BJ's sells groceries and gasoline to fee-paying members and keeps only a few cents of each sales dollar after running its clubs. Its latest quarter was strong, but gasoline and fees did more of the lifting than everyday shopping.
You may know the routine: show a card at the door, then load a cart with bulk groceries or fill up at the store's own pumps. BJ's Wholesale Club runs warehouse clubs built on that routine. Households and small businesses pay a yearly fee to belong. In return they can buy groceries, household goods and gasoline below traditional supermarket prices. About 9 million members now pay it.
Members pay twice: once to belong, then at every visit. Goods and fuel bring in almost all the money, but BJ's sells them at thin margins. In , the year ended January 31, 2026, revenue was $21.5 billion, and membership fees were only $500 million of it. Yet those fees do much of the work of turning a low-price store into a profitable one. Speed helps too. Much of the stock sells before suppliers must be paid, so supplier credit, rather than BJ's own money, funds most of the shelves. After paying for the goods and running the clubs, about $3.80 remained from every $100 of revenue in fiscal 2025.
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