BJ’s to raise membership fees for the first time in seven years
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BJ's Wholesale Club at 777 Washington St. in Auburn
BJ’s Wholesale Club shoppers can soon expect to see an increase in their yearly billing statements as the Marlborough-based retailer plans on raising membership fees in the new year.
Come Jan. 1, BJ’s will increase its yearly club membership fee by $5 to $60 and raise its Club+ membership fee by $10 to $120 a year, marking the retailer’s first membership fee increase in seven years, according to a Thursday press release reporting its third quarter fiscal 2024 results.
BJ’s did not immediately respond to WBJ’s request for comment on the fee increases.
In the third quarter, BJ’s generated $115 million from membership fees, an $8.9-million increase from the third quarter of fiscal 2023 when the retailer’s membership fees income was $106.1 million. BJ attributes the over-the-year growth to bolstered lower- and higher-tier membership acquisition and membership retention, according to the release.
Overall, BJ’s accrued $975.5 million in gross profit in the third quarter of fiscal 2024, a $73-million increase from the same quarter last year. BJ’s net income for 2024’s third quarter was $155.7 million, reflecting a $25.2-million increase from 2023’s third quarter.
BJ’s announcement follows the Nov. 12 appointment of Scott Schmadeke to the role of executive vice president, chief operations officer and the naming of Krystyna Kostka as chief supply chain officer. Both are filling roles previously held by BJ’s Executive Vice President, Chief Operations Officer Jeff Desroches, who resigned from his positions on Nov. 5, according to a Nov. 12 filing with the U.S. Securities and Exchange Commission.
Founded in 1984, BJ’s operates seven clubs and one fuel station in Central Massachusetts throughout Auburn, Northborough, Hudson, Leominster, Uxbridge, Framingham, and Franklin.
Mica Kanner-Mascolo is a staff writer at Worcester Business Journal, who primarily covers the healthcare and diversity, equity, and inclusion industries.
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