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Research

Research Alert: CFRA Keeps Hold Opinion On Shares Of Bj's Wholesale Club Holdings, Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We cut our 12-month target to $92 from $103, based on about 20x our FY 27 (Jan.) EPS estimate of $4.57 (raised from $4.48; FY 28 raised to $4.98 from $4.90). While this multiple remains above the company's long-term average of 19x, it is still well below those of large-format peers. We maintain our Hold rating following a mixed Apr-Q result, as BJ's comparable sales growth continues to lag its largest competitors. We expect limited upside to earnings revisions given ongoing reinvestment in areas such as pricing. We also see incremental near-term headwinds emerging, including higher transportation costs as a result of the recent spike in fuel prices. Longer term, however, we remain more constructive as recently opened clubs continue to mature, with clubs typically reaching maturity within five years of opening (clubs opened within the last five years are growing at over 4x the chain average). BJ's expansion into Texas also appears encouraging, with early indicators for sales and membership trends tracking positively.

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Wire

BJ's Wholesale Seen Regaining Growth Pace by 2027, UBS Says

BJ's Wholesale Club Holdings (BJ) is positioned to return to its long-term growth trajectory by 2027, supported by healthy membership trends and stronger customer engagement, UBS Securities said Sunday in a report.Early results from BJ's expansion into Texas have been stronger than expected, with membership signups running 33% ahead of plan and 100,000 members already enrolled in the state, UBS said. That performance may bolster confidence in BJ's ability to grow in competitive new markets, the report said.UBS also pointed to improving general-merchandise sales, noting that category growth accelerated to 7.1% in fiscal Q1, and highlighted additional opportunities tied to tariff-related supplier recoveries, which it expects BJ's to reinvest in pricing to strengthen customer value.UBS lowered its price target on BJ's stock to $109 from $117 and maintained its buy rating.Price: $84.42, Change: $-2.22, Percent Change: -2.56%

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Wire

UBS Cuts BJ's Wholesale Club Price Target to $109 From $117, Maintains Buy Rating

BJ's Wholesale Club (BJ) has an average rating of overweight and mean price target of $102.63, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $84.93, Change: $-1.71, Percent Change: -1.97%

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Wire

Top Midday Decliners

Futu (FUTU), UP Fintech's (TIGR) Tiger Brokers unit, and Longbridge Securities face planned penalties from China's securities regulator for operating in mainland China without licenses, Bloomberg reported.Shares of Futu sank 27% following an increase in intraday trading volume to over 54.4 million from a daily average of about 1.69 million.Shares of UP Fintech slumped 23% as intraday trading volume advanced to more than 63.8 million from a daily average of about 2.57 million.BJ's Wholesale Club (BJ) reported Friday fiscal Q1 adjusted earnings declined year over year, taking the shine off its revenue beat.Shares were down 8%, with intraday trading volume at more than 4.06 million versus the stock's daily average of about 1.92 million.Price: $90.76, Change: $-33.10, Percent Change: -26.72%

$BJ$FUTU$TIGR
Wire

Top Midday Stories: Futu Receives Investigation Notice, Fine Proposal From Chinese Regulators; Workday Q1 Earnings Top Estimates

All three major US stock indexes were up in late-morning trading Friday, as Wall Street is set to secure a winning week despite high levels of volatility.In company news, Futu Holdings (FUTU) said Friday it has received an investigation notice and a preliminary administrative penalty warning from the Chinese Securities Regulatory Commission regarding its mainland China operations. The agency claims that certain Futu entities have conducted unauthorized securities business, public fund sales business and futures business in mainland China, in violation of several laws, the online brokerage said. Authorities have proposed ordering the cessation of these activities along with a fine of 1.85 billion Chinese Renminbi ($271 million) for Futu and a 1.25 million renminbi personal penalty for Chief Executive Li Hua, Futu said.Workday (WDAY) reported fiscal Q1 non-GAAP net income late Thursday of $2.66 per diluted share, up from $2.23 a year ago and above the FactSet consensus analyst estimate of $2.51. Fiscal Q1 revenue was $2.54 billion, up from $2.24 billion a year ago and above the FactSet consensus of $2.52 billion. For fiscal Q2, the company said it expects subscription revenue of $2.455 billion, compared with the FactSet consensus of $2.45 billion. For fiscal 2027, Workday said it expects subscription revenue of $9.925 billion to $9.950 billion. Analyst expect $9.94 billion.BJ's Wholesale Club (BJ) reported fiscal Q1 adjusted earnings Friday of $1.10 per diluted share, down from $1.14 a year earlier but above the FactSet consensus of $1.03. Fiscal Q1 revenue was $5.66 billion, up from $5.15 billion a year ago and above the FactSet consensus of $5.44 billion. The company said it plans to open new locations in Kentucky, Florida and Indiana.Take-Two Interactive Software (TTWO) reported a fiscal Q4 loss late Thursday of $0.32 per diluted share, narrowing from a loss of $21.08 a year earlier and compared with FactSet consensus estimate of a loss of $0.57. Fiscal Q4 revenue was $1.68 billion, up from $1.58 billion a year ago and above the consensus of $1.55 billion. For fiscal Q1, the company said it expects an EPS loss of $0.23 to $0.15 on revenue of $7.90 billion to $8.10 billion. Analysts expect $2.43 and $9.13 billion, respectively. The company said its highly anticipated game, Grand Theft Auto VI, will be released on Nov. 19.Price: $90.87, Change: $-32.99, Percent Change: -26.63%

$BJ$FUTU$TTWO$WDAY
BJ's Wholesale Club Fiscal First-Quarter Results Top Views; Maintains Full-Year Outlook
US Markets

BJ's Wholesale Club Fiscal First-Quarter Results Top Views; Maintains Full-Year Outlook

BJ's Wholesale Club (BJ) reported better-than-expected fiscal first-quarter results on Friday, while the warehouse club operator reiterated its full-year outlook.The company's adjusted earnings declined to $1.10 a share for the three months through May 2 from $1.14 the year before, but topped the FactSet-polled consensus of $1.03. Overall revenue improved 9.9% to $5.66 billion, ahead of the Street's view for $5.44 billion."Our first-quarter performance reflects disciplined execution and continued investment in the business," Chief Financial Officer Laura Felice said in a statement. "We delivered solid profitability while growing membership fee income and maintaining our focus on cost management."The sharp gains in gas prices driven by the Middle East conflict put "additional pressure on member wallets" during the quarter, Chief Executive Bob Eddy said during an earnings call, according to a FactSet transcript. "While gas margins were pressured early in the quarter as prices rose quickly, our teams executed extremely well through periods of volatility and profit dollars for the quarter came in largely in line with our plan."For fiscal 2026, BJ's continues to project adjusted EPS to be in a range of $4.40 to $4.60. Comparable club sales, excluding the impact of gasoline sales, are still pegged to grow by 2% to 3%. The average analyst estimate is for non-GAAP EPS of $4.51 and same-store sales to increase by 2.5%.Shares of the company fell 6.6% in Friday trade. The stock is down 3.5% so far this year.Earlier in the week, retail giant Walmart (WMT) issued a downbeat fiscal second-quarter earnings outlook, while Target (TGT) lifted its fiscal 2026 sales growth guidance. Off-price retailer TJX (TJX) raised its full-year outlook after posting stronger-than-expected fiscal first-quarter results.BJ's Wholesale Club's comparable club sales, excluding gasoline, increased 1.5% for the first quarter, but fell short of the market's forecast for a rise of 1.6%. General merchandise and services comparable sales climbed 7.1%, "driven primarily by strength and consumer electronics," Felice said on the call. Membership fee income grew about 10% to $132 million, the CFO added."While we expect membership fee income growth to moderate as we move through the year, the underlying health of the membership base remains very strong," Felice said.BofA Securities said earlier in the week that BJ's stands to benefit from the current inflationary environment, though it must demonstrate a sustained acceleration in comparable sales to trigger a stock breakout.Price: $86.27, Change: $-8.16, Percent Change: -8.64%

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Wire

Update: BJ's Wholesale Shares Fall as Fiscal Q1 Adjusted Earnings Decline

(Updates with stock move in headline and first paragraph.)BJ's Wholesale Club shares fell more than 6% in Friday morning trading after fiscal Q1 adjusted earnings declined year over year, even as revenue rose and results beat analysts' estimates.The company reported fiscal Q1 adjusted earnings earlier Friday of $1.10 per diluted share, down from $1.14 a year earlier. Analysts polled by FactSet expected $1.03.Revenue for the quarter ended May 2 was $5.66 billion, up from $5.15 billion a year earlier. Analysts surveyed by FactSet expected $5.44 billion.For fiscal 2026, the company continues to expect adjusted EPS of $4.40 to $4.60. Analysts polled by FactSet expect $4.51.Price: $87.44, Change: $-7.00, Percent Change: -7.41%

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Research

Research Alert: Bj: Mixed Quarter From Slower Comp Sales Growth And More Reinvestments

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:BJ delivered mixed Apr.-Q results, with adjusted EPS of $1.10 (-3% Y/Y) beating consensus by $0.07, but comparable sales (ex-fuel) growing just 1.5%, the slowest pace in roughly two years. Revenue of $5.66B (+10%) beat by $232M, though mainly due to higher gas prices rather than core business strength, as retail gas prices climbed nearly 50% during the quarter. Membership metrics remain robust, with fee income rising 9.9% to $132.4M, led by strong member acquisition, retention, and higher-tier penetration across clubs. BJ maintained FY 27 (Jan.) guidance of 2.0%-3.0% comp sales growth and $4.40-$4.60 adjusted EPS (vs. consensus of $4.52). We think elevated gas prices and egg deflation weighed on in-store sales this quarter. Operating margin fell 30 bps to 3.7% as expected reinvestments in pricing and accelerated new club openings create near-term headwinds. The company balanced growth investments with $206.6M in share repurchases while planning ~$800M capex for new clubs and distribution network enhancements.

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Wire

BJ's Wholesale Club to Open New Locations in Kentucky, Florida, Indiana

BJ's Wholesale Club (BJ) plans to open new locations in Kentucky, Florida and Indiana, the company said Friday.The expansion will increase BJ's Florida footprint to 46 clubs and also expand its presence in the Kentucky and Indiana markets, the company said.BJ's Wholesale Club said it plans to open 12 new clubs in fiscal 2026, including four locations in the Dallas-Fort Worth area in Texas.The retailer is targeting 25 to 30 new clubs every two years as part of its growth strategy, it said.Price: $87.41, Change: $-7.09, Percent Change: -7.50%

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Sectors

Sector Update: Consumer Stocks Rise Pre-Bell Friday

Consumer stocks were rising pre-bell Friday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) 0.2% higher and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) up 0.4%.Estee Lauder (EL) shares were up more than 12% after the company and Puig said they have ended discussions over a potential merger.BJ's Wholesale Club (BJ) stock was down more than 4% after the company reported a decline in fiscal Q1 adjusted earnings.Yum China Holdings (YUMC) said its KFC light-meal business KPRO, now operates more than 300 sites in China. Shares of Yum China Holdings were down more than 1% premarket.

$BJ$EL$XLP$XLY$YUMC
Asia Markets

Easing Bond Yields Lift US Equity Futures Pre-Bell Amid Ongoing Middle East Peace Talks

US equity futures were higher pre-bell Friday as traders mulled easing bond yields and monitored developments in the Middle East peace negotiations.Dow Jones Industrial Average futures were 0.6% higher, S&P 500 futures were up 0.4%, and Nasdaq futures were 0.4% higher.Treasury yields declined after a spike earlier in the week. The yield on the 10-year US Treasury note fell more than 2 basis points to 4.56%.Iranian Foreign Minister Abbas Araghchi met with Pakistani Interior Minister Syed Mohsin Naqvi in Tehran to discuss proposals aimed at ending the US-Iran conflict, according to Iranian media reports. US and Iran are still in disagreement over the issue of uranium enrichment and control over the Strait of Hormuz.Traders noted the latest round of earnings, with BJ's Wholesale Club (BJ) posting lower fiscal Q1 adjusted earnings on higher revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1% at $103.58 per barrel and US West Texas Intermediate crude 0.3% higher at $96.64 per barrel.The final University of Michigan consumer sentiment report for May, scheduled at 10 am ET, is expected to show consumer sentiment index coming in at 48.2, unchanged from the preliminary reading, according to estimates compiled by Bloomberg.Federal Reserve Governor Christopher Waller is slated to speak on Friday.In other world markets, Japan's Nikkei closed 2.7% higher, Hong Kong's Hang Seng ended 0.9% higher, and China's Shanghai Composite finished 0.9% higher. Meanwhile, the UK's FTSE 100 was up 0.3%, and Germany's DAX index was 1.1% higher in Europe's early afternoon session.In equities, Workday (WDAY) shares rose 6.3% after the company's fiscal Q1 results surpassed market expectations. Dell Technologies (DELL) stock was up 4.4% after Wells Fargo raised its price target to $270 from $180. Nokia (NOK) shares were up 3.2% after the company said it launched an AI networking innovation lab in California.On the losing side, UBS (UBS) stock was down 0.9% after the company said it expects the voluntary review of historic World War II operations at Credit Suisse to conclude by the end of the year. NetEase (NTES) shares fell 2.6% after the company posted lower Q1 non-GAAP earnings. Copart (CPRT) stock was down 2.5% despite posting higher fiscal Q3 earnings and revenue.

Dow JonesNasdaq CompositeS&P 500$BJ$CPRT$DELL$NOK$NTES$UBS$WDAY
Japan

Easing Bond Yields Nudge US Equity Futures Higher Pre-Bell Amid Ongoing Middle East Peace Talks

US equity futures were marginally higher pre-bell Friday as traders observed bond yields easing and continued to monitor developments in the Middle East peace negotiations.Dow Jones Industrial Average futures were 0.3% higher, S&P 500 futures were up 0.1%, and Nasdaq futures were 0.1% higher.Treasury yields declined after a spike earlier in the week. The yield on the 10-year US Treasury note fell more than 2 basis points to 4.56%.Iranian Foreign Minister Abbas Araqchi met with Pakistani Interior Minister Syed Mohsin Naqvi in Tehran to discuss proposals aimed at ending the US-Iran conflict, according to Iranian media reports. US and Iran are still in disagreement over the issue of uranium enrichment and control over the Strait of Hormuz.Traders noted the latest round of earnings, with BJ's Wholesale Club (BJ) posting lower fiscal Q1 adjusted earnings on higher revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.9% at $104.53 per barrel and US West Texas Intermediate crude 1.3% higher at $97.53 per barrel.The final University of Michigan consumer sentiment report for May, scheduled at 10 am ET, is expected to show consumer sentiment index coming in at 48.2, unchanged from the preliminary reading, according to estimates compiled by Bloomberg.Federal Reserve Governor Christopher Waller is slated to speak on Friday.

Dow JonesNasdaq CompositeS&P 500$BJ
Stocks Rise Pre-Bell as Investors Monitor US-Iran Negotiations
US Markets

Stocks Rise Pre-Bell as Investors Monitor US-Iran Negotiations

The benchmark US stock measures were tracking in the green before the open Friday as investors continue to monitor negotiations between the US and Iran to end the Middle East conflict.The S&P 500 edged up 0.1%, the Dow Jones Industrial Average added 0.2% and the Nasdaq was slightly up in premarket activity. The indexes finished the previous trading session higher, with the Dow reaching an all-time peak.US Secretary of State Marco Rubio reportedly said Thursday that there were "good signs" that a peace deal between the two countries is in sight, but warned that any agreement would be "unfeasible" if Iran insists on controlling shipping through the crucial Strait of Hormuz. Iran is discussing setting up a permanent toll system with Oman to formalize its control of the strait, Bloomberg News reported."No one in the world is in favor of a tolling system," Rubio told reporters, according to CNBC. "It can't happen [and] it would be unacceptable."The semi-official Iranian Students' News Agency reportedly said that the latest US proposal to Iran has "narrowed the gaps to some extent" between the two sides, although "further reductions require an end to the temptation for war from Washington."West Texas Intermediate crude oil rose 1.9% to $98.19 a barrel before the open, while Brent increased 2.5% to $105.18."The oil market remains overly sensitive to Iran-related headlines, with participants continuing to pin considerable hope on reports that talks between the US and Iran are progressing," ING Bank said in a report on Thursday.Treasury yields were down in premarket action, with the two-year rate retreating 0.7 basis points to 4.08% and the 10-year rate off 2.4 basis points to 4.56%.Shares of IBM (IBM), GlobalFoundries (GFS) and D-Wave Quantum (QBTS) were up pre-bell after being selected for US government funding under the Trump administration's plan to strengthen the country's position in quantum computing.Ross Stores (ROST) rose 5.3% after the discount retailer lifted its full-year outlook and reported better-than-expected fiscal first-quarter results. Take-Two Interactive Software (TTWO) gained 5.8% as the video game publisher reported a smaller-than-expected fiscal fourth-quarter loss and said it was on track to launch the highly anticipated "Grand Theft Auto VI" on Nov. 19.BJ's Wholesale Club (BJ) and Booz Allen Hamilton (BAH) report their latest financial results before the bell.Friday's economic calendar has the final University of Michigan consumer sentiment report for May at 10 am ET, while the weekly Baker Hughes oil-and-gas rig count posts at 1 pm. Federal Reserve Governor Christopher Waller is scheduled to speak at 10 am.Richmond Fed President Tom Barkin said Thursday that lifting interest rates may not be an appropriate response to curb price pressures."Raising rates to weaken demand doesn't address the root cause behind supply shock-driven inflation. It doesn't free up trade routes, reopen factories or melt ice," he said in prepared remarks for an event in North Carolina. "That said, I've been asking myself whether we've entered an era where supply shocks will become more frequent."Gold decreased 0.7% to $4,513 per troy ounce, while bitcoin slipped 0.4% to $77,221.

Dow JonesNasdaq CompositeS&P 500$BAH$BJ$GFS$IBM$QBTS$ROST$TTWO
BJ's Wholesale Club's Stock Breakout Linked to Sustained Comparable Sales Growth, BofA Says
US Markets

BJ's Wholesale Club's Stock Breakout Linked to Sustained Comparable Sales Growth, BofA Says

BJ's Wholesale Club (BJ) stands to benefit from the current inflationary environment, though the warehouse club operator must demonstrate a sustained acceleration in comparable sales to trigger a stock breakout, BofA Securities said in a Wednesday note.Gasoline prices in the US have surged as supply disruptions caused by the Middle East conflict pushed crude oil costs higher. Consumers don't see an immediate relief as the Strait of Hormuz, the most important chokepoint for energy flows, remains largely shut due to the US-Israel war with Iran.The warehouse club model could benefit from the oil price shock as consumers prioritize value, BofA analysts Christopher Nardone and Madeline Cech wrote. "That said, for (BJ's) to (break out), we think the market needs to see evidence of comp consistency and improvement," the duo wrote.In addition to in-store discounts on bulk purchases, BJ's offers lower gas prices to members at its gas stations.In March, BJ's projected fiscal 2026 comparable club sales, excluding gasoline, to grow 2% to 3% over the previous year. The metric rose 2.6% in fiscal 2025."Higher for longer gas prices could drive potential upside to our (fiscal 2026) comp ex gas forecast of 2.5%, but the lack of visibility on the longevity of the (Iran) war makes it harder to underwrite the benefits from higher gas prices," according to the BofA note.BofA reinstated coverage on the stock with a neutral rating and a $110 price target."On a (less than) 3% comp ex gas, given the company's supply chain investments and store growth, upward estimates revisions are unlikely," Nardone and Cech said.BJ's is scheduled to release its fiscal first-quarter results on Friday.Price: $96.69, Change: $-0.97, Percent Change: -0.99%

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Wire

BJ's Wholesale Club Needs Sales Consistency, Improvement for Bullish Outlook, BofA Says

BJ's Wholesale Club (BJ) needs to show proof of growth consistency and improvement in comparable sales for a positive recommendation to buy its stock, BofA Securities said in a Wednesday note reinstating coverage of the company.The company's warehouse club model of offering gas and bulk product discounts can potentially perform well if oil prices remain elevated for longer, BofA analysts said. High oil prices could potentially provide upside to their projection of comparable sales growth excluding gas of 2.5%, but the uncertainty of the length of the conflict in the Middle East makes itdifficult to quantify the benefits, the analysts said.In an expansion push, BJ's has expanded outside its stronghold in the Northeast US into other states, including Tennessee and Texas, among others. The company needs to demonstrate that it can accelerate its comparable sales in the new markets to reduce its valuation gap versus competitor Costco (COST), according to the note.BofA reinstated coverage of the company's stock with a rating of neutral and a price target of $110.Price: $95.94, Change: $-1.72, Percent Change: -1.76%

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Wire

Market Chatter: Oaktree Sues BJ's Over Alleged Tariff Refund Deal Backout

Oaktree Capital Management has sued BJ's Wholesale Club Holdings (BJ), alleging the company backed out of a deal to sell its rights to about $29 million in tariff refunds, Bloomberg reported on Tuesday.Oaktree alleged BJ's agreed to sell the claims for roughly $20 million, but later walked away as the value of tariff refund claims rose. The firm described the move as "unlawful and bad-faith seller's remorse."The dispute comes as refund claims have surged in value following a U.S. Supreme Court ruling that struck down several of President Donald Trump's former tariffs.Oaktree said the agreement had been fully negotiated, with only final execution remaining, before BJ's invoked a Walk Away provision, the report said.Oaktree and BJ's did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $91.65, Change: $-1.24, Percent Change: -1.33%

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Insider Trading

BJ's Wholesale Club Holdings Insider Sold Shares Worth $728,130, According to a Recent SEC Filing

Robert W. Eddy, Director, President & CEO, on April 15, 2026, sold 8,000 shares in BJ's Wholesale Club Holdings (BJ) for $728,130. Following the Form 4 filing with the SEC, Eddy has control over a total of 308,330 common shares of the company, with 306,330 shares held directly and 2,000 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1531152/000151071226000005/xslF345X05/wk-form4_1776457636.xml

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Insider Trading

BJ's Wholesale Club Holdings Insider Sold Shares Worth $1,365,175, According to a Recent SEC Filing

Timothy Pierce Morningstar, Executive Vice President, Chief Growth Officer, on April 10, 2026, sold 14,872 shares in BJ's Wholesale Club Holdings (BJ) for $1,365,175. Following the Form 4 filing with the SEC, Morningstar has control over a total of 38,780 common shares of the company, with 38,780 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1531152/000153115226000019/xslF345X05/wk-form4_1776198151.xml

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