, Inc. and its wholly-owned subsidiaries is a leading operator of membership warehouse clubs concentrated primarily in the eastern half of the United States. The Company provides a curated assortment focused on groceries, fresh foods, general merchandise, gasoline, and other ancillary services to deliver a differentiated shopping experience that is further enhanced by our omnichannel capabilities. Additionally, the Company provides access to coupons and promotions to deliver further value to our members. As of August 3, 2024, the Company operated 244 warehouse clubs and 178 gas stations in 20 states.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Aug. 03, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies (a) Basis of Presentation The accompanying interim financial statements of BJ’s Wholesale Club Holdings, Inc. are unaudited and, in the opinion of management, reflect all normal recurring adjustments considered necessary for a fair statement of the Company’s financial statements in accordance with GAAP. The condensed consolidated balance sheet as of February 3, 2024 is derived from the audited consolidated balance sheet as of that date. The Company’s business, as is common with the business of retailers generally, is subject to seasonal influences. The Company’s sales and operating income have typically been highest in the fourth quarter holiday season and lowest in the first quarter of each fiscal year. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and footnotes thereto included in our Annual Report on Form 10-K for the fiscal year 2023, as filed with the Securities and Exchange Commission on March 18, 2024. (b) Fiscal Year The Company follows the National Retail Federation’s fiscal calendar and reports financial information on a 52- or 53-week year ending on the Saturday closest to January 31. The thirteen-week periods ended August 3, 2024 and July 29, 2023 are referred to herein as the "second quarter of fiscal year 2024" and the "second quarter of fiscal year 2023," respectively. The twenty-six week periods ended August 3, 2024 and July 29, 2023 are referred to herein as the "twenty-six weeks ended August 3, 2024" and the "twenty-six weeks ended July 29, 2023," respectively. Operating results for the thirteen week and twenty-six week periods ended August 3, 2024 are not necessarily indicative of the results that may be expected for the 52-week fiscal year ending February 1, 2025. (c) Recent Accounting Pronouncements and Policies The Company’s accounting policies are set forth in the audited financial statements included in the Company’s Annual Report on Form 10-K for fiscal year 2023. There have been no material changes to these accounting policies and no accounting pronouncements adopted that had a material impact on the Company’s financial statements. In December 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures . ASU 2023-09 will require public companies to disclose, on an annual basis, a tabular reconciliation, using both percentages and amounts, broken out into specific categories with certain reconciling items at or above 5% of the statutory tax, further broken out by nature and/or jurisdiction. ASU 2023-09 requires all entities to disclose, on an annual basis, the amount of income taxes paid (net of refunds received), disaggregated between federal, state/local and foreign, and amounts paid to an individual jurisdiction when 5% or more of the total income taxes paid. The new standard is effective for fiscal years beginning after December 15, 2024, on a prospective basis. Early adoption and retrospective application are permitted. The Company is currently evaluating the impact the adoption of this new pronouncement will have on its financial statement disclosures. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which expands the segment reporting disclosures and requires disclosure of segment expenses that are regularly provided to the chief operating decision maker ("CODM") and included within each reported measure of segment profit or loss, amounts and description of its composition for other segment items, and interim disclosure of a reportable segment’s profit or loss and assets. Additionally, the amendments require the disclosure of the title and position of the CODM and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing performance and deciding how to allocate resources. The new standard is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, on a retrospective basis. Early adoption is permitted. The Company is currently evaluating the impact the adoption of this new pronouncement will have on its financial statement disclosures.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Aug. 03, 2024
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Net sales The Company recognizes net sales at clubs and gas stations when the customer takes possession of the goods and tenders payment. Sales tax is recorded as a liability at the point-of-sale. Revenue is recorded at the point-of-sale based on the transaction price, net of any applicable discounts, sales tax, and expected refunds. For e-commerce sales, the Company recognizes sales when control of the merchandise is transferred to the customer, which is typically at the time of shipment. Rewards programs The Company’s BJ’s Perks Rewards membership program which was in place in fiscal year 2022 and the first month of fiscal year 2023, allowed participating members to earn 2% cash back, up to a maximum of $500 per year, on qualified purchases made at BJ’s. The Company also offered a co-branded credit card program, the My BJ’s Perks program, which allowed My BJ’s Perks Mastercard credit card holders to earn up to a 10-cent per gallon discount on gasoline, up to 5% cash back on eligible purchases made in BJ’s clubs or online at bjs.com, and up to 2% cash back on purchases made with the card outside of BJ’s. Cash back was in the form of electronic awards issued in $10 increments that could be used online or in-club and expired six months from the date issued. In the first quarter of fiscal year 2023, the Company rebranded the rewards program. The former BJ's Perks Rewards membership program is now the Club+ program, whereby participating members earn 2% cash back, up to a maximum of $500 per year, on qualified purchases made at BJs and a 5-cent per gallon discount at BJ's gas locations. Cash back is in the form of electronic awards issued to each member once $10 in rewards have been earned. Earned rewards under the Club+ program do not expire. The Company's co-branded credit card program is now the BJ's One and BJ's One+ program, which allows cardholders with the opportunity to earn up to 5% cash back on purchases made in BJ's clubs or online at bjs.com and up to a 15-cent per gallon discount on gasoline when paying with a BJ's One or BJ's One+ Mastercard at our BJ’s gas locations. Cash back is in the form of electronic awards issued to each member monthly on their credit card statement date. Earned rewards under the co-branded credit card program do not expire. The Company accounts for these transactions as multiple-element arrangements and allocates the transaction price to separate performance obligations using their relative fair values. The Company includes the fair value of award dollars earned in deferred revenue at the time the award dollars are earned. Earned awards may be redeemed on future purchases made at the Company. The Company recognizes revenue related to earned awards when customers redeem such awards as part of a purchase at one of the Company’s clubs or on the Company’s website or mobile app. The Company recognizes royalty revenue related to the outstanding My BJ's Perks and BJ's One and BJ's One+ credit card programs based upon actual customer activities, such as reward redemptions. Additionally, the Company deferred revenue for funds received related to marketing and other integration costs in connection with the new co-brand credit card program and will recognize these funds into revenue as performance obligations are satisfied. Membership The Company charges a membership fee to its customers, which allows customers to shop in the Company’s clubs, shop on the Company’s website, and purchase gasoline at the Company’s gas stations for the duration of the membership, which is generally 12 months. In addition, members have access to other ancillary services, coupons, and promotions. As the Company has the obligation to provide access to its clubs, website, and gas stations for the duration of the membership term, the Company recognizes membership fees on a straight-line basis over the life of the membership. Gift Card Programs The Company sells BJ’s gift cards that allow customers to redeem the cards for future purchases equal to the amount of the face value of the gift card. Revenue from gift card sales is recognized upon redemption of the gift cards and control of the purchased goods or services is transferred to the customer. Contract Balances The following table summarizes the Company's deferred revenue balance related to outstanding performance obligations for contracts with customers (in thousands): August 3, 2024 February 3, 2024 July 29, 2023 Current: Rewards programs: Earned award dollars $ 55,688 $ 49,135 $ 43,134 Royalty revenue 5,688 4,593 5,648 Co-brand marketing & integration 4,075 4,181 4,726 Total rewards programs 65,451 57,909 53,508 Membership 240,804 231,440 195,251 Gift card programs 14,885 15,290 13,427 E-commerce sales 7,193 6,757 7,442 Long-term: Rewards programs: Co-brand marketing & integration 4,689 6,216 7,218 Total deferred revenue $ 333,022 $ 317,612 $ 276,846 Current and long-term deferred revenue balances are included within accrued expenses and other current liabilities and other non-current liabilities, respectively, in the condensed consolidated balance sheets. The following table summarizes the Company's revenue recognized during the period that was included in the opening deferred balance as of February 3, 2024 and January 28, 2023 (in thousands) : Twenty-six Weeks Ended August 3, 2024 July 29, 2023 Rewards programs: Earned award dollars $ 49,135 34,676 Royalty revenue 4,593 17,877 Co-brand marketing & integration 1,632 6,665 Total rewards programs 55,360 59,218 Membership 169,139 141,173 Gift card programs 3,868 4,064 E-commerce sales 6,757 2,731 Total revenue $ 235,124 $ 207,186 Performance obligations related to earned award dollars, royalty revenue, and membership fees are typically satisfied over a period of twelve months or less. Funds received related to marketing and other integration costs in connection with our co-brand credit card program are recognized as performance obligations are satisfied. The timing and recognition of gift card redemptions varies depending on consumer behavior and spending patterns. Disaggregation of Revenue The Company’s club retail operations, which include retail club and other sales procured from our clubs and distribution centers, represent substantially all of its consolidated total revenues and are the Company’s only reportable segment. Substantially all of the Company’s identifiable assets are located in the United States. The Company does not have significant sales outside the United States, nor does any customer represent more than 10% of total revenues for any period presented. The following table summarizes the Company’s percentage of net sales disaggregated by category: Thirteen Weeks Ended Twenty-six Weeks Ended August 3, 2024 July 29, 2023 August 3, 2024 July 29, 2023 Grocery 70 % 70 % 70 % 71 % General Merchandise and Services 11 % 11 % 11 % 10 % Gasoline and Other 19 % 19 % 19 % 19 %

Debt and Credit Arrangements

Debt and Credit Arrangements	6 Months Ended
	Aug. 03, 2024
Debt Disclosure [Abstract]
Debt and Credit Arrangements	Debt and Credit Arrangements The following table summarizes the Company’s debt (in thousands): August 3, 2024 February 3, 2024 July 29, 2023 ABL Revolving Facility $ 217,000 $ 319,000 $ 411,000 First Lien Term Loan 400,000 400,000 450,000 Unamortized original issue discount and debt issuance costs (1,414) (1,568) (1,865) Less: Short-term debt (217,000) (319,000) (411,000) Long-term debt $ 398,586 $ 398,432 $ 448,135 ABL Revolving Facility On July 28, 2022, the Company entered into the ABL Revolving Facility with an ABL Revolving Commitment of $1.2 billion pursuant to that certain credit agreement (the "Credit Agreement") with Bank of America, N.A., as administrative agent and collateral agent, and the other lenders party thereto. The maturity date of the ABL Revolving Facility is July 28, 2027. Revolving loans under the ABL Revolving Facility are available in an aggregate amount equal to the lesser of the aggregate ABL Revolving Commitment or a borrowing base based on the value of certain inventory and accounts and credit card receivables, subject to specified advance rebates and reserves as set forth in the Credit Agreement. Indebtedness under the ABL Revolving Facility is secured by substantially all of the assets (other than real estate) of the Company and its subsidiaries, subject to customary exceptions. As amended, interest on the ABL Revolving Facility is calculated either at SOFR plus a range of 100 to 125 basis points or a base rate plus 0 to 25 basis points, based on excess availability. The Company will also pay an unused commitment fee of 20 basis points per annum on the unused ABL Revolving Commitment. Each borrowing is for a period of one three The ABL Revolving Facility places certain restrictions (i.e., covenants) upon the Borrower’s, and its subsidiaries’, ability to, among other things, incur additional indebtedness, pay dividends, and make certain loans, investments, and divestitures. The ABL Revolving Facility contains customary events of default (including payment defaults, cross-defaults to certain of our other indebtedness, breach of representations and covenants and change of control). The occurrence of an event of default under the ABL Revolving Facility would permit the lenders to accelerate the indebtedness and terminate the ABL Revolving Facility. As of August 3, 2024, there was $217.0 million outstanding in loans under the ABL Revolving Facility and $15.9 million in outstanding letters of credit. The interest rate on the ABL Revolving Facility was 6.44% and unused capacity was $926.6 million. As of February 3, 2024 and July 29, 2023, the interest rate on the ABL Revolving Facility was 6.44% and 6.42%, respectively. First Lien Term Loan On October 12, 2023, the Company entered into an amendment (the “Fourth Amendment”) to the First Lien Term Loan Credit Agreement, with Nomura Corporate Funding Americas, LLC, as administrative agent and collateral agent and the lenders party thereto. Deutsche Bank Securities Inc. acted as the left lead arranger and bookrunner, and Nomura Securities International, Inc., BofA Securities, Inc., and Wells Fargo Securities LLC acted as joint lead arrangers and joint bookrunners of the Fourth Amendment. The Fourth Amendment, among other things, extended the maturity date with respect to the term loans outstanding under the First Lien Term Loan Credit Agreement from February 3, 2027 to February 3, 2029. In addition, the Fourth Amendment reduced applicable margin in respect of the interest rate from SOFR plus 275 basis points per annum to SOFR plus 200 basis points per annum. Voluntary prepayments are permitted. Principal payments must be made on the First Lien Term Loan pursuant to an annual excess cash flow calculation when the net leverage ratio exceeds 3.50 to 1.00. As of August 3, 2024, the Company's net leverage ratio did not exceed 3.50 to 1.00, and therefore, no incremental principal payments were required. The First Lien Term Loan is subject to certain affirmative and negative covenants. It is secured on a senior basis by certain "fixed assets" of the Company and on a junior basis by certain "liquid" assets of the Company. There was $400.0 million, $400.0 million, and $450.0 million outstanding under the First Lien Term Loan as of August 3, 2024, February 3, 2024, and July 29, 2023, respectively. The interest rate on the First Lien Term Loan was 7.33%, 7.33%, and 7.89% at August 3, 2024, February 3, 2024, and July 29, 2023, respectively.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Aug. 03, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company is involved in various legal proceedings that are typical of a retail business. In accordance with applicable accounting guidance, an accrual will be established for legal proceedings if and when those matters present loss contingencies that are both probable and estimable. The Company does not believe the resolution of any current proceedings will result in a material loss to the condensed consolidated financial statements.

Stock Incentive Plans

Stock Incentive Plans	6 Months Ended
	Aug. 03, 2024
Share-Based Payment Arrangement [Abstract]
Stock Incentive Plans	Stock Incentive Plans On June 13, 2018, the Company’s board of directors adopted, and its stockholders approved, the BJ’s Wholesale Club Holdings, Inc. 2018 Incentive Award Plan (the "2018 Plan"). The 2018 Plan provides for the grant of stock options, restricted stock, dividend equivalents, stock payments, restricted stock units, performance shares, other incentive awards, stock appreciation rights, and cash awards. The 2018 Plan authorizes the issuance of 13,148,058 shares. If an award under the 2018 Plan is forfeited, expires, or is settled for cash, any shares subject to such award may, to the extent of such forfeiture, expiration, or cash settlement, be used again for new grants under the 2018 Plan. Additionally, shares tendered or withheld to satisfy grant or exercise price, or tax withholding obligations associated with an award under the 2018 Plan will be added to the shares authorized for grant under the 2018 Plan. The following shares may not be used again for grant under the 2018 Plan: (1) shares subject to a stock appreciation right ("SAR") that are not issued in connection with the stock settlement of the SAR upon its exercise and (2) shares purchased on the open market with the cash proceeds from the exercise of options under the 2018 Plan. As of August 3, 2024, there were 4,517,210 shares available for future issuance under the 2018 Plan. The following table summarizes the Company’s stock award activity during the twenty-six weeks ended August 3, 2024 (shares in thousands): Stock Options Restricted Stock Restricted Stock Units Performance Stock Shares Weighted- Shares Weighted- Shares Weighted- Shares (a) Weighted- Outstanding, February 3, 2024 1,655 $ 20.53 621 $ 67.35 22 $ 62.13 677 $ 58.84 Granted (b) — — — — 377 75.32 425 76.65 Forfeited/canceled — — (17) 72.76 (8) 74.64 (10) 71.07 Exercised/vested (692) 22.36 (306) 61.68 (22) 62.13 (458) 44.31 Outstanding, August 3, 2024 963 $ 19.23 298 $ 72.86 369 $ 75.34 634 $ 69.42 (a) Shares outstanding reflect a 100% payout, however, the actual payout for the remaining performance stock awards granted in fiscal year 2021 is expected to be 200%. Actual payout for the performance stock awards granted in each of fiscal year 2022 and 2023, which vest in fiscal year 2025 and 2026, respectively, could be below 100% or up to 200%. Actual payout for the performance stock awards granted in fiscal year 2024, which vest in fiscal year 2027, could be below 100% or up to 300%. (b) Includes 229 incremental performance stock awards granted in fiscal year 2021 with a weighted-average grant date fair value of $44.31, that vested in fiscal year 2024 at greater than 100% of target payout based on performance. Stock-based compensation expense was $10.3 million and $9.6 million for the thirteen weeks ended August 3, 2024 and July 29, 2023, respectively, and $18.9 million and $19.6 million for the twenty-six weeks ended August 3, 2024 and July 29, 2023, respectively. On June 14, 2018, the Company’s board of directors adopted, and its stockholders approved, the ESPP, which became effective July 1, 2018. The aggregate number of shares of common stock reserved for issuance under the ESPP is equal to the sum of (i) 973,014 shares and (ii) an annual increase on the first day of each calendar year beginning in 2019 and ending in 2028 equal to the lesser of (A) 486,507 shares, (B) 0.5% of the shares outstanding (on an as converted basis) on the last day of the immediately preceding fiscal year and (C) such smaller number of shares as determined by the Company's board of directors. The amount of expense recognized related to the ESPP was $0.3 million and $0.4 million for the thirteen weeks ended August 3, 2024 and July 29, 2023, respectively, and $0.8 million and $0.7 million for the twenty-six weeks ended August 3, 2024 and July 29, 2023, respectively. As of August 3, 2024, there were 2,834,406 shares available for issuance under the ESPP.

Treasury Shares and Share Repur

Treasury Shares and Share Repurchase Program	6 Months Ended
	Aug. 03, 2024
Equity [Abstract]
Treasury Shares and Share Repurchase Program	Treasury Shares and Share Repurchase Program Treasury Shares Acquired on Restricted Stock and Performance Stock Awards The Company acquired 545 shares to satisfy employees’ tax withholding obligations upon the vesting of restricted stock awards in the thirteen weeks ended August 3, 2024, which was recorded as an immaterial amount of treasury stock. The Company acquired 3,625 shares to satisfy employees' tax withholding obligations upon the vesting of restricted stock awards in the thirteen weeks ended July 29, 2023, which was recorded as $0.3 million of treasury stock. The Company acquired 357,996 shares to satisfy employees’ tax withholding obligations upon the vesting of restricted stock and performance stock awards in the twenty-six weeks ended August 3, 2024, which was recorded as $26.7 million of treasury stock. The Company acquired 359,827 shares to satisfy employees' tax withholding obligations upon the vesting of restricted stock and performance stock awards in the twenty-six weeks ended July 29, 2023, which was recorded as $27.4 million of treasury stock. Share Repurchase Program On November 16, 2021, the Company's board of directors approved a share repurchase program (the "2021 Repurchase Program") that allows the Company to repurchase up to $500.0 million of its outstanding common stock from time to time as market conditions warrant. The 2021 Repurchase Program expires in January 2025. The Company initiated the 2021 Repurchase Program to mitigate potentially dilutive effects of stock awards granted by the Company, in addition to enhancing shareholder value. The Company repurchased 451,982 shares for $40.8 million and 715,122 shares for $44.6 million during the thirteen weeks ended August 3, 2024 and July 29, 2023, respectively. The Company repurchased 857,092 shares for $71.0 million and 919,162 shares for $59.9 million during the twenty-six weeks ended August 3, 2024 and July 29, 2023, respectively. The Company accounts for treasury stock under the cost method based on the fair market value of the shares on the dates of repurchase plus any direct costs incurred. As of August 3, 2024, $118.7 million remained available to purchase under the 2021 Repurchase Program.

Income Taxes

Income Taxes	6 Months Ended
	Aug. 03, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company projects the estimated annual effective tax rate for fiscal year 2024 to be 28.0%, excluding the tax effect of discrete events, such as excess tax benefits from stock-based compensation, changes in tax legislation, settlements of tax audits and changes in uncertain tax positions, among others. The Company’s effective income tax rate from continuing operations was 24.1% and 28.6% for the thirteen weeks ended August 3, 2024 and July 29, 2023, respectively. For the twenty-six weeks ended August 3, 2024 and July 29, 2023, the Company's effective tax rate from continuing operations was 24.2% and 30.5%, respectively. The decrease in income tax expense for both comparative periods is primarily driven by higher tax benefits from stock-based compensation in the current period. The Company is subject to taxation in the U.S. federal and various state taxing jurisdictions. The Company’s tax years from 2019 forward remain open and subject to examination by the Internal Revenue Service and various state taxing authorities.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Aug. 03, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Certain assets and liabilities are required to be carried at fair value in accordance with GAAP. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The Company uses a three-level hierarchy that prioritizes the inputs used to measure fair value. This hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. Financial assets and liabilities carried at fair value are to be classified and disclosed in one of the following three levels of the fair value hierarchy, of which the first two are considered observable and the last is considered unobservable: Level 1: Quoted market prices in active markets for identical assets or liabilities. Level 2: Observable inputs other than quoted market prices included in Level 1 such as quoted market prices for markets that are not active or other inputs that are observable or can be corroborated by observable market data. Level 3: Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities, including certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. Financial Assets and Liabilities The fair value of the Company's long-term debt is estimated based on current market rates for our specific debt instrument. Judgment is required to develop these estimates. As such, the estimated fair value of long-term debt is classified within Level 2, as defined under U.S. GAAP. The gross carrying amount and fair value of the Company’s debt at August 3, 2024 are as follows (in thousands): Carrying Amount Fair Value ABL Revolving Facility $ 217,000 $ 217,000 First Lien Term Loan 400,000 401,624 Total Debt $ 617,000 $ 618,624 The gross carrying amount and fair value of the Company’s debt at February 3, 2024 are as follows (in thousands): Carrying Amount Fair Value ABL Revolving Facility $ 319,000 $ 319,000 First Lien Term Loan 400,000 401,168 Total Debt $ 719,000 $ 720,168 The gross carrying amount and fair value of the Company’s debt at July 29, 2023 are as follows (in thousands): Carrying Amount Fair Value ABL Revolving Facility $ 411,000 $ 411,000 First Lien Term Loan 450,000 450,311 Total Debt $ 861,000 $ 861,311 Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis The Company measures certain non-financial assets and liabilities, including long-lived assets, at fair value on a non-recurring basis. The Company believes that the carrying amounts of its other financial instruments, including cash, accounts receivable, and accounts payable, approximate their fair values due to the short-term maturities of these instruments.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Aug. 03, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The table below reconciles basic weighted-average shares of common stock outstanding to diluted weighted-average shares of common stock outstanding for the thirteen and twenty-six weeks ended August 3, 2024 and July 29, 2023 (in thousands): Thirteen Weeks Ended Twenty-six Weeks Ended August 3, 2024 July 29, 2023 August 3, 2024 July 29, 2023 Weighted-average shares of common stock outstanding, used for basic computation 132,431 133,317 132,414 133,314 Plus: Incremental shares of potentially dilutive securities 1,418 1,812 1,566 2,201 Weighted-average shares of common stock and dilutive potential shares of common stock outstanding 133,849 135,129 133,980 135,515 The table below summarizes awards that were excluded from the computation of diluted earnings for the thirteen and twenty-six weeks ended August 3, 2024 and July 29, 2023, as their inclusion would have been anti-dilutive (in thousands): Thirteen Weeks Ended Twenty-six Weeks Ended August 3, 2024 July 29, 2023 August 3, 2024 July 29, 2023 Stock-based awards 9 315 169 208

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Aug. 03, 2024	May 04, 2024	Jul. 29, 2023	Apr. 29, 2023	Aug. 03, 2024	Jul. 29, 2023
Pay vs Performance Disclosure
Net income	$ 144,988	$ 111,019	$ 131,325	$ 116,077	$ 256,007	$ 247,402

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Aug. 03, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Aug. 03, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying interim financial statements of BJ’s Wholesale Club Holdings, Inc. are unaudited and, in the opinion of management, reflect all normal recurring adjustments considered necessary for a fair statement of the Company’s financial statements in accordance with GAAP. The condensed consolidated balance sheet as of February 3, 2024 is derived from the audited consolidated balance sheet as of that date. The Company’s business, as is common with the business of retailers generally, is subject to seasonal influences. The Company’s sales and operating income have typically been highest in the fourth quarter holiday season and lowest in the first quarter of each fiscal year. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and footnotes thereto included in our Annual Report on Form 10-K for the fiscal year 2023, as filed with the Securities and Exchange Commission on March 18, 2024.
Fiscal Year	Fiscal YearThe Company follows the National Retail Federation’s fiscal calendar and reports financial information on a 52- or 53-week year ending on the Saturday closest to January 31. The thirteen-week periods ended August 3, 2024 and July 29, 2023 are referred to herein as the "second quarter of fiscal year 2024" and the "second quarter of fiscal year 2023," respectively. The twenty-six week periods ended August 3, 2024 and July 29, 2023 are referred to herein as the "twenty-six weeks ended August 3, 2024" and the "twenty-six weeks ended July 29, 2023," respectively. Operating results for the thirteen week and twenty-six week periods ended August 3, 2024 are not necessarily indicative of the results that may be expected for the 52-week fiscal year ending February 1, 2025.
Recent Accounting Pronouncements and Policies	Recent Accounting Pronouncements and Policies The Company’s accounting policies are set forth in the audited financial statements included in the Company’s Annual Report on Form 10-K for fiscal year 2023. There have been no material changes to these accounting policies and no accounting pronouncements adopted that had a material impact on the Company’s financial statements. In December 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures . ASU 2023-09 will require public companies to disclose, on an annual basis, a tabular reconciliation, using both percentages and amounts, broken out into specific categories with certain reconciling items at or above 5% of the statutory tax, further broken out by nature and/or jurisdiction. ASU 2023-09 requires all entities to disclose, on an annual basis, the amount of income taxes paid (net of refunds received), disaggregated between federal, state/local and foreign, and amounts paid to an individual jurisdiction when 5% or more of the total income taxes paid. The new standard is effective for fiscal years beginning after December 15, 2024, on a prospective basis. Early adoption and retrospective application are permitted. The Company is currently evaluating the impact the adoption of this new pronouncement will have on its financial statement disclosures. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which expands the segment reporting disclosures and requires disclosure of segment expenses that are regularly provided to the chief operating decision maker ("CODM") and included within each reported measure of segment profit or loss, amounts and description of its composition for other segment items, and interim disclosure of a reportable segment’s profit or loss and assets. Additionally, the amendments require the disclosure of the title and position of the CODM and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing performance and deciding how to allocate resources. The new standard is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, on a retrospective basis. Early adoption is permitted. The Company is currently evaluating the impact the adoption of this new pronouncement will have on its financial statement disclosures.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Aug. 03, 2024
Revenue from Contract with Customer [Abstract]
Summary of Deferred Revenue Related to Outstanding Performance Obligations and Revenue Recognized	The following table summarizes the Company's deferred revenue balance related to outstanding performance obligations for contracts with customers (in thousands): August 3, 2024 February 3, 2024 July 29, 2023 Current: Rewards programs: Earned award dollars $ 55,688 $ 49,135 $ 43,134 Royalty revenue 5,688 4,593 5,648 Co-brand marketing & integration 4,075 4,181 4,726 Total rewards programs 65,451 57,909 53,508 Membership 240,804 231,440 195,251 Gift card programs 14,885 15,290 13,427 E-commerce sales 7,193 6,757 7,442 Long-term: Rewards programs: Co-brand marketing & integration 4,689 6,216 7,218 Total deferred revenue $ 333,022 $ 317,612 $ 276,846 The following table summarizes the Company's revenue recognized during the period that was included in the opening deferred balance as of February 3, 2024 and January 28, 2023 (in thousands) : Twenty-six Weeks Ended August 3, 2024 July 29, 2023 Rewards programs: Earned award dollars $ 49,135 34,676 Royalty revenue 4,593 17,877 Co-brand marketing & integration 1,632 6,665 Total rewards programs 55,360 59,218 Membership 169,139 141,173 Gift card programs 3,868 4,064 E-commerce sales 6,757 2,731 Total revenue $ 235,124 $ 207,186
Summary of Disaggregation of Revenue	The following table summarizes the Company’s percentage of net sales disaggregated by category: Thirteen Weeks Ended Twenty-six Weeks Ended August 3, 2024 July 29, 2023 August 3, 2024 July 29, 2023 Grocery 70 % 70 % 70 % 71 % General Merchandise and Services 11 % 11 % 11 % 10 % Gasoline and Other 19 % 19 % 19 % 19 %

Debt and Credit Arrangements (T

Debt and Credit Arrangements (Tables)	6 Months Ended
	Aug. 03, 2024
Debt Disclosure [Abstract]
Summary of Debt	The following table summarizes the Company’s debt (in thousands): August 3, 2024 February 3, 2024 July 29, 2023 ABL Revolving Facility $ 217,000 $ 319,000 $ 411,000 First Lien Term Loan 400,000 400,000 450,000 Unamortized original issue discount and debt issuance costs (1,414) (1,568) (1,865) Less: Short-term debt (217,000) (319,000) (411,000) Long-term debt $ 398,586 $ 398,432 $ 448,135

Stock Incentive Plans (Tables)

Stock Incentive Plans (Tables)	6 Months Ended
	Aug. 03, 2024
Share-Based Payment Arrangement [Abstract]
Summary of Stock Award Activity	The following table summarizes the Company’s stock award activity during the twenty-six weeks ended August 3, 2024 (shares in thousands): Stock Options Restricted Stock Restricted Stock Units Performance Stock Shares Weighted- Shares Weighted- Shares Weighted- Shares (a) Weighted- Outstanding, February 3, 2024 1,655 $ 20.53 621 $ 67.35 22 $ 62.13 677 $ 58.84 Granted (b) — — — — 377 75.32 425 76.65 Forfeited/canceled — — (17) 72.76 (8) 74.64 (10) 71.07 Exercised/vested (692) 22.36 (306) 61.68 (22) 62.13 (458) 44.31 Outstanding, August 3, 2024 963 $ 19.23 298 $ 72.86 369 $ 75.34 634 $ 69.42 (a) Shares outstanding reflect a 100% payout, however, the actual payout for the remaining performance stock awards granted in fiscal year 2021 is expected to be 200%. Actual payout for the performance stock awards granted in each of fiscal year 2022 and 2023, which vest in fiscal year 2025 and 2026, respectively, could be below 100% or up to 200%. Actual payout for the performance stock awards granted in fiscal year 2024, which vest in fiscal year 2027, could be below 100% or up to 300%. (b) Includes 229 incremental performance stock awards granted in fiscal year 2021 with a weighted-average grant date fair value of $44.31, that vested in fiscal year 2024 at greater than 100% of target payout based on performance.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Aug. 03, 2024
Fair Value Disclosures [Abstract]
Summary of Gross Carrying Amount and Fair Value of Debt	The gross carrying amount and fair value of the Company’s debt at August 3, 2024 are as follows (in thousands): Carrying Amount Fair Value ABL Revolving Facility $ 217,000 $ 217,000 First Lien Term Loan 400,000 401,624 Total Debt $ 617,000 $ 618,624 The gross carrying amount and fair value of the Company’s debt at February 3, 2024 are as follows (in thousands): Carrying Amount Fair Value ABL Revolving Facility $ 319,000 $ 319,000 First Lien Term Loan 400,000 401,168 Total Debt $ 719,000 $ 720,168 The gross carrying amount and fair value of the Company’s debt at July 29, 2023 are as follows (in thousands): Carrying Amount Fair Value ABL Revolving Facility $ 411,000 $ 411,000 First Lien Term Loan 450,000 450,311 Total Debt $ 861,000 $ 861,311

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Aug. 03, 2024
Earnings Per Share [Abstract]
Summary of Basic and Diluted Weighted-average Shares of Common Stock Outstanding	The table below reconciles basic weighted-average shares of common stock outstanding to diluted weighted-average shares of common stock outstanding for the thirteen and twenty-six weeks ended August 3, 2024 and July 29, 2023 (in thousands): Thirteen Weeks Ended Twenty-six Weeks Ended August 3, 2024 July 29, 2023 August 3, 2024 July 29, 2023 Weighted-average shares of common stock outstanding, used for basic computation 132,431 133,317 132,414 133,314 Plus: Incremental shares of potentially dilutive securities 1,418 1,812 1,566 2,201 Weighted-average shares of common stock and dilutive potential shares of common stock outstanding 133,849 135,129 133,980 135,515
Summary of Anti-dilutive Restricted Shares and Stock Options	The table below summarizes awards that were excluded from the computation of diluted earnings for the thirteen and twenty-six weeks ended August 3, 2024 and July 29, 2023, as their inclusion would have been anti-dilutive (in thousands): Thirteen Weeks Ended Twenty-six Weeks Ended August 3, 2024 July 29, 2023 August 3, 2024 July 29, 2023 Stock-based awards 9 315 169 208

Description of Business (Detail

Description of Business (Details)	Aug. 03, 2024 gas_station warehouse_club state
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of stores | warehouse_club	244
Number of gas stations | gas_station	178
Number of states in which entity operates | state	20

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details)	3 Months Ended	6 Months Ended	13 Months Ended
	Apr. 29, 2023 USD ($) $ / gal	Aug. 03, 2024 $ / gal	Feb. 28, 2023 USD ($) $ / gal
Membership
Revenue, Major Customer [Line Items]
Percentage of cash back earned	2%		2%
Maximum annual cash back amount | $	$ 500		$ 500
Discount on gasoline (in USD per gallon) | $ / gal	0.05
Cash back in the form of electronic awards issued | $	$ 10		$ 10
Cash back, expiration period			6 months
Membership fee term		12 months
Credit card program
Revenue, Major Customer [Line Items]
Percentage of cash back earned		5%
Discount on gasoline (in USD per gallon) | $ / gal		0.15	0.10
Percentage of cash back earned, eligible purchases			5%
Percentage of cash back earned, outside purchases			2%

Revenue Recognition - Deferred

Revenue Recognition - Deferred Revenue Relating to Outstanding Performance Obligations (Details) - USD ($) $ in Thousands	Aug. 03, 2024	Feb. 03, 2024	Jul. 29, 2023
Disaggregation of Revenue [Line Items]
Deferred revenue	$ 333,022	$ 317,612	$ 276,846
Rewards programs:
Disaggregation of Revenue [Line Items]
Deferred revenue, current	65,451	57,909	53,508
Earned award dollars
Disaggregation of Revenue [Line Items]
Deferred revenue, current	55,688	49,135	43,134
Royalty revenue
Disaggregation of Revenue [Line Items]
Deferred revenue, current	5,688	4,593	5,648
Co-brand marketing & integration
Disaggregation of Revenue [Line Items]
Deferred revenue, current	4,075	4,181	4,726
Deferred revenue, non-current	4,689	6,216	7,218
Membership
Disaggregation of Revenue [Line Items]
Deferred revenue, current	240,804	231,440	195,251
Gift card programs
Disaggregation of Revenue [Line Items]
Deferred revenue, current	14,885	15,290	13,427
E-commerce sales
Disaggregation of Revenue [Line Items]
Deferred revenue, current	$ 7,193	$ 6,757	$ 7,442

Revenue Recognition - Revenue R

Revenue Recognition - Revenue Recognized (Details) - USD ($) $ in Thousands	3 Months Ended
	Aug. 03, 2024	Jul. 29, 2023
Disaggregation of Revenue [Line Items]
Total revenue	$ 235,124	$ 207,186
Rewards programs:
Disaggregation of Revenue [Line Items]
Total revenue	55,360	59,218
Earned award dollars
Disaggregation of Revenue [Line Items]
Total revenue	49,135	34,676
Royalty revenue
Disaggregation of Revenue [Line Items]
Total revenue	4,593	17,877
Co-brand marketing & integration
Disaggregation of Revenue [Line Items]
Total revenue	1,632	6,665
Membership
Disaggregation of Revenue [Line Items]
Total revenue	169,139	141,173
Gift card programs
Disaggregation of Revenue [Line Items]
Total revenue	3,868	4,064
E-commerce sales
Disaggregation of Revenue [Line Items]
Total revenue	$ 6,757	$ 2,731

Revenue Recognition - Percentag

Revenue Recognition - Percentage of Net Sales Disaggregated by Category (Details)	3 Months Ended		6 Months Ended
	Aug. 03, 2024	Jul. 29, 2023	Aug. 03, 2024	Jul. 29, 2023
Grocery
Disaggregation of Revenue [Line Items]
Net sales percentage	70%	70%	70%	71%
General Merchandise and Services
Disaggregation of Revenue [Line Items]
Net sales percentage	11%	11%	11%	10%
Gasoline and Other
Disaggregation of Revenue [Line Items]
Net sales percentage	19%	19%	19%	19%

Debt and Credit Arrangements -

Debt and Credit Arrangements - Debt Components (Details) - USD ($) $ in Thousands	Aug. 03, 2024	Feb. 03, 2024	Jul. 29, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Carrying amount	$ 617,000	$ 719,000	$ 861,000
Unamortized original issue discount and debt issuance costs	(1,414)	(1,568)	(1,865)
Less: Short-term debt	(217,000)	(319,000)	(411,000)
Long-term debt	398,586	398,432	448,135
ABL Revolving Facility
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Carrying amount	217,000	319,000	411,000
First Lien Term Loan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Carrying amount	$ 400,000	$ 400,000	$ 450,000

Debt and Credit Arrangements _2

Debt and Credit Arrangements - Narrative (Details) $ in Thousands	Oct. 12, 2023	Oct. 11, 2023	Jul. 28, 2022 USD ($)	Aug. 03, 2024 USD ($)	Feb. 03, 2024 USD ($)	Jul. 29, 2023 USD ($)
Debt Instrument [Line Items]
Carrying Amount				$ 617,000	$ 719,000	$ 861,000
ABL Revolving Facility
Debt Instrument [Line Items]
Carrying Amount				217,000	319,000	411,000
First Lien Term Loan
Debt Instrument [Line Items]
Carrying Amount				400,000	$ 400,000	$ 450,000
Revolving Credit Facility | ABL Revolving Facility
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 1,200,000
Commitment fee percentage			0.20%
Carrying Amount				$ 217,000
Interest rate at end of period				6.44%	6.44%	6.42%
Unused capacity				$ 926,600
Revolving Credit Facility | ABL Revolving Facility | Term One
Debt Instrument [Line Items]
Term of borrowing			1 month
Revolving Credit Facility | ABL Revolving Facility | Term Two
Debt Instrument [Line Items]
Term of borrowing			3 months
Revolving Credit Facility | ABL Revolving Facility | Term Three
Debt Instrument [Line Items]
Term of borrowing			6 months
Revolving Credit Facility | ABL Revolving Facility | Term Four
Debt Instrument [Line Items]
Term of borrowing			12 months
Revolving Credit Facility | ABL Revolving Facility | Minimum | SOFR
Debt Instrument [Line Items]
Basis spread on variable rate			1%
Revolving Credit Facility | ABL Revolving Facility | Minimum | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate			0%
Revolving Credit Facility | ABL Revolving Facility | Maximum | SOFR
Debt Instrument [Line Items]
Basis spread on variable rate			1.25%
Revolving Credit Facility | ABL Revolving Facility | Maximum | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate			0.25%
Letter of Credit | ABL Revolving Facility
Debt Instrument [Line Items]
Carrying Amount				15,900
Term Loan | First Lien Term Loan | Line of Credit
Debt Instrument [Line Items]
Carrying Amount				$ 400,000	$ 400,000	$ 450,000
Net leverage ratio	3.50
Net leverage ratio, actual (did not exceed)				3.50
Effective interest rate				7.33%	7.33%	7.89%
Term Loan | First Lien Term Loan | SOFR | Line of Credit
Debt Instrument [Line Items]
Basis spread on variable rate	2%	2.75%

Stock Incentive Plans - Narrati

Stock Incentive Plans - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 03, 2024	Jul. 29, 2023	Aug. 03, 2024	Jul. 29, 2023	Jun. 14, 2018	Jun. 13, 2018
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense	$ 10.3	$ 9.6	$ 18.9	$ 19.6
The 2018 Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares authorized for issuance (in shares)						13,148,058
Shares available for future issuance (in shares)	4,517,210		4,517,210
Employee Stock Purchase Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense	$ 0.3	$ 0.4	$ 0.8	$ 0.7
Shares reserved for issuance, base (in shares)					973,014
Shares reserved for issuance, annual increase (in shares)					486,507
Shares reserved for issuance, annual increase percentage					0.50%
Shares reserved for issuance (in shares)	2,834,406		2,834,406

Stock Incentive Plans - Stock A

Stock Incentive Plans - Stock Award Activity (Details) shares in Thousands	6 Months Ended
	Aug. 03, 2024 $ / shares shares
Stock Options
Shares
Outstanding (in shares) | shares	1,655
Granted (in shares) | shares	0
Forfeited/canceled (in shares) | shares	0
Exercised/vested (in shares) | shares	(692)
Outstanding (in shares) | shares	963
Weighted- Average Exercise Price
Outstanding (in USD per share) | $ / shares	$ 20.53
Granted (in USD per share) | $ / shares	0
Forfeited/canceled (in USD per share) | $ / shares	0
Exercised/vested (in USD per share) | $ / shares	22.36
Outstanding (in USD per share) | $ / shares	$ 19.23
Restricted Stock
Shares
Outstanding (in shares) | shares	621
Granted (in shares) | shares	0
Forfeited/canceled (in shares) | shares	(17)
Exercised/vested (in shares) | shares	(306)
Outstanding (in shares) | shares	298
Weighted- Average Grant Date Fair Value
Outstanding (in USD per share) | $ / shares	$ 67.35
Granted (in USD per share) | $ / shares	0
Forfeited/canceled (in USD per share) | $ / shares	72.76
Exercised/vested (in USD per share) | $ / shares	61.68
Outstanding (in USD per share) | $ / shares	$ 72.86
Restricted Stock Units
Shares
Outstanding (in shares) | shares	22
Granted (in shares) | shares	377
Forfeited/canceled (in shares) | shares	(8)
Exercised/vested (in shares) | shares	(22)
Outstanding (in shares) | shares	369
Weighted- Average Grant Date Fair Value
Outstanding (in USD per share) | $ / shares	$ 62.13
Granted (in USD per share) | $ / shares	75.32
Forfeited/canceled (in USD per share) | $ / shares	74.64
Exercised/vested (in USD per share) | $ / shares	62.13
Outstanding (in USD per share) | $ / shares	$ 75.34
Performance Stock
Shares
Outstanding (in shares) | shares	677
Granted (in shares) | shares	425
Forfeited/canceled (in shares) | shares	(10)
Exercised/vested (in shares) | shares	(458)
Outstanding (in shares) | shares	634
Weighted- Average Grant Date Fair Value
Outstanding (in USD per share) | $ / shares	$ 58.84
Granted (in USD per share) | $ / shares	76.65
Forfeited/canceled (in USD per share) | $ / shares	71.07
Exercised/vested (in USD per share) | $ / shares	44.31
Outstanding (in USD per share) | $ / shares	$ 69.42
Estimated payout (as a percent)	100%
Performance Stock | Granted in 2021
Weighted- Average Grant Date Fair Value
Actual payout (as a percent)	200%
Performance Stock | Minimum | Granted In 2022 and 2023
Weighted- Average Grant Date Fair Value
Actual payout (as a percent)	100%
Performance Stock | Minimum | Granted in 2024
Weighted- Average Grant Date Fair Value
Actual payout (as a percent)	100%
Performance Stock | Maximum | Granted In 2022 and 2023
Weighted- Average Grant Date Fair Value
Actual payout (as a percent)	200%
Performance Stock | Maximum | Granted in 2024
Weighted- Average Grant Date Fair Value
Actual payout (as a percent)	300%
Performance Stock, Vested at Greater than 100% of Target
Shares
Granted (in shares) | shares	229
Weighted- Average Grant Date Fair Value
Granted (in USD per share) | $ / shares	$ 44.31
Performance target (greater than)	100%

Treasury Shares and Share Rep_2

Treasury Shares and Share Repurchase Program (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Aug. 03, 2024	May 04, 2024	Jul. 29, 2023	Apr. 29, 2023	Aug. 03, 2024	Jul. 29, 2023	Nov. 16, 2021
Equity, Class of Treasury Stock [Line Items]
Shares reacquired to satisfy tax withholding obligations (in shares)	545		3,625		357,996	359,827
Shares reacquired to satisfy tax withholding obligations	$ 0		$ 300		$ 26,700	$ 27,400
Shares repurchased	$ 40,846	$ 56,905	$ 44,902	$ 42,369
2021 Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Share repurchase program, amount authorized							$ 500,000
Shares repurchased (in shares)	451,982		715,122		857,092	919,162
Shares repurchased	$ 40,800		$ 44,600		$ 71,000	$ 59,900
Share repurchase program, amount remaining available	$ 118,700				$ 118,700

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		6 Months Ended		12 Months Ended
	Aug. 03, 2024	Jul. 29, 2023	Aug. 03, 2024	Jul. 29, 2023	Feb. 01, 2025
Income Tax Contingency [Line Items]
Effective tax rate	24.10%	28.60%	24.20%	30.50%
Forecast
Income Tax Contingency [Line Items]
Effective tax rate					28%

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Aug. 03, 2024	Feb. 03, 2024	Jul. 29, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Amount	$ 617,000	$ 719,000	$ 861,000
Fair Value	618,624	720,168	861,311
ABL Revolving Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Amount	217,000	319,000	411,000
Fair Value	217,000	319,000	411,000
First Lien Term Loan
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Amount	400,000	400,000	450,000
Fair Value	$ 401,624	$ 401,168	$ 450,311

Earnings Per Share - Basic and

Earnings Per Share - Basic and Diluted Weighted-Average Shares of Common Stock Outstanding (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Aug. 03, 2024	Jul. 29, 2023	Aug. 03, 2024	Jul. 29, 2023
Earnings Per Share [Abstract]
Weighted-average shares of common stock outstanding, used for basic computation (in shares)	132,431	133,317	132,414	133,314
Plus: Incremental shares of potentially dilutive securities
Plus: Incremental shares of potentially dilutive securities (in shares)	1,418	1,812	1,566	2,201
Weighted-average shares of common stock and dilutive potential shares of common stock outstanding (in shares)	133,849	135,129	133,980	135,515

Earnings Per Share - Anti-Dilut

Earnings Per Share - Anti-Dilutive Restricted Shares and Stock Options (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Aug. 03, 2024	Jul. 29, 2023	Aug. 03, 2024	Jul. 29, 2023
Stock-based awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Antidilutive securities excluded from computation of diluted earnings per share (in shares)	9	315	169	208