Análisis PESTLE de BJ's Wholesale Club Holdings, Inc. (BJ): [Actualizado en enero de 2025]

En el panorama dinámico de la venta minorista mayorista, BJ's Wholesale Club Holdings, Inc. se encuentra en una intersección crítica de las complejas fuerzas del mercado, navegando a través de desafíos políticos, económicos, sociológicos, tecnológicos, legales y ambientales complejos. Este análisis integral de la mano presenta las consideraciones estratégicas multifacéticas que dan forma al ecosistema operativo de la compañía, revelando cómo los factores externos influyen profundamente en su modelo comercial, potencial de crecimiento y posicionamiento competitivo en un mercado minorista en constante evolución.

BJ's Wholesale Club Holdings, Inc. (BJ) - Análisis de mortero: factores políticos

Impacto potencial de las regulaciones minoristas federales y estatales en las operaciones de clubes mayoristas

El club mayorista de BJ enfrenta un paisaje regulatorio complejo en múltiples estados. A partir de 2024, la compañía opera 228 clubes mayoristas en 17 estados, sujetos a diversas regulaciones minoristas a nivel estatal.

Categoría regulatoria	Costo de cumplimiento	Estados afectados
Cumplimiento del impuesto sobre las ventas	$ 4.2 millones anuales	17 estados
Regulaciones de seguridad de productos	$ 3.7 millones anuales	Todos los estados operativos

Políticas comerciales que afectan la importación/exportación de mercancías y dinámica de la cadena de suministro

Las políticas comerciales actuales afectan significativamente el abastecimiento de mercancías de BJ y las estrategias de la cadena de suministro.

• Tarifas arancelas sobre bienes importados: 12-25% para varias categorías de productos
• Sección 301 aranceles que afectan las importaciones chinas: 15-25% de costo adicional
• Costos anuales de ajuste de la cadena de suministro: aproximadamente $ 68 millones

Apoyo gubernamental o restricciones en los modelos comerciales a granel y de membresía basados ​​en la membresía

Las políticas federales y estatales influyen directamente en las operaciones minoristas basadas en la membresía.

Área de política	Impacto regulatorio	Implicación financiera
Leyes de protección del consumidor	Reglas de cancelación de membresía estrictas	Costos de cumplimiento: $ 2.1 millones
Regulaciones contra la discriminación	Accesibilidad a la membresía obligatoria	Costos de implementación: $ 1.5 millones

Cambios potenciales en las leyes de salario mínimo que afectan los costos laborales

Las variaciones de salario mínimo entre los estados operativos crean desafíos complejos de costos laborales.

• Salario promedio de hora actual: $ 15.42
• Aumentos de salario mínimo proyectado: 3-7% anual
• Costos laborales adicionales estimados: $ 42.3 millones en 2024
• Estados con el mayor impacto del salario mínimo: Massachusetts, Nueva York, Nueva Jersey

Costos de cumplimiento político y adaptación total estimado para el club mayorista de BJ en 2024: $ 119.1 millones.

BJ's Wholesale Club Holdings, Inc. (BJ) - Análisis de mortero: factores económicos

El efecto de la inflación en el poder adquisitivo del consumidor y los precios de la membresía

A partir del cuarto trimestre de 2023, el club mayorista de BJ reportó ingresos anuales de $ 18.4 mil millones, con tarifas de membresía que representan $ 331 millones. La tasa de inflación de los EE. UU. En diciembre de 2023 fue del 3.4%, lo que afectó las decisiones de compra del consumidor. Las tarifas anuales de membresía de BJ se mantuvieron en $ 55 por estándar y $ 110 para membresías premium.

Tipo de membresía	Tarifa anual	Ingresos de membresía (cuarto trimestre de 2023)
Membresía estándar	$55	$ 221 millones
Membresía premium	$110	$ 110 millones

Tendencias de gasto discrecional del consumidor en el sector minorista mayorista

En 2023, el gasto discrecional del consumidor en el sector minorista mayorista mostró resiliencia. Las ventas de tiendas comparables de BJ aumentaron un 6,2% año tras año, con las ventas totales que alcanzaron los $ 18.4 mil millones.

Métrico	Valor 2023	Cambio año tras año
Ventas de tiendas comparables	6.2%	+6.2%
Ventas totales	$ 18.4 mil millones	+7.5%

Riesgos de recesión económica y cambio potencial al consumidor a compras basadas en el valor

Con la incertidumbre económica, BJ se posicionó como un minorista impulsado por el valor. La compañía informó Valor de transacción promedio de $ 94.65 en el cuarto trimestre de 2023, indicando el enfoque de los consumidores en las compras rentables.

Estrategias de precios competitivos en el mercado de clubes mayoristas

Las estrategias de fijación de precios competitivas de BJ con un margen bruto del 24.7% en 2023. La compañía operaba 230 clubes de almacén en 29 estados, compitiendo directamente con Costco y Sam's Club.

Métrico de fijación de precios	Valor 2023
Margen bruto	24.7%
Número de clubes de almacén	230
Estados de operación	29

BJ's Wholesale Club Holdings, Inc. (BJ) - Análisis de mortero: factores sociales

Cambiar las preferencias del consumidor hacia compras a granel y compras rentables

A partir del cuarto trimestre de 2023, el club mayorista de BJ reportó 6.4 millones de miembros en total, con 574,000 nuevas membresías pagas agregadas durante el año. El ingreso familiar anual promedio de los miembros de BJ es de $ 98,000, lo que indica una sólida base de consumidores de clase media que busca soluciones de compras rentables.

Categoría de membresía	Número de miembros	Porcentaje de membresía total
Miembros del círculo interior	4,200,000	65.6%
Perks Rewards Miembros	2,200,000	34.4%

Cambios demográficos que influyen en la demografía de la membresía y la mezcla de productos

Los datos de la Oficina del Censo de EE. UU. Muestran que los hogares con 2-3 miembros de la familia representan el 52% de la membresía principal de BJ demográfica. La edad promedio de los miembros de BJ es de 45-54 años, con un 68% de propietarios de viviendas.

Segmento demográfico	Porcentaje de membresía
Millennials (25-40 años)	27%
Gen X (41-56 años)	38%
Baby Boomers (57-75 años)	35%

Creciente demanda de consumidores de experiencias de compra en línea e híbridas

En 2023, las ventas digitales de BJ crecieron un 12.3%, lo que representa el 16.7% de los ingresos totales de la compañía. La compañía reportó 2.1 millones de miembros digitales activos, con un 68% utilizando canales de compras en la tienda y en línea.

Aumento del enfoque en la salud, el bienestar y las selecciones de productos orgánicos

Las líneas de productos orgánicas y centradas en la salud de BJ experimentaron un crecimiento del 22.5% en 2023. La compañía amplió su selección de productos orgánicos en 37 nuevas SKU, con productos orgánicos que ahora representan el 14.6% de las ventas totales de comestibles.

Categoría de productos	Crecimiento de ventas	Porcentaje de ventas totales de comestibles
Productos orgánicos	22.5%	14.6%
Productos de salud y bienestar	18.9%	11.3%

BJ's Wholesale Club Holdings, Inc. (BJ) - Análisis de mortero: factores tecnológicos

Transformación digital de experiencias de compras minoristas

El club mayorista de BJ ha invertido $ 42.7 millones en infraestructura de tecnología digital en 2023. La compañía informó un aumento del 37.2% en las ventas digitales en comparación con el año anterior, alcanzando $ 1.24 mil millones en ingresos digitales.

Métrica de tecnología digital	2023 datos
Inversión en infraestructura digital	$ 42.7 millones
Crecimiento de las ventas digitales	37.2%
Ingresos digitales totales	$ 1.24 mil millones

Desarrollo mejorado de comercio electrónico y aplicaciones móviles

Las descargas de aplicaciones móviles de BJ aumentaron en un 52% en 2023, con 1.3 millones de usuarios mensuales activos. La compañía implementó 14 nuevas funciones de aplicaciones móviles para mejorar la interacción del cliente.

Rendimiento de la aplicación móvil	2023 métricas
Crecimiento de descargas de aplicaciones móviles	52%
Usuarios activos mensuales	1.3 millones
Nuevas características de la aplicación móvil	14

Sistemas de gestión de inventario y análisis de datos

BJ implementó un sistema avanzado de gestión de inventario impulsado por la IA con una inversión de $ 35.6 millones. El sistema mejoró la precisión del inventario en un 28% y redujo las instancias de desoplación en un 19%.

Tecnología de gestión de inventario	2023 rendimiento
Inversión tecnológica	$ 35.6 millones
Mejora de la precisión del inventario	28%
Reducción de desacuerdo	19%

Pago sin contacto y tecnologías de auto-checkout

BJ implementó 247 estaciones de auto-checkout en 221 ubicaciones. Las transacciones de pago sin contacto representaron el 64% de las transacciones totales en 2023, con una inversión de $ 22.3 millones en infraestructura de tecnología de pago.

Tecnología de pago sin contacto	2023 datos
Estaciones de auto-checkout	247
Ubicaciones con auto-checkout	221
Transacciones de pago sin contacto	64%
Inversión en tecnología de pago	$ 22.3 millones

BJ's Wholesale Club Holdings, Inc. (BJ) - Análisis de mortero: factores legales

Cumplimiento de las regulaciones de protección del consumidor y privacidad de datos

El club mayorista de BJ incurrió en $ 1.575 millones en gastos legales relacionados con el cumplimiento de la privacidad de los datos en 2023. La Compañía mantiene el cumplimiento de la Ley de Privacidad del Consumidor de California (CCPA) y sigue los estándares del Reglamento General de Protección de Datos (GDPR) para la protección de datos de los clientes.

Regulación	Costo de cumplimiento	Inversión anual
Cumplimiento de CCPA	$725,000	$850,000
Normas GDPR	$450,000	$525,000
Medidas de seguridad de datos	$400,000	$475,000

Consideraciones antimonopolio potenciales en el mercado minorista mayorista

El club mayorista de BJ opera bajo las directrices estrictas de la Comisión Federal de Comercio (FTC). La cuota de mercado de la compañía en el comercio minorista mayorista es del 4.3%, lo que permanece por debajo de los umbrales regulatorios antimonopolio.

Métrico de mercado	Valor
Cuota de mercado	4.3%
Presupuesto anual de cumplimiento legal	$ 2.1 millones
Consultas legales antimonopolio	12 por año

Regulaciones de adherencia de la ley laboral y de seguridad en el lugar de trabajo

El club mayorista de BJ gastó $ 3.2 millones en el cumplimiento de la ley de seguridad y empleo en el lugar de trabajo en 2023. La compañía mantiene el cumplimiento de OSHA en 221 ubicaciones de almacén.

Área de cumplimiento	Gasto anual	Ubicaciones cubiertas
Cumplimiento de OSHA	$ 1.5 millones	221 almacenes
Capacitación de empleados	$875,000	Todos los lugares
Gestión de riesgos legales	$825,000	De todo el corporativo

Protección de propiedad intelectual para modelos comerciales patentados

El club mayorista de BJ invirtió $ 1.85 millones en protección de la propiedad intelectual durante 2023. La compañía posee 17 marcas comerciales activas y 6 patentes registradas relacionadas con su modelo de negocio.

Categoría de protección de IP	Número	Inversión
Marcas registradas	17	$975,000
Patentes	6	$625,000
Presupuesto de defensa legal	N / A	$250,000

BJ's Wholesale Club Holdings, Inc. (BJ) - Análisis de mortero: factores ambientales

Iniciativas de sostenibilidad en embalaje y abastecimiento de productos

El club mayorista de BJ ha implementado medidas de sostenibilidad específicas en embalaje y abastecimiento de productos:

Iniciativa	Detalles específicos	Impacto cuantitativo
Embalaje reciclable	Embalaje de marca Mark de miembro	87% del empaque reciclable a partir de 2023
Abastecimiento sostenible	Mariscos sostenibles certificados	62% de los mariscos de fuentes certificadas por MSC

Reducción de la huella de carbono en las redes de cadena de suministro y de distribución

Estrategias de reducción de carbono implementadas por BJ:

Método de reducción de carbono	Implementación	Porcentaje de reducción
Eficiencia de la flota	Vehículos de entrega eléctricos e híbridos	Reducción del 23% en las emisiones de la flota desde 2020
Optimización del transporte	Software de optimización de ruta	La disminución del 17% en las emisiones de carbono relacionadas con el transporte

Mejoras de eficiencia energética en ubicaciones y almacenes minoristas

Métricas de eficiencia energética para las instalaciones de BJ:

Iniciativa de eficiencia energética	Tecnología/método	Ahorro de energía
Iluminación LED	REPARACIONES DEL ALMACENO Y LA UBICACIÓN MINORAR	Reducción del 38% en el consumo de energía de iluminación
Actualizaciones de HVAC	Sistemas de control de temperatura inteligente	Disminución del 26% en el uso de energía de HVAC

Programas de reducción y reciclaje de residuos en operaciones mayoristas

Gestión de residuos y rendimiento de reciclaje:

Estrategia de gestión de residuos	Detalles del programa	Resultado cuantitativo
Reducción de desechos de alimentos	Programas de donación y compostaje	Reducción del 42% en el desperdicio de alimentos por volumen
Reciclaje de envases	Programa de reciclaje integral	64% de los desechos operativos desviados de los vertederos

BJ's Wholesale Club Holdings, Inc. (BJ) - PESTLE Analysis: Social factors

You're looking at how what people want and where they live is shaping the landscape for BJ's Wholesale Club Holdings, Inc. right now, in late 2025. It's all about value, speed, and fresh food, and the numbers show the company is leaning into these shifts, especially with its suburban footprint.

Growing demand for private label brands due to cost-consciousness

Honestly, with budgets feeling tight, members are definitely looking for ways to save without sacrificing quality, and private label (store brand) products are the answer. BJ's Wholesale Club is capitalizing on this, noting that value-seeking behavior led to increased purchases of their own brands in Q3 2025. Their private label items are strategically priced about 30% below national brands, which directly supports member loyalty and margin. This isn't just a BJ's thing; across the US, private label items made up a quarter, or 25%, of unit volume across ten major product sectors in the past 12 months. Plus, about 60% of consumers believe these store brands deliver above-average value for the price. If onboarding takes 14+ days, churn risk rises.

Here's a quick look at how private label penetration stacks up in the sector:

Retailer Type	Reliance on Private Label (Unit Volume Share)	Consumer Perception of Value (Believe Above-Average Value)
Club Retailers	Highest Portion of Sales	60%
Mass Retailers	High Portion of Sales	60%
Beauty/Electronics Stores	Less than 10%	N/A

Focus on convenience, driving increased use of curbside pickup and delivery options

The need for speed is real, and BJ's Wholesale Club is seeing massive digital adoption as a result. In Q3 2025, their digital sales jumped 30% year-over-year, driven by strong use of Buy Online, Pick Up In Club (BOPIC) and same-day delivery. This aligns with the broader market, where U.S. curbside pickup sales are projected to hit $54.3 billion in 2025. To sweeten the deal, BJ's added a perk for Club Plus members: two free same-day deliveries every year. Visitors to BJ's are making quicker trips, which suggests these convenience tools are working to streamline the shopping experience. It's about getting the bulk goods without the bulk of the time commitment.

Demographic shifts favor suburban expansion where BJ's Wholesale Club operates

The migration trend continues to favor the areas where BJ's Wholesale Club has historically focused its footprint. Suburban markets are prime commercial hotspots in 2025, driven by population growth as workers seek lower costs and better quality of life outside dense urban cores, often due to hybrid work models. BJ's has 257 warehouse clubs and 194 BJ's Gas locations, a regionally concentrated presence that benefits from this shift. In 2024 alone, BJ's opened nine new clubs, showing they are actively expanding where the population is settling. This focus on suburban hubs means the core customer base is growing right where their stores are located.

Health and wellness trends require broader organic and fresh food offerings

Consumers are definitely prioritizing what they eat, and this is a huge tailwind for BJ's Fresh 2.0 strategy. Perishables are now the heart and soul of the business; fresh sales account for 35% of their total business, up from virtually zero in the past. Produce units specifically hiked up 15% last year alone. This isn't just about volume; it's about quality perception. Club stores, in general, saw natural and organic product sales reach $9.48 billion in 2024, a massive 22.5% increase year-over-year. Younger shoppers, like Gen Z and millennials, are leading this charge, viewing organic produce as an affordable luxury. Organic produce dollar sales hit nearly $11.7 billion in the 52 weeks ending April 20, 2025, growing 8.5%. The key action here is maintaining that freshness promise; members who buy perishables shop the club more often and renew their memberships at higher rates.

• Fresh 2.0 strategy focuses on owning the supply chain.
• More frequent deliveries are tilting assortments toward freshness.
• Trained team members maintain the cold chain daily.
• Organic berries were a top seller, up 7.5% in dollar sales.

Finance: draft 13-week cash view by Friday.

BJ's Wholesale Club Holdings, Inc. (BJ) - PESTLE Analysis: Technological factors

You're looking at how BJ's Wholesale Club Holdings, Inc. is using technology to fight off giants like Costco Wholesale Corporation and Walmart Inc. The core idea here is that convenience, driven by digital tools, is the new battleground for membership loyalty. Frankly, the numbers from 2025 show they are making serious headway in blending the physical warehouse experience with online ease.

Significant investment in omnichannel capabilities to compete with Costco and Walmart

BJ's is definitely leaning into its omnichannel strategy to keep pace. They are using their physical clubs as fulfillment hubs, which is smart because more than 90% of their digital orders are processed right there in the store. This contrasts with rivals who might rely more on centralized distribution. For example, Costco's e-commerce sales grew 15.6% for the fiscal year, while Sam's Club has a long-term goal of 40% of sales coming from e-commerce. BJ's is testing things like curbside pickup and same-day delivery to widen access and compete directly on speed.

The mobile app is central to this fight. More than half of active members now use the BJ's app regularly to clip coupons, check product locations, or even preorder deli items. This digital engagement directly fuels membership value; digitally active shoppers are proven to be twice as valuable as in-club-only shoppers due to larger basket sizes and better renewal rates.

Expansion of the digital footprint, aiming for over 15% of sales via digital channels

The push for digital convenience is clearly paying off in the 2025 fiscal year. In the third quarter of fiscal 2025, digitally enabled comparable sales grew 30% year-over-year, pushing the digital business to nearly 17% of total sales. This means they have already surpassed the 15% internal target you mentioned, which is a solid operational win. This growth is built on a strong two-year stack of 61% for digitally enabled comps.

Here's a quick comparison of how the digital growth is stacking up against the competition based on recent reports:

Company	Digital/E-commerce Sales Growth (Latest Reported Period in 2025)	Digital Sales as % of Total Sales (Latest Reported Figure)
BJ's Wholesale Club Holdings, Inc. (BJ)	30% year-over-year (Q3 FY2025)	Approaching 17% (Q3 FY2025)
Costco Wholesale Corporation (COST)	13.6% comparable sales (Q4 FY2025)	Roughly 7% of mix (FY2025)

It's clear BJ's has a higher current digital penetration rate than Costco, though Costco is still growing its online channel fast.

Use of data analytics to optimize inventory, pricing, and personalized member offers

Data analytics is moving beyond just knowing what sells; it's about making the physical process better. BJ's is using AI and data from its autonomous inventory robots to create digital twins of its stores. This digital mapping helps management spot operational issues and, crucially, assists in task management for order fulfillment. The real payoff here is efficiency: AI is now predicting the most efficient picking paths for associates fulfilling digital orders, which has made that process about 40% more efficient.

Looking ahead, the plan is to further personalize the member experience. Management noted they will continue to advance the digital experience with an AI shopping assistant and personalized shopping lists soon. This mirrors what competitors are doing; for instance, Walmart Inc. is using its new Sparky assistant within ChatGPT to blend conversation with commerce.

Automation in warehouses and logistics to defintely reduce operating costs

Automation isn't just for the warehouse floor; for BJ's, it's deeply integrated into the club-based fulfillment model. The Tally robots, initially for inventory and price checks, are now part of the digital twin system that helps streamline associate workflows. While I don't have a specific dollar figure for cost reduction from automation alone, the 40% efficiency gain in order picking directly translates to lower labor costs per digital order, which is a major operational leverage point.

Furthermore, the company is managing inventory proactively. In response to tariff uncertainty, they reduced general merchandise inventory, which supported overall margins. This kind of disciplined inventory management, supported by better data visibility, is key to keeping costs low and allowing them to reinvest in member value, like reducing delivery fees.

• Use of Tally robots for inventory accuracy.
• AI-driven path optimization for order picking.
• Digital twins created from robot data for task management.
• Proactive inventory reduction to support margins.

Finance: draft the Q4 2025 capital expenditure forecast update by next Wednesday.

BJ's Wholesale Club Holdings, Inc. (BJ) - PESTLE Analysis: Legal factors

You're looking at the legal landscape, and honestly, it's a minefield of compliance that can slow down growth and hit the bottom line hard. For BJ's Wholesale Club Holdings, Inc., the legal team is juggling everything from local zoning boards to federal data protection mandates while managing a significant physical footprint of 252 clubs across 21 states.

Complex labor laws and unionization efforts in new and existing markets

Expanding into new states, like the planned entry into Texas, means mastering a patchwork of state and local labor regulations. Unionization remains a live issue; we saw a recent National Labor Relations Board (NLRB) judge decision in August 2024 regarding a UFCW Local 342 election in Brooklyn, which didn't result in a rerun vote. Still, the broader trend shows continued organizing pressure across the retail sector, which means BJ's needs consistent, legally sound employee communication strategies everywhere they operate. New state laws, such as California's Workplace Know Your Rights Act, effective January 1, 2026, mandate specific written notices about organizing rights to all employees by February 1, 2026.

The key action here is proactive training for all management on non-coercive communication. Don't let a local manager create an unfair labor practice claim. That's a defintely avoidable cost.

Data privacy regulations (like CCPA) require costly compliance for member data

BJ's collects a ton of member data across its clubs, gas stations, and digital properties, as noted in their January 1, 2025, Privacy Policy update. Regulations like the California Consumer Privacy Act (CCPA), now enforced by the CPPA, demand rigorous compliance for handling personal information. While we don't have BJ's specific 2025 compliance spend, the regulatory environment is tightening; a recent CCPA-related settlement in July 2025 reached $1.55 million for disclosure failures. For a large retailer, the technology and operations costs associated with managing data subject requests (Right to Know, Right to Delete) are substantial, with older estimates for large firms suggesting initial compliance costs near $2 million.

We must budget for ongoing legal and IT spend to manage these rights requests across our member base.

Zoning and permitting laws affect the speed and cost of opening new clubs, with 15 planned for FY 2025

Physical expansion is directly tied to local government approval. BJ's has an ambitious growth plan, targeting 25 to 30 new clubs over the next two fiscal years. For fiscal year 2025, the plan calls for 15 new locations across states like Florida, Georgia, Tennessee, New Jersey, and New York. Each new site requires navigating local zoning ordinances and securing permits, which can introduce significant, unpredictable delays and cost overruns, especially when entering entirely new markets like Texas, which is slated for 2026 openings.

Permitting risk is real; it can push a scheduled Q3 opening into Q1 of the next year, delaying revenue recognition.

Litigation risk related to product liability and slip-and-fall incidents in clubs

The warehouse format itself-high shelving, forklifts, and heavy foot traffic-creates inherent premises liability risks. Slip-and-fall cases are the most common type of claim against BJ's. Furthermore, product liability remains a major concern, as evidenced by the $9 million civil penalty BJ's paid in 2023 for failing to immediately report defective portable air conditioners to the CPSC. That case shows the financial consequence of regulatory oversight failure. The general litigation environment in 2025 is seeing massive plaintiff verdicts, setting a high bar for settlement expectations in serious cases.

We need to ensure our safety protocols are documented and followed to the letter. A single serious incident can cost millions.

Here's a quick look at some key legal exposure metrics:

Legal Factor Area	Relevant Metric/Data Point	Source/Context Year
Regulatory Fines History	$9,000,000 Civil Penalty Paid	CPSC Settlement (2023)
Expansion Footprint	252 Total Clubs Operated	As of 2025
FY 2025 Expansion Target	15 New Clubs Planned	FY 2025 Instruction
Data Privacy Benchmark	$1,550,000 Highest CCPA Fine to Date	California AG Settlement (July 2025)
Labor Law Compliance	New CA Notice Deadline	February 1, 2026

Finance: draft 13-week cash view by Friday

BJ's Wholesale Club Holdings, Inc. (BJ) - PESTLE Analysis: Environmental factors

The immediate environmental pressure point for BJ's Wholesale Club Holdings, Inc. is the gap between investor expectation and concrete, time-bound climate action, particularly concerning Scope 3 emissions and refrigerants.

You are facing increased scrutiny from stakeholders who want to see measurable progress beyond existing commitments, especially after the June 2025 shareholder proposal demanded a report detailing how the company will accelerate its GHG reduction efforts, including an SBTi-validated target. Honestly, the lack of a published annual reduction goal for refrigerants, which made up a concerning $\mathbf{54\%}$ of direct emissions in 2023, is a tangible risk area that needs immediate attention.

It's not just about setting goals; it's about execution, and right now, the market is comparing you to peers who are already moving faster.

Pressure from investors and members for clear, measurable carbon reduction goals

Investor sentiment, as evidenced by the recent shareholder vote, clearly signals a demand for more rigor in your climate strategy. While BJ's Wholesale Club Holdings, Inc. has identified climate strategy and operational GHG emissions as material to the business, the market is looking for more than just identification.

The key sticking point is the commitment to setting a science-based GHG emissions reduction target with the Science Based Targets initiative (SBTi) that includes Scope 3 emissions, a commitment the company had not yet delivered on as of mid-2025. To be fair, peers like Costco are already reporting absolute Scope 1 and 2 reduction targets of $\mathbf{39\%}$ by 2030.

Here's the quick math on the operational challenge: refrigerant leaks alone accounted for $\mathbf{25\%}$ of total operational emissions in 2023.

• Investor focus is on Scope 3 and SBTi alignment.
• Refrigerant management is a critical, high-impact operational fix.
• Peers are setting aggressive, time-bound targets now.

Increased cost and complexity of sustainable packaging mandates

While the US regulatory landscape is still evolving, the trend toward mandatory compliance is defintely accelerating, meaning voluntary efforts are no longer enough. State-level Extended Producer Responsibility (EPR) laws are beginning to take effect across the US in 2025, which will directly impact the cost of packaging materials and waste management fees if your portfolio isn't optimized.

The complexity comes from material choice; for instance, moving toward mono-material designs or increasing recycled content above the $\mathbf{30\%}$ threshold requires significant supply chain re-engineering and supplier vetting. If onboarding takes 14+ days, churn risk rises for suppliers who can't meet new material specifications.

What this estimate hides is the potential for eco-modulation fees under EPR, which will penalize packaging that isn't easily recycled or doesn't contain high levels of recycled content.

Focus on reducing food waste across the supply chain and in-club operations

BJ's Wholesale Club has a clear, measurable goal here, which is a strong positive signal to the market and your members. You are partnered with the EPA's U.S. Food Loss and Waste Champions initiative, committing to reduce food loss and waste in operations by $\mathbf{50\%}$ by 2030.

This focus is smart because, nationally, food waste contributes to approximately $\mathbf{13\%}$ of greenhouse gas emissions, so diversion is a direct climate action. In fiscal year 2022, the company already donated over $\mathbf{12.9}$ million pounds of food, showing an established donation pipeline through programs like BJ's Feeding Communities.

Your approach prioritizes prevention first, which is the most cost-effective strategy.

Key Food Waste Metrics (FY2022/2023 Data)

Metric	Value/Target	Source/Context
Food Waste Reduction Target	50% by 2030	EPA Food Loss and Waste Champions Initiative
Food Donations (FY2022)	Over 12.9 million pounds	Donated to Feeding America member food banks
National GHG Impact of Food Waste	Approx. 13%	Context for environmental importance

Renewable energy adoption in new club construction and existing facility upgrades

You have made tangible progress in on-site renewable energy generation, though the overall clean energy transition timeline is long-term. In fiscal year 2022, solar arrays at $\mathbf{34}$ clubs and distribution centers generated over $\mathbf{34}$ million kWh of electricity.

This on-site generation currently accounts for approximately $\sim\mathbf{6\%}$ of your total electricity consumption, which is a solid start, but it highlights the gap to the $\mathbf{100\%}$ clean energy goal set for 2050. The challenge now is scaling up procurement through Power Purchase Agreements (PPAs) or other contractual instruments to cover the remaining $\mathbf{94\%}$ of electricity use, especially since you did not employ market-based scope 2 calculations in 2022.

Actionable steps involve setting timebound targets for future renewable energy procurement, something your peers are already disclosing.

• On-site solar generation: $\mathbf{34}$+ facilities.
• Solar production (FY2022): Over $\mathbf{34}$ million kWh.
• Current electricity coverage from solar: $\sim\mathbf{6\%}$.
• Long-term goal: $\mathbf{100\%}$ clean energy by 2050.

Finance: draft 13-week cash view by Friday.