The company is feeling confident about 2023 on the heels of strong fourth-quarter earnings and sales.
The membership warehouse club retailer also gave an update on its 2023 expansion plans, which include entering two new states: Alabama and Tennessee. BJ’s will open a location in LaVergne, Tennessee this summer, which will mark its 19th state of operation. A second Tennessee location is planned for Mt. Juliet. BJ’s will enter its 20th state later in the year, when it opens in Madison, Alabama.
“2022 was a record year, having surpassed $1bn in adjusted EBITDA for the first time in the company’s history,” said Bob Eddy, President and CEO, BJ’s Wholesale Club. Our continued focus on value has driven traffic and market share gains all year. Our digital business is growing and we’re successfully expanding our footprint.”
BJ’s opened five new locations since the end of its third quarter. The retailer has announced several upcoming locations, including its first-ever club in the state of Tennessee. It is also launching a new credit card program with Capital One and Mastercard.
