BJ'S WHOLESALE CLUB HOLDINGS, INC., 10-Q filed on 8/25/2026
Quarterly Report
v3.26.1
Cover - shares
 6 Months Ended
Aug. 01, 2026
Aug. 20, 2026
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Aug. 01, 2026  
Document Transition Report false  
Entity File Number 001-38559  
Entity Registrant Name BJ’S WHOLESALE CLUB HOLDINGS, INC.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 45-2936287  
Entity Address, Address Line One 350 Campus Drive  
Entity Address, City or Town Marlborough  
Entity Address, State or Province MA  
Entity Address, Postal Zip Code 01752  
City Area Code 774  
Local Phone Number 512-7400  
Title of 12(b) Security Common Stock, par value $0.01  
Trading Symbol BJ  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   126,314,692
Entity Central Index Key 0001531152  
Amendment Flag false  
Current Fiscal Year End Date --01-30  
Document Fiscal Period Focus Q2  
Document Fiscal Year Focus 2026  
v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Aug. 01, 2026
Jan. 31, 2026
Aug. 02, 2025
Current assets:      
Cash and cash equivalents $ 29,982 $ 46,245 $ 47,273
Accounts receivable, net 308,605 252,789 270,905
Merchandise inventories 1,617,034 1,555,471 1,520,684
Prepaid expenses and other current assets 215,080 135,584 90,096
Total current assets 2,170,701 1,990,089 1,928,958
Operating lease right-of-use assets, net 2,061,412 1,976,013 2,054,621
Property and equipment, net 2,589,472 2,364,552 2,068,193
Goodwill 1,008,816 1,008,816 1,008,816
Intangibles, net 93,015 95,462 98,285
Deferred income taxes 4,167 4,427 5,804
Other assets 64,203 71,116 67,095
Total assets 7,991,786 7,510,475 7,231,772
Current liabilities:      
Short-term debt 230,000 120,000 105,000
Current portion of operating lease liabilities 187,865 209,249 173,521
Accounts payable 1,427,905 1,307,405 1,264,208
Accrued expenses and other current liabilities 1,126,778 1,033,579 891,507
Total current liabilities 2,972,548 2,670,233 2,434,236
Long-term operating lease liabilities 1,956,213 1,880,383 1,959,378
Long-term debt 399,245 399,099 398,953
Deferred income taxes 72,826 64,889 68,065
Other non-current liabilities 393,522 298,212 272,046
Total liabilities 5,794,354 5,312,816 5,132,678
Commitments and contingencies (see Note 5)
STOCKHOLDERS’ EQUITY      
Preferred stock; par value $0.01; 5,000 shares authorized, and no shares issued 0 0 0
Common stock, par value $0.01; 300,000 shares authorized, 126,452 shares issued and outstanding at August 1, 2026; 129,638 shares issued and outstanding at January 31, 2026; and 149,820 shares issued and 131,749 outstanding at August 2, 2025 1,265 1,296 1,498
Additional paid-in capital 678,294 995,083 1,113,498
Retained earnings 1,517,800 1,201,207 2,003,121
Accumulated other comprehensive income 73 73 231
Treasury stock, at cost, no shares at August 1, 2026 and January 31, 2026; and 18,071 shares at August 2, 2025 0 0 (1,019,254)
Total stockholders’ equity 2,197,432 2,197,659 2,099,094
Total liabilities and stockholders’ equity $ 7,991,786 $ 7,510,475 $ 7,231,772
v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares
shares in Thousands
Aug. 01, 2026
Jan. 31, 2026
Aug. 02, 2025
Statement of Financial Position [Abstract]      
Preferred stock, par value (in USD per share) $ 0.01 $ 0.01 $ 0.01
Preferred stock, authorized (in shares) 5,000 5,000 5,000
Preferred stock, issued (in shares) 0 0 0
Common stock, par value (in USD per share) $ 0.01 $ 0.01 $ 0.01
Common stock, authorized (in shares) 300,000 300,000 300,000
Common stock, issued (in shares) 126,452 129,638 149,820
Common stock, outstanding (in shares) 126,452 129,638 131,749
Treasury stock (in shares) 0 0 18,071
v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Aug. 01, 2026
Aug. 02, 2025
Aug. 01, 2026
Aug. 02, 2025
Total revenues $ 6,226,579 $ 5,380,240 $ 11,888,079 $ 10,533,723
Cost of sales 5,116,580 4,374,065 9,750,179 8,558,049
Selling, general and administrative expenses 851,206 786,358 1,657,216 1,547,238
Pre-opening expenses 6,436 3,287 20,414 8,261
Operating income 252,357 216,530 460,270 420,175
Interest expense, net 13,083 10,393 25,450 21,492
Income before income taxes 239,274 206,137 434,820 398,683
Provision for income taxes 65,407 55,432 118,227 98,210
Net income $ 173,867 $ 150,705 $ 316,593 $ 300,473
Income per share attributable to common stockholders—basic (in USD per share) $ 1.37 $ 1.14 $ 2.47 $ 2.28
Income per share attributable to common stockholders—diluted (in USD per share) $ 1.36 $ 1.14 $ 2.46 $ 2.27
Weighted-average shares of common stock outstanding:        
Basic (in shares) 127,208 131,799 127,929 131,684
Diluted (in shares) 127,738 132,517 128,561 132,633
Other comprehensive income:        
Total other comprehensive income $ 0 $ 0 $ 0 $ 0
Total comprehensive income 173,867 150,705 316,593 300,473
Net sales        
Total revenues 6,090,975 5,256,907 11,620,120 10,290,001
Membership fee income        
Total revenues $ 135,604 $ 123,333 $ 267,959 $ 243,722
v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($)
$ in Thousands
Total
Common Stock
Additional Paid-in Capital
Retained Earnings
Accumulated Other Comprehensive Income
Treasury Stock
Balance at beginning of period (in shares) at Feb. 01, 2025   148,965,000        
Balance at beginning of period at Feb. 01, 2025 $ 1,847,454 $ 1,489 $ 1,079,445 $ 1,702,648 $ 231 $ (936,359)
Treasury stock at beginning of period (in shares) at Feb. 01, 2025           (17,327,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 149,768     149,768    
Common stock issued under stock incentive plans (in shares)   778,000        
Common stock issued under stock incentive plans 0 $ 8 (8)      
Stock-based compensation expense 10,654   10,654      
Exercise of stock options 5,014   5,014      
Acquisition of treasury stock (in shares)           (365,000)
Acquisition of treasury stock (41,305)         $ (41,305)
Balance at end of period (in shares) at May. 03, 2025   149,743,000        
Balance at end of period at May. 03, 2025 1,971,585 $ 1,497 1,095,105 1,852,416 231 $ (977,664)
Treasury stock at end of period (in shares) at May. 03, 2025           (17,692,000)
Balance at beginning of period (in shares) at Feb. 01, 2025   148,965,000        
Balance at beginning of period at Feb. 01, 2025 1,847,454 $ 1,489 1,079,445 1,702,648 231 $ (936,359)
Treasury stock at beginning of period (in shares) at Feb. 01, 2025           (17,327,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income $ 300,473          
Balance at end of period (in shares) at Aug. 02, 2025 149,820,000 149,820,000        
Balance at end of period at Aug. 02, 2025 $ 2,099,094 $ 1,498 1,113,498 2,003,121 231 $ (1,019,254)
Treasury stock at end of period (in shares) at Aug. 02, 2025 (18,071,000)         (18,071,000)
Balance at beginning of period (in shares) at May. 03, 2025   149,743,000        
Balance at beginning of period at May. 03, 2025 $ 1,971,585 $ 1,497 1,095,105 1,852,416 231 $ (977,664)
Treasury stock at beginning of period (in shares) at May. 03, 2025           (17,692,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 150,705     150,705    
Common stock issued under stock incentive plans (in shares)   18,000        
Common stock issued under ESPP (in shares)   59,000        
Common stock issued under ESPP 4,449 $ 1 4,448      
Stock-based compensation expense 13,945   13,945      
Acquisition of treasury stock (in shares)           (379,000)
Acquisition of treasury stock $ (41,590)         $ (41,590)
Retirement of treasury stock (in shares) 0          
Balance at end of period (in shares) at Aug. 02, 2025 149,820,000 149,820,000        
Balance at end of period at Aug. 02, 2025 $ 2,099,094 $ 1,498 1,113,498 2,003,121 231 $ (1,019,254)
Treasury stock at end of period (in shares) at Aug. 02, 2025 (18,071,000)         (18,071,000)
Balance at beginning of period (in shares) at Jan. 31, 2026 129,638,000 129,638,000        
Balance at beginning of period at Jan. 31, 2026 $ 2,197,659 $ 1,296 995,083 1,201,207 73 $ 0
Treasury stock at beginning of period (in shares) at Jan. 31, 2026 0         0
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income $ 142,726     142,726    
Common stock issued under stock incentive plans (in shares)   390,000        
Common stock issued under stock incentive plans 0 $ 4 (4)      
Stock-based compensation expense 13,280   13,280      
Exercise of stock options 125   125      
Acquisition of treasury stock (in shares)           (2,335,000)
Acquisition of treasury stock (227,531)         $ (227,531)
Retirement of treasury stock (in shares)   2,335,000       2,335,000
Retirement of treasury stock 0 $ (23) (227,508)     $ 227,531
Balance at end of period (in shares) at May. 02, 2026   127,693,000        
Balance at end of period at May. 02, 2026 $ 2,126,259 $ 1,277 780,976 1,343,933 73 $ 0
Treasury stock at end of period (in shares) at May. 02, 2026           0
Balance at beginning of period (in shares) at Jan. 31, 2026 129,638,000 129,638,000        
Balance at beginning of period at Jan. 31, 2026 $ 2,197,659 $ 1,296 995,083 1,201,207 73 $ 0
Treasury stock at beginning of period (in shares) at Jan. 31, 2026 0         0
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income $ 316,593          
Retirement of treasury stock (in shares) 3,720,628          
Retirement of treasury stock     (351,800)     $ 351,800
Balance at end of period (in shares) at Aug. 01, 2026 126,452,000 126,452,000        
Balance at end of period at Aug. 01, 2026 $ 2,197,432 $ 1,265 678,294 1,517,800 73 $ 0
Treasury stock at end of period (in shares) at Aug. 01, 2026 0         0
Balance at beginning of period (in shares) at May. 02, 2026   127,693,000        
Balance at beginning of period at May. 02, 2026 $ 2,126,259 $ 1,277 780,976 1,343,933 73 $ 0
Treasury stock at beginning of period (in shares) at May. 02, 2026           0
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 173,867     173,867    
Common stock issued under stock incentive plans (in shares)   79,000        
Common stock issued under stock incentive plans 0 $ 1 (1)      
Common stock issued under ESPP (in shares)   66,000        
Common stock issued under ESPP 4,874 $ 1 4,873      
Stock-based compensation expense 15,460   15,460      
Exercise of stock options 1,241   1,241      
Acquisition of treasury stock (in shares)           (1,386,000)
Acquisition of treasury stock $ (124,269)         $ (124,269)
Retirement of treasury stock (in shares) 1,385,556 1,386,000       1,386,000
Retirement of treasury stock $ 0 $ (14) (124,255)     $ 124,269
Balance at end of period (in shares) at Aug. 01, 2026 126,452,000 126,452,000        
Balance at end of period at Aug. 01, 2026 $ 2,197,432 $ 1,265 $ 678,294 $ 1,517,800 $ 73 $ 0
Treasury stock at end of period (in shares) at Aug. 01, 2026 0         0
v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Aug. 01, 2026
Aug. 02, 2025
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 316,593 $ 300,473
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 155,335 141,598
Amortization of debt issuance costs and accretion of original issue discount 546 546
Stock-based compensation expense 28,740 24,599
Deferred income tax provision 8,197 9,577
Changes in operating leases and other non-cash items (41,065) (22,178)
Increase (decrease) in cash due to changes in:    
Accounts receivable, net (40,219) 12,243
Merchandise inventories (61,563) (11,696)
Prepaid expenses and other current assets (30,292) (18,589)
Other assets 2,895 (1,158)
Accounts payable 120,500 10,696
Accrued expenses and other current liabilities 80,018 (9,107)
Other non-current liabilities 1,754 20,953
Net cash provided by operating activities 541,439 457,957
CASH FLOWS FROM INVESTING ACTIVITIES    
Additions to property and equipment, net of disposals (359,339) (306,065)
Proceeds from sale-leaseback transactions 0 2,995
Proceeds from assignment of purchase option (see Note 12) 122,100 0
Payment upon exercise of purchase option (see Note 12) (80,718) 0
Other investing activities (3,782) (3,086)
Net cash used in investing activities (321,739) (306,156)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from revolving lines of credit 496,000 131,000
Payments on revolving lines of credit (386,000) (201,000)
Net cash received from stock option exercises 1,366 5,014
Net cash received from ESPP 4,874 4,449
Acquisition of treasury stock (348,761) (82,895)
Net proceeds from financing obligations 2,894 14,804
Other financing activities (6,336) (4,172)
Net cash used in financing activities (235,963) (132,800)
Net (decrease) increase in cash and cash equivalents (16,263) 19,001
Cash and cash equivalents at beginning of period 46,245 28,272
Cash and cash equivalents at end of period 29,982 47,273
Supplemental cash flow information:    
Interest paid 13,272 16,921
Income taxes paid 131,969 104,626
Operating lease liabilities arising from obtaining right-of-use assets and other non-cash lease-related operating items 189,012 52,886
Non-cash financing and investing activities:    
Finance lease liabilities arising from obtaining right-of-use assets 81,444 4,431
Receivables arising from failed sale-leaseback financing obligations 15,847 5,822
Property additions included in accrued expenses 61,462 42,098
Treasury stock acquisitions included in accrued expenses $ 3,039 $ 53
v3.26.1
Description of Business
 6 Months Ended
Aug. 01, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Description of Business Description of Business
BJ’s Wholesale Club Holdings, Inc. and its wholly-owned subsidiaries (the “Company” or “BJ’s”) is a leading operator of membership warehouse clubs concentrated primarily in the eastern half of the United States. The Company provides a curated assortment focused on groceries, fresh foods, general merchandise, gasoline, and other ancillary services to deliver a differentiated shopping experience that is further enhanced by the Company's digital capabilities. As of August 1, 2026, BJ's operated 267 warehouse clubs and 206 gas stations in 22 states.
v3.26.1
Summary of Significant Accounting Policies
 6 Months Ended
Aug. 01, 2026
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies Summary of Significant Accounting Policies
(a) Basis of Presentation
The accompanying interim financial statements of BJ’s Wholesale Club Holdings, Inc. are unaudited and, in the opinion of management, reflect all normal recurring adjustments considered necessary for a fair statement of the Company’s financial statements in accordance with GAAP. 
The condensed consolidated balance sheet as of January 31, 2026 is derived from the audited consolidated balance sheet as of that date. The Company’s business, as is common with the business of retailers generally, is subject to some seasonality. The Company’s net sales and cash flows have typically been highest in the fourth quarter holiday season and lowest in the first quarter of each fiscal year. 
These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and footnotes thereto included in our Annual Report on Form 10-K for fiscal year 2025, as filed with the Securities and Exchange Commission on March 12, 2026.
(b) Fiscal Year
The Company follows the National Retail Federation’s fiscal calendar and reports financial information on a 52- or 53-week year ending on the Saturday closest to January 31. The thirteen-week periods ended August 1, 2026 and August 2, 2025 are referred to herein as the “second quarter of fiscal year 2026” and the “second quarter of fiscal year 2025,” respectively. The twenty-six week periods ended August 1, 2026 and August 2, 2025 are referred to herein as the “twenty-six weeks ended August 1, 2026” and the “twenty-six weeks ended August 2, 2025,” respectively. Operating results for the twenty-six week period ended August 1, 2026 are not necessarily indicative of the results that may be expected for the 52-week fiscal year ending January 30, 2027.
(c) Recently Issued Accounting Pronouncements and Policies
The Company’s accounting policies are set forth in the audited financial statements included in the Company’s Annual Report on Form 10-K for fiscal year 2025. There have been no material changes to these accounting policies and no accounting pronouncements adopted that had a material impact on the Company’s financial statements aside from those identified herein.
In November 2024, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. ASU 2024-03 requires disclosure of certain costs and expenses on an interim and annual basis in the notes to the financial statements. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The disclosures required under the guidance can be applied either prospectively to financial statements issued for reporting periods after the effective date or retrospectively to any or all periods presented in the financial statements. The Company is currently evaluating the impact of this guidance on the notes to its financial statements, and does not expect ASU 2024-03 to affect its consolidated financial statements.
In September 2025, the FASB issued ASU 2025-06, Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software. ASU 2025-06 modernizes the accounting for internal-use software costs by increasing the operability of the recognition guidance considering different methods of software development, and removing the previous “development stage” model to determine when costs are able to be capitalized. ASU 2025-06 is effective for fiscal years beginning after December 15, 2027 and interim periods within those annual reporting
periods. Early adoption is permitted. The Company may apply the guidance prospectively, retrospectively, or via a modified prospective transition method. The Company is currently evaluating the impact that this guidance will have on its consolidated financial statements and disclosures.
(d) Recently Adopted Accounting Pronouncements and Policies
In December 2025, the FASB issued ASU No. 2025-12, Codification Improvements which serves to clarify, correct errors, or make minor improvements to various topics within the Codification. Generally, the amendments in this ASU are not intended to result in significant changes to current accounting principles. ASU 2025-12 is effective for fiscal years beginning after December 15, 2026 and interim periods within those annual reporting periods. Early adoption is permitted, and entities may elect to adopt the amendments on an issue-by-issue basis.
The Company adopted ASU 2025-12 during the first quarter of fiscal year 2026, which changes the accounting for treasury share retirements. Under the new guidance, the Company elected to recognize the excess of the repurchase price over par value entirely as a reduction from additional paid-in-capital (“APIC”), provided that APIC remains positive. This policy change is reflected within the condensed consolidated balance sheets, statements of stockholders’ equity, and “Note 7. Treasury Shares and Share Repurchase Program.” The adoption did not impact the consolidated statements of operations and comprehensive income or the statements of cash flows.
v3.26.1
Revenue Recognition
 6 Months Ended
Aug. 01, 2026
Revenue from Contract with Customer [Abstract]  
Revenue Recognition Revenue Recognition
Net sales
The Company recognizes net sales at clubs and gas stations when the customer takes possession of the goods and tenders payment. Revenue is recorded at the point-of-sale based on the transaction price, net of any applicable discounts, sales tax, and expected refunds. For digitally-enabled sales, including buy-online-pickup-in-club (“BOPIC”), curbside delivery, and same-day delivery, the Company generally recognizes revenue when the customer takes possession of the merchandise. For ship-to-home sales, the Company recognizes revenue when control of the merchandise is transferred to the customer, which is typically at the time of shipment.
In the ordinary course of business, sales tax is collected at the time of purchase on items that are taxable in the respective jurisdiction. Sales tax is not included within net sales in the consolidated statements of operations and comprehensive income. Sales tax is recorded as a liability at the point-of-sale and subsequently remitted to the appropriate taxing authority.
Rewards programs
The Company’s Club+ program allows participating members to earn 2% cash back, up to a maximum of $500 per year, on qualified purchases made in BJ’s clubs, on bjs.com, or in the BJ’s mobile app, a 5-cent per gallon discount at BJ’s gas locations, and two free same-day deliveries. Cash back is in the form of electronic rewards issued to each member once $10 in rewards have been earned.
The Company’s co-branded credit card program, known as the BJ’s One and BJ’s One+ program, allows cardholders the opportunity to earn up to 5% cash back on purchases made in BJ’s clubs, on bjs.com, or in the BJ’s mobile app, and up to a 15-cent per gallon discount on gasoline when paying with a BJ’s One or BJ’s One+ Mastercard at BJ’s gas locations. BJ’s One+ Mastercard cardholders also receive two free same-day deliveries if such benefit has not already been received under the Club+ program. Cash back is in the form of electronic rewards issued to each member monthly on the credit card statement date. Earned rewards on each of the Club+ and co-branded credit card programs do not expire.
The Company accounts for these transactions as multiple-element arrangements and allocates the transaction price to separate performance obligations using their relative fair values. The Company includes the fair value of rewards in deferred revenue at the time the rewards are earned. Earned rewards may be redeemed on future purchases made at BJ’s. The Company recognizes revenue related to earned rewards when customers redeem such rewards as part of a purchase at one of the Company’s clubs, on bjs.com, or in the BJ’s mobile app. While the Company continues to honor all rewards presented for redemption, the likelihood of redemption is deemed to be remote for certain rewards due to historical experience, including after long periods of inactivity, and rewards being linked to expired or canceled memberships. In these circumstances, the Company recognizes revenue, or breakage, from unredeemed rewards. The Company earns monthly royalties under the BJ’s One and BJ’s One+ credit card programs related to the use of the BJ’s trade name and the issuance of rewards and gasoline discounts to cardholders. Royalty revenue is recognized based upon actual customer activities, such as reward redemptions, in the period in which the underlying activity occurs.
Membership
The Company charges a membership fee to its customers, which allows customers to shop in the Company’s clubs, on bjs.com, or in the BJ’s mobile app, and purchase gasoline at the Company’s gas stations for the duration of the membership, which is generally twelve months. In addition, members have access to other ancillary services, coupons, and promotions. As the Company has the obligation to provide access to its clubs, website, mobile app, and gas stations for the duration of the membership term, the Company recognizes membership fees on a straight-line basis over the life of the membership. All membership fees and related membership revenues are recorded as membership fee income in the condensed consolidated statements of operations and comprehensive income.
Gift Card Program
The Company sells BJ’s gift cards that allow customers to redeem the cards for future purchases equal to the loaded value of the gift card. Revenue from gift card sales is recognized upon redemption of the gift cards and control of the purchased goods or services is transferred to the customer.
Contract Balances
Current and long-term deferred revenue balances are included within accrued expenses and other current liabilities and other non-current liabilities, respectively, in the condensed consolidated balance sheets.
The following table summarizes the Company’s deferred revenue balance related to outstanding performance obligations for contracts with customers, excluding earned rewards which are noted below (in thousands):
August 1, 2026January 31, 2026August 2, 2025
Current:
   Rewards programs:
   Royalty revenue$6,870 $10,572 $7,297 
   Co-brand initiatives2,349 2,910 3,143 
   Total rewards programs9,219 13,482 10,440 
    Membership291,015 240,643 267,382 
    Gift card program17,162 18,252 16,274 
    E-commerce sales9,718 9,059 6,623 
Long-term:
    Rewards programs:
   Co-brand initiatives1,959 2,324 2,154 
      Total deferred revenue$329,073 $283,760 $302,873 
The following table presents deferred revenue activity related to earned rewards (in thousands):
Twenty-six Weeks Ended
August 1, 2026August 2, 2025
Earned rewards balance, beginning of period$71,427 $57,474 
Rewards earned192,992 182,567 
Revenue recognized on rewards(188,196)(174,522)
Earned rewards balance, end of period$76,223 $65,519 
Earned rewards are combined in one homogeneous pool and are not separately identifiable. Revenue recognized on rewards consists of rewards that were included in the deferred revenue balance at the beginning of the period as well as rewards that were earned during the period.
The following table summarizes the Company’s revenue recognized during the period that was included in the opening deferred balance, excluding earned rewards, as of January 31, 2026 and February 1, 2025 (in thousands):
Twenty-six Weeks Ended
August 1, 2026August 2, 2025
Rewards programs:
Royalty revenue$10,572 $9,972 
Co-brand initiatives1,747 1,924 
Total rewards programs12,319 11,896 
Membership184,148 184,185 
Gift card program3,860 3,743 
E-commerce sales9,059 7,839 
Total revenue$209,386 $207,663 
Performance obligations related to royalty revenue, membership fees, and e-commerce sales are typically satisfied over a period of twelve months or less. Funds received related to marketing and other integration costs in connection with our co-brand credit card program are recognized as performance obligations are satisfied. The timing and recognition of earned rewards and gift card redemptions varies depending on consumer behavior and spending patterns.
Disaggregation of Revenue
The following table summarizes the Company’s percentage of net sales disaggregated by category:
Thirteen Weeks EndedTwenty-six Weeks Ended
August 1, 2026August 2, 2025August 1, 2026August 2, 2025
Perishables, Grocery, and Sundries65%71%67%72%
General Merchandise and Services10%11%10%10%
Gasoline and Other25%18%23%18%
v3.26.1
Debt and Credit Arrangements
 6 Months Ended
Aug. 01, 2026
Debt Disclosure [Abstract]  
Debt and Credit Arrangements Debt and Credit Arrangements
The following table summarizes the Company’s debt (in thousands):
August 1, 2026January 31, 2026August 2, 2025
ABL Revolving Facility$230,000 $120,000 $105,000 
First Lien Term Loan400,000 400,000 400,000 
Unamortized original issue discount and debt issuance costs(755)(901)(1,047)
Less: Short-term debt(230,000)(120,000)(105,000)
Long-term debt$399,245 $399,099 $398,953 
ABL Revolving Facility
On July 28, 2022, the Company entered into the ABL Revolving Facility with an ABL Revolving Commitment of $1.20 billion pursuant to that certain credit agreement (the “Credit Agreement”) with Bank of America, N.A., as administrative agent and collateral agent, and the other lenders party thereto. The maturity date of the ABL Revolving Facility is July 28, 2027.
Revolving loans under the ABL Revolving Facility are available in an aggregate amount equal to the lesser of the aggregate ABL Revolving Commitment or a borrowing base based on the value of certain inventory and accounts and credit card receivables, subject to specified advance rebates and reserves as set forth in the Credit Agreement. Indebtedness under the ABL Revolving Facility is secured by substantially all of the assets (other than real estate) of the Company and its subsidiaries, subject to customary exceptions. As amended, interest on the ABL Revolving Facility is calculated either at SOFR plus a range of 100 to 125 basis points or a base rate plus 0 to 25 basis points, based on excess availability. The Company will also pay an unused commitment fee of 20 basis points per annum on the unused ABL Revolving Commitment. Each borrowing is for a period of one, three, or six months, as selected by the Company, or for such other period that is twelve months or less requested by the Company and consented to by the lenders and administrative agent.
The ABL Revolving Facility places certain restrictions (i.e., covenants) upon the Borrower’s, and its subsidiaries’, ability to, among other things, incur additional indebtedness, pay dividends, and make certain loans, investments, and divestitures. The ABL Revolving Facility contains customary events of default (including payment defaults, cross-defaults to certain of our other indebtedness, breach of representations and covenants and change of control). The occurrence of an event of default under the ABL Revolving Facility would permit the lenders to accelerate the indebtedness and terminate the ABL Revolving Facility.
As of August 1, 2026, there was $230.0 million outstanding in loans under the ABL Revolving Facility and $7.7 million in outstanding letters of credit. The interest rate on the ABL Revolving Facility was 4.83% and unused capacity was $962.3 million. As of January 31, 2026 and August 2, 2025, the interest rate on the ABL Revolving Facility was 4.77% and 5.45%, respectively.
First Lien Term Loan
On November 4, 2024, the Company entered into an amendment (the “Fifth Amendment”) to the First Lien Term Loan Credit Agreement, with Nomura Corporate Funding Americas, LLC, as administrative agent and collateral agent, and the lenders party thereto.
The Fifth Amendment, among other things, provided for a new tranche of term loans in an aggregate principal amount of $400.0 million, which refinanced and replaced in full the existing Tranche B term loans outstanding under the First Lien Term Loan Credit Agreement immediately prior to the effectiveness of the Fifth Amendment. In addition, the Fifth Amendment reduced applicable margin in respect of the interest rate from SOFR plus 200 basis points per annum to SOFR plus 175 basis points per annum. The maturity date of the First Lien Term Loan is February 3, 2029.
Voluntary prepayments are permitted. Principal payments must be made on the First Lien Term Loan pursuant to an annual excess cash flow calculation when the net leverage ratio exceeds 3.50 to 1.00. As of August 1, 2026, the Company's net leverage ratio did not exceed 3.50 to 1.00, and therefore, no incremental principal payments were required. The First Lien Term Loan is subject to certain affirmative and negative covenants but no financial covenants. It is secured on a senior basis by certain “fixed assets” of the Company and on a junior basis by certain “liquid” assets of the Company.
There was $400.0 million outstanding under the First Lien Term Loan as of each of August 1, 2026, January 31, 2026, and August 2, 2025. The interest rate on the First Lien Term Loan was 5.41%, 5.43%, and 5.88% at August 1, 2026, January 31, 2026, and August 2, 2025, respectively.
v3.26.1
Commitments and Contingencies
 6 Months Ended
Aug. 01, 2026
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
The Company is involved in various legal proceedings that are typical of a retail business. In accordance with applicable accounting guidance, an accrual will be established for legal proceedings if and when those matters present loss contingencies that are both probable and estimable. The Company does not believe the resolution of any current proceedings will result in a material impact to the condensed consolidated financial statements. Gain contingencies are recognized when they are realized or realizable.
v3.26.1
Stock Incentive Plans
 6 Months Ended
Aug. 01, 2026
Share-Based Payment Arrangement [Abstract]  
Stock Incentive Plans Stock Incentive Plans
On June 13, 2018, the Company’s board of directors adopted, and its stockholders approved, the BJ’s Wholesale Club Holdings, Inc. 2018 Incentive Award Plan (the “2018 Plan”). The 2018 Plan provides for, among other types of awards, the grant of restricted stock, restricted stock units, and performance shares.
The 2018 Plan authorizes the issuance of 13,148,058 shares and allows for most shares that are forfeited, expire, or are settled in cash to be reissued for new grants that may be awarded. For further details on the 2018 Plan, refer to “Note 11. Stock Incentive Plans” included in our Annual Report on Form 10-K for fiscal year 2025, as filed with the Securities and Exchange Commission on March 12, 2026.
As of August 1, 2026, there were 4,004,018 shares available for future issuance under the 2018 Plan.
The following table summarizes the Company’s stock award activity during the twenty-six weeks ended August 1, 2026 (shares in thousands):
Stock OptionsRestricted StockRestricted Stock UnitsPerformance Stock Units
SharesWeighted-
Average
Exercise
Price		SharesWeighted-
Average
Grant
Date Fair
Value		SharesWeighted-
Average
Grant
Date Fair
Value
Shares(a)
Weighted-
Average
Grant
Date Fair
Value
Outstanding, January 31, 2026522 $20.52 93 $78.15 480 $95.76 507 $84.56 
Granted (b)
— — — — 345 93.21 250 94.27 
Forfeited/canceled (c)
— — (1)76.07 (19)97.18 (14)79.97 
Exercised/vested(78)17.52 (81)76.07 (193)92.62 (211)64.58 
Outstanding, August 1, 2026444 $21.04 11 $92.95 613 $95.27 532 $93.63 
(a) Shares outstanding reflect a 100% payout. However, the actual payout for the remaining performance stock unit awards granted in fiscal year 2021 is expected to be 200%, and the actual payout for performance stock unit awards granted in fiscal year 2023, which vested in the first quarter of fiscal year 2026, was 92%. Actual payout for the performance stock unit awards granted in each of fiscal years 2024, 2025, and 2026, which vest in fiscal years 2027, 2028, and 2029, respectively, could be below 100% or up to 300%.
(b) Includes 38 incremental performance stock units granted in fiscal year 2021 with a weighted-average grant date fair value of $44.04, that vested in fiscal year 2026 at greater than 100% of target payout based on performance.
(c) Includes 12 performance stock units granted in fiscal year 2023 with a weighted-average grant date fair value of $76.07, that vested in fiscal year 2026 at less than 100% of target payout based on performance.
Stock-based compensation expense was $15.5 million and $13.9 million for the thirteen weeks ended August 1, 2026 and August 2, 2025, respectively, and $28.7 million and $24.6 million for the twenty-six weeks ended August 1, 2026 and August 2, 2025, respectively.
On June 14, 2018, the Company’s board of directors adopted, and its stockholders approved, the ESPP, which became effective July 1, 2018. The aggregate number of shares of common stock reserved for issuance under the ESPP is equal to the sum of (i) 973,014 shares and (ii) an annual increase on the first day of each calendar year beginning in 2019 and ending in 2028 equal to the lesser of (A) 486,507 shares, (B) 0.5% of the shares outstanding (on an as converted basis) on the last day of the immediately preceding fiscal year and (C) such smaller number of shares as determined by the Company’s board of directors. The amount of expense recognized related to the ESPP was $0.5 million and $0.4 million for the thirteen weeks ended August 1, 2026 and August 2, 2025, respectively, and $1.1 million and $1.0 million for the twenty-six weeks ended August 1, 2026 and August 2, 2025, respectively. As of August 1, 2026, there were 3,578,686 shares available for issuance under the ESPP.
v3.26.1
Treasury Shares and Share Repurchase Program
 6 Months Ended
Aug. 01, 2026
Equity [Abstract]  
Treasury Shares and Share Repurchase Program Treasury Shares and Share Repurchase Program
Treasury Shares Acquired on Stock-Based Awards
The Company acquired 1,278 shares for $0.1 million and 3,670 shares for $0.4 million in the thirteen weeks ended August 1, 2026 and August 2, 2025, respectively, to satisfy employees’ tax withholding obligations upon the vesting of restricted stock awards, which was recorded as treasury stock.
The Company acquired 222,350 shares for $21.1 million and 313,772 shares for $35.5 million in the twenty-six weeks ended August 1, 2026 and August 2, 2025, respectively, to satisfy employees’ tax withholding obligations upon the vesting of restricted stock and performance stock awards, which was recorded as treasury stock.
Share Repurchase Program
On November 18, 2024, the Company’s board of directors approved a share repurchase program (the “2024 Repurchase Program”) that allows the Company to repurchase up to $1.00 billion of its outstanding common stock from time to time as market conditions warrant. The 2024 Repurchase Program was effective on February 1, 2025 and expires in January 2029. The timing and actual number of shares repurchased will depend on a variety of factors including price, corporate requirements, market conditions, and other corporate liquidity requirements and priorities. The Company initiated the 2024 Repurchase Program to mitigate potentially dilutive effects of stock awards granted by the Company, in addition to enhancing shareholder value.
The Company repurchased 1,384,278 shares for $124.1 million and 375,000 shares for $41.2 million under the 2024 Repurchase Program during the thirteen weeks ended August 1, 2026 and August 2, 2025, respectively. The Company repurchased 3,498,278 shares for $330.7 million and 430,000 shares for $47.4 million under the 2024 Repurchase Program during the twenty-six weeks ended August 1, 2026 and August 2, 2025, respectively. The Company accounts for treasury stock under the cost method based on the fair market value of the shares on the dates of repurchase plus any direct costs incurred.
As of August 1, 2026, $422.1 million remained available to purchase under the 2024 Repurchase Program.
Retirement of Treasury Shares
During the second quarter and first six months of fiscal 2026, the Company retired 1,385,556 and 3,720,628 shares of treasury stock, respectively, which represented the cumulative number of shares held in the Company’s treasury due to acquisitions during the applicable period. The retirement of these shares resulted in decreases in each of treasury stock and APIC of $124.3 million for the second quarter and $351.8 million for the first six months of fiscal 2026. There were no share retirements during the second quarter and first six months of fiscal year 2025.
v3.26.1
Income Taxes
 6 Months Ended
Aug. 01, 2026
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The Company projects the estimated annual effective tax rate for fiscal year 2026 to be 27.8%, excluding the tax effect of discrete events, such as excess tax benefits from stock-based compensation, changes in tax legislation, settlements of tax audits and changes in uncertain tax positions, among others.
The Company’s effective income tax rate was 27.3% and 26.9% for the thirteen weeks ended August 1, 2026 and August 2, 2025, respectively. The increase in the effective tax rate for the thirteen-week period was primarily attributable to lower tax gains on transferable tax credits, partially offset by higher tax benefits from stock-based compensation in the current year period.
For the twenty-six weeks ended August 1, 2026 and August 2, 2025, the Company's effective tax rate was 27.2% and 24.6%, respectively. The increase compared to the prior year period was primarily attributable to lower tax benefits from stock-based compensation compared to the prior year period.
Cash taxes paid as presented in the supplemental cash flow information section of the condensed consolidated statements of cash flows includes $98.0 million paid for transferable credits during the twenty-six weeks ended August 1, 2026.
The Company is subject to taxation in the U.S. federal and various state taxing jurisdictions. The Company’s tax years from 2021 forward remain open and subject to examination by the Internal Revenue Service and various state taxing authorities.
On July 4, 2025, new legislation, commonly known as the One Big Beautiful Bill Act (the “Act”), was signed into law. Among other provisions, the Act reestablished and made permanent 100% initial-year bonus depreciation on qualifying property, as well as the immediate deduction for domestic research and development expenses. The Company has quantified the impact of the Act to our financial statements and has reflected the effects within the consolidated financial statements as of and for the thirteen and twenty-six weeks ended August 1, 2026.
v3.26.1
Fair Value Measurements
 6 Months Ended
Aug. 01, 2026
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
Certain assets and liabilities are required to be carried at fair value in accordance with GAAP. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date.
The Company uses a three-level hierarchy that prioritizes the inputs used to measure fair value. This hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. Financial assets and liabilities carried at fair value are to be classified and disclosed in one of the following three levels of the fair value hierarchy, of which the first two are considered observable and the last is considered unobservable:
Level 1: Quoted market prices in active markets for identical assets or liabilities.
Level 2: Observable inputs other than quoted market prices included in Level 1 such as quoted market prices for markets that are not active or other inputs that are observable or can be corroborated by observable market data.
Level 3: Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities, including certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs.
Financial Assets and Liabilities
The fair value of the Company’s long-term debt is estimated based on current market rates for our specific debt instrument. Judgment is required to develop these estimates. As such, the estimated fair value of long-term debt is classified within Level 2, as defined under GAAP.
The gross carrying amount and fair value of the Company’s debt at August 1, 2026 are as follows (in thousands):
Carrying AmountFair Value
ABL Revolving Facility$230,000 $230,000 
First Lien Term Loan400,000 401,332 
Total Debt$630,000 $631,332 
The gross carrying amount and fair value of the Company’s debt at January 31, 2026 are as follows (in thousands):
Carrying AmountFair Value
ABL Revolving Facility$120,000 $120,000 
First Lien Term Loan400,000 404,252 
Total Debt$520,000 $524,252 
The gross carrying amount and fair value of the Company’s debt at August 2, 2025 are as follows (in thousands):
Carrying AmountFair Value
ABL Revolving Facility$105,000 $105,000 
First Lien Term Loan400,000 402,000 
Total Debt$505,000 $507,000 
Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis
The Company believes that the carrying amounts of its other financial instruments, including cash, accounts receivable, and accounts payable, approximate their fair values due to the short-term maturities of these instruments.
v3.26.1
Earnings Per Share
 6 Months Ended
Aug. 01, 2026
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
The table below reconciles basic weighted-average shares of common stock outstanding to diluted weighted-average shares of common stock outstanding for the thirteen and twenty-six weeks ended August 1, 2026 and August 2, 2025 (in thousands):
Thirteen Weeks EndedTwenty-six Weeks Ended
August 1, 2026August 2, 2025August 1, 2026August 2, 2025
Weighted-average shares of common stock outstanding, used for basic computation127,208 131,799 127,929 131,684 
Plus: Incremental shares of potentially dilutive securities530 718 632 949 
Weighted-average shares of common stock and dilutive potential shares of common stock outstanding127,738 132,517 128,561 132,633 
The table below summarizes awards that were excluded from the computation of diluted earnings for the thirteen and twenty-six weeks ended August 1, 2026 and August 2, 2025, as their inclusion would have been anti-dilutive (in thousands):
Thirteen Weeks EndedTwenty-six Weeks Ended
August 1, 2026August 2, 2025August 1, 2026August 2, 2025
Stock-based awards263 168 255 128 
v3.26.1
Segment Reporting
 6 Months Ended
Aug. 01, 2026
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
The Company’s operations are primarily retail club and other sales procured from clubs and distribution centers, representing one operating segment. All of the Company’s identifiable assets are located in the United States. The Company does not have significant sales outside the United States, nor does any customer represent more than 10% of total revenues for any period presented.
The chief operating decision maker (“CODM”) is the Company’s chairman and chief executive officer. The CODM uses net income, as reported in the condensed consolidated statements of operations and comprehensive income, in evaluating performance of the retail operations segment and determining how to allocate resources of the Company as a whole, including investing in clubs, stockholder return programs, and other strategies. The CODM does not review assets when evaluating the results of the segment, and therefore, such information is not presented.
The following table provides the operating financial results of our reportable segment (in thousands):
Thirteen Weeks EndedTwenty-six Weeks Ended
August 1, 2026August 2, 2025August 1, 2026August 2, 2025
Total revenues$6,226,579 $5,380,240 $11,888,079 $10,533,723 
Less: significant and other segment expenses
Merchandise cost of sales (a)
3,763,786 3,528,423 7,283,989 6,892,208 
Selling, general and administrative expenses (b)
857,642 789,645 1,677,630 1,555,499 
Other segment expenses (c)
1,431,284 911,467 2,609,867 1,785,543 
Net income$173,867 $150,705 $316,593 $300,473 
(a)
Merchandise cost of sales represents those expenses related to the sales of merchandise including inventory costs and distribution costs, and excludes costs related to gasoline and membership fee income.
(b)
Selling, general and administrative expenses is inclusive of pre-opening expenses, stock-based compensation, and other corporate expenses.
(c)
Other segment expenses primarily consists of other costs of revenues, including gas, as well as interest expense and income tax expense.
v3.26.1
Leases
 6 Months Ended
Aug. 01, 2026
Leases [Abstract]  
Leases Leases
Distribution Center Sale-Leaseback
In July 2026, the Company exercised its fixed-price purchase option under an existing lease to purchase the underlying land and building for the Company’s new ambient distribution center in Ohio. The Company concurrently assigned its rights under the resulting purchase and sale agreement to an unrelated third party (the “Buyer”) for total cash consideration of $122.1 million. The transaction met the criteria for sale accounting and was executed at market terms. The Company recognized a gain of $10.6 million which represented the excess of sale proceeds, net of transaction costs, over the net carrying values of the derecognized assets and liabilities. The gain was recognized as a reduction of selling, general, and administrative expenses in the consolidated statements of operations for the thirteen and twenty-six weeks ended August 1, 2026.
The Company executed a lease with the Buyer, which has an initial term of 25 years and four five-year renewal options that were excluded from the lease term as they are not reasonably certain to be exercised. At commencement, the Company recorded an operating lease right-of-use asset and corresponding operating lease liability of $93.6 million.
Assets Held for Sale
In July 2026, the Company executed a letter of intent for the sale and leaseback of two of the Company’s owned retail properties. The Company expects the transaction to close in the second half of fiscal year 2026 for cash consideration and determined the underlying assets meet the held-for-sale criteria. The Company reclassified the net carrying value of property and equipment totaling $44.9 million to prepaid expenses and other current assets in the condensed consolidated balance sheet as of August 1, 2026. Assets held for sale are recorded at the lower of their carrying value or fair value less costs to sell, are reassessed at each reporting date, and are no longer depreciated. No impairment loss was recognized upon reclassification. The Company expects the leases to be classified as operating leases at commencement.
v3.26.1
Insider Trading Arrangements
 3 Months Ended
Aug. 01, 2026
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.26.1
Summary of Significant Accounting Policies (Policies)
 6 Months Ended
Aug. 01, 2026
Accounting Policies [Abstract]  
Basis of Presentation Basis of Presentation
The accompanying interim financial statements of BJ’s Wholesale Club Holdings, Inc. are unaudited and, in the opinion of management, reflect all normal recurring adjustments considered necessary for a fair statement of the Company’s financial statements in accordance with GAAP. 
The condensed consolidated balance sheet as of January 31, 2026 is derived from the audited consolidated balance sheet as of that date. The Company’s business, as is common with the business of retailers generally, is subject to some seasonality. The Company’s net sales and cash flows have typically been highest in the fourth quarter holiday season and lowest in the first quarter of each fiscal year. 
These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and footnotes thereto included in our Annual Report on Form 10-K for fiscal year 2025, as filed with the Securities and Exchange Commission on March 12, 2026.
Fiscal Year Fiscal YearThe Company follows the National Retail Federation’s fiscal calendar and reports financial information on a 52- or 53-week year ending on the Saturday closest to January 31. The thirteen-week periods ended August 1, 2026 and August 2, 2025 are referred to herein as the “second quarter of fiscal year 2026” and the “second quarter of fiscal year 2025,” respectively. The twenty-six week periods ended August 1, 2026 and August 2, 2025 are referred to herein as the “twenty-six weeks ended August 1, 2026” and the “twenty-six weeks ended August 2, 2025,” respectively. Operating results for the twenty-six week period ended August 1, 2026 are not necessarily indicative of the results that may be expected for the 52-week fiscal year ending January 30, 2027.
Recently Issued and Adopted Accounting Pronouncements and Policies Recently Issued Accounting Pronouncements and Policies
The Company’s accounting policies are set forth in the audited financial statements included in the Company’s Annual Report on Form 10-K for fiscal year 2025. There have been no material changes to these accounting policies and no accounting pronouncements adopted that had a material impact on the Company’s financial statements aside from those identified herein.
In November 2024, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. ASU 2024-03 requires disclosure of certain costs and expenses on an interim and annual basis in the notes to the financial statements. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The disclosures required under the guidance can be applied either prospectively to financial statements issued for reporting periods after the effective date or retrospectively to any or all periods presented in the financial statements. The Company is currently evaluating the impact of this guidance on the notes to its financial statements, and does not expect ASU 2024-03 to affect its consolidated financial statements.
In September 2025, the FASB issued ASU 2025-06, Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software. ASU 2025-06 modernizes the accounting for internal-use software costs by increasing the operability of the recognition guidance considering different methods of software development, and removing the previous “development stage” model to determine when costs are able to be capitalized. ASU 2025-06 is effective for fiscal years beginning after December 15, 2027 and interim periods within those annual reporting
periods. Early adoption is permitted. The Company may apply the guidance prospectively, retrospectively, or via a modified prospective transition method. The Company is currently evaluating the impact that this guidance will have on its consolidated financial statements and disclosures.
(d) Recently Adopted Accounting Pronouncements and Policies
In December 2025, the FASB issued ASU No. 2025-12, Codification Improvements which serves to clarify, correct errors, or make minor improvements to various topics within the Codification. Generally, the amendments in this ASU are not intended to result in significant changes to current accounting principles. ASU 2025-12 is effective for fiscal years beginning after December 15, 2026 and interim periods within those annual reporting periods. Early adoption is permitted, and entities may elect to adopt the amendments on an issue-by-issue basis.
The Company adopted ASU 2025-12 during the first quarter of fiscal year 2026, which changes the accounting for treasury share retirements. Under the new guidance, the Company elected to recognize the excess of the repurchase price over par value entirely as a reduction from additional paid-in-capital (“APIC”), provided that APIC remains positive. This policy change is reflected within the condensed consolidated balance sheets, statements of stockholders’ equity, and “Note 7. Treasury Shares and Share Repurchase Program.” The adoption did not impact the consolidated statements of operations and comprehensive income or the statements of cash flows.
v3.26.1
Revenue Recognition (Tables)
 6 Months Ended
Aug. 01, 2026
Revenue from Contract with Customer [Abstract]  
Summary of Deferred Revenue Related to Outstanding Performance Obligations and Revenue Recognized
The following table summarizes the Company’s deferred revenue balance related to outstanding performance obligations for contracts with customers, excluding earned rewards which are noted below (in thousands):
August 1, 2026January 31, 2026August 2, 2025
Current:
   Rewards programs:
   Royalty revenue$6,870 $10,572 $7,297 
   Co-brand initiatives2,349 2,910 3,143 
   Total rewards programs9,219 13,482 10,440 
    Membership291,015 240,643 267,382 
    Gift card program17,162 18,252 16,274 
    E-commerce sales9,718 9,059 6,623 
Long-term:
    Rewards programs:
   Co-brand initiatives1,959 2,324 2,154 
      Total deferred revenue$329,073 $283,760 $302,873 
The following table presents deferred revenue activity related to earned rewards (in thousands):
Twenty-six Weeks Ended
August 1, 2026August 2, 2025
Earned rewards balance, beginning of period$71,427 $57,474 
Rewards earned192,992 182,567 
Revenue recognized on rewards(188,196)(174,522)
Earned rewards balance, end of period$76,223 $65,519 
The following table summarizes the Company’s revenue recognized during the period that was included in the opening deferred balance, excluding earned rewards, as of January 31, 2026 and February 1, 2025 (in thousands):
Twenty-six Weeks Ended
August 1, 2026August 2, 2025
Rewards programs:
Royalty revenue$10,572 $9,972 
Co-brand initiatives1,747 1,924 
Total rewards programs12,319 11,896 
Membership184,148 184,185 
Gift card program3,860 3,743 
E-commerce sales9,059 7,839 
Total revenue$209,386 $207,663 
Summary of Disaggregation of Revenue
The following table summarizes the Company’s percentage of net sales disaggregated by category:
Thirteen Weeks EndedTwenty-six Weeks Ended
August 1, 2026August 2, 2025August 1, 2026August 2, 2025
Perishables, Grocery, and Sundries65%71%67%72%
General Merchandise and Services10%11%10%10%
Gasoline and Other25%18%23%18%
v3.26.1
Debt and Credit Arrangements (Tables)
 6 Months Ended
Aug. 01, 2026
Debt Disclosure [Abstract]  
Summary of Debt
The following table summarizes the Company’s debt (in thousands):
August 1, 2026January 31, 2026August 2, 2025
ABL Revolving Facility$230,000 $120,000 $105,000 
First Lien Term Loan400,000 400,000 400,000 
Unamortized original issue discount and debt issuance costs(755)(901)(1,047)
Less: Short-term debt(230,000)(120,000)(105,000)
Long-term debt$399,245 $399,099 $398,953 
v3.26.1
Stock Incentive Plans (Tables)
 6 Months Ended
Aug. 01, 2026
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Award Activity
The following table summarizes the Company’s stock award activity during the twenty-six weeks ended August 1, 2026 (shares in thousands):
Stock OptionsRestricted StockRestricted Stock UnitsPerformance Stock Units
SharesWeighted-
Average
Exercise
Price		SharesWeighted-
Average
Grant
Date Fair
Value		SharesWeighted-
Average
Grant
Date Fair
Value
Shares(a)
Weighted-
Average
Grant
Date Fair
Value
Outstanding, January 31, 2026522 $20.52 93 $78.15 480 $95.76 507 $84.56 
Granted (b)
— — — — 345 93.21 250 94.27 
Forfeited/canceled (c)
— — (1)76.07 (19)97.18 (14)79.97 
Exercised/vested(78)17.52 (81)76.07 (193)92.62 (211)64.58 
Outstanding, August 1, 2026444 $21.04 11 $92.95 613 $95.27 532 $93.63 
(a) Shares outstanding reflect a 100% payout. However, the actual payout for the remaining performance stock unit awards granted in fiscal year 2021 is expected to be 200%, and the actual payout for performance stock unit awards granted in fiscal year 2023, which vested in the first quarter of fiscal year 2026, was 92%. Actual payout for the performance stock unit awards granted in each of fiscal years 2024, 2025, and 2026, which vest in fiscal years 2027, 2028, and 2029, respectively, could be below 100% or up to 300%.
(b) Includes 38 incremental performance stock units granted in fiscal year 2021 with a weighted-average grant date fair value of $44.04, that vested in fiscal year 2026 at greater than 100% of target payout based on performance.
(c) Includes 12 performance stock units granted in fiscal year 2023 with a weighted-average grant date fair value of $76.07, that vested in fiscal year 2026 at less than 100% of target payout based on performance.
v3.26.1
Fair Value Measurements (Tables)
 6 Months Ended
Aug. 01, 2026
Fair Value Disclosures [Abstract]  
Summary of Carrying Amount and Fair Value of Debt
The gross carrying amount and fair value of the Company’s debt at August 1, 2026 are as follows (in thousands):
Carrying AmountFair Value
ABL Revolving Facility$230,000 $230,000 
First Lien Term Loan400,000 401,332 
Total Debt$630,000 $631,332 
The gross carrying amount and fair value of the Company’s debt at January 31, 2026 are as follows (in thousands):
Carrying AmountFair Value
ABL Revolving Facility$120,000 $120,000 
First Lien Term Loan400,000 404,252 
Total Debt$520,000 $524,252 
The gross carrying amount and fair value of the Company’s debt at August 2, 2025 are as follows (in thousands):
Carrying AmountFair Value
ABL Revolving Facility$105,000 $105,000 
First Lien Term Loan400,000 402,000 
Total Debt$505,000 $507,000 
v3.26.1
Earnings Per Share (Tables)
 6 Months Ended
Aug. 01, 2026
Earnings Per Share [Abstract]  
Summary of Basic and Diluted Weighted-average Shares of Common Stock Outstanding
The table below reconciles basic weighted-average shares of common stock outstanding to diluted weighted-average shares of common stock outstanding for the thirteen and twenty-six weeks ended August 1, 2026 and August 2, 2025 (in thousands):
Thirteen Weeks EndedTwenty-six Weeks Ended
August 1, 2026August 2, 2025August 1, 2026August 2, 2025
Weighted-average shares of common stock outstanding, used for basic computation127,208 131,799 127,929 131,684 
Plus: Incremental shares of potentially dilutive securities530 718 632 949 
Weighted-average shares of common stock and dilutive potential shares of common stock outstanding127,738 132,517 128,561 132,633 
Summary of Awards Excluded from Computation of Diluted Earnings
The table below summarizes awards that were excluded from the computation of diluted earnings for the thirteen and twenty-six weeks ended August 1, 2026 and August 2, 2025, as their inclusion would have been anti-dilutive (in thousands):
Thirteen Weeks EndedTwenty-six Weeks Ended
August 1, 2026August 2, 2025August 1, 2026August 2, 2025
Stock-based awards263 168 255 128 
v3.26.1
Segment Reporting (Tables)
 6 Months Ended
Aug. 01, 2026
Segment Reporting [Abstract]  
Summary of Operating Financial Results of Reportable Segment
The following table provides the operating financial results of our reportable segment (in thousands):
Thirteen Weeks EndedTwenty-six Weeks Ended
August 1, 2026August 2, 2025August 1, 2026August 2, 2025
Total revenues$6,226,579 $5,380,240 $11,888,079 $10,533,723 
Less: significant and other segment expenses
Merchandise cost of sales (a)
3,763,786 3,528,423 7,283,989 6,892,208 
Selling, general and administrative expenses (b)
857,642 789,645 1,677,630 1,555,499 
Other segment expenses (c)
1,431,284 911,467 2,609,867 1,785,543 
Net income$173,867 $150,705 $316,593 $300,473 
(a)
Merchandise cost of sales represents those expenses related to the sales of merchandise including inventory costs and distribution costs, and excludes costs related to gasoline and membership fee income.
(b)
Selling, general and administrative expenses is inclusive of pre-opening expenses, stock-based compensation, and other corporate expenses.
(c)
Other segment expenses primarily consists of other costs of revenues, including gas, as well as interest expense and income tax expense.
v3.26.1
Description of Business (Details)
Aug. 01, 2026
state
warehouse_club
gas_station
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Number of stores | warehouse_club 267
Number of gas stations | gas_station 206
Number of states in which entity operates | state 22
v3.26.1
Revenue Recognition - Narrative (Details)
 6 Months Ended
Aug. 01, 2026
USD ($)
delivery
$ / gal
Membership  
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]  
Percentage of cash back earned 2.00%
Maximum annual cash back amount | $ $ 500
Discount on gasoline (in USD per gallon) | $ / gal 0.05
Number of free same-day deliveries | delivery 2
Cash back in the form of electronic awards issued | $ $ 10
Membership fee term 12 months
Credit card program  
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]  
Percentage of cash back earned 5.00%
Discount on gasoline (in USD per gallon) | $ / gal 0.15
Number of free same-day deliveries | delivery 2
v3.26.1
Revenue Recognition - Deferred Revenue Balance (Details) - USD ($)
$ in Thousands
Aug. 01, 2026
Jan. 31, 2026
Aug. 02, 2025
Outstanding performance obligations, excluding earned award dollars      
Disaggregation of Revenue [Line Items]      
Total deferred revenue $ 329,073 $ 283,760 $ 302,873
Total rewards programs      
Disaggregation of Revenue [Line Items]      
Current: 9,219 13,482 10,440
Royalty revenue      
Disaggregation of Revenue [Line Items]      
Current: 6,870 10,572 7,297
Co-brand initiatives      
Disaggregation of Revenue [Line Items]      
Current: 2,349 2,910 3,143
Long-term: 1,959 2,324 2,154
Membership      
Disaggregation of Revenue [Line Items]      
Current: 291,015 240,643 267,382
Gift card program      
Disaggregation of Revenue [Line Items]      
Current: 17,162 18,252 16,274
E-commerce sales      
Disaggregation of Revenue [Line Items]      
Current: $ 9,718 $ 9,059 $ 6,623
v3.26.1
Revenue Recognition - Deferred Revenue Rollforward (Details) - Earned award dollars - USD ($)
$ in Thousands
 6 Months Ended
Aug. 01, 2026
Aug. 02, 2025
Contract With Customer, Liability Roll Forward [Roll Forward]    
Deferred revenue balance, beginning of period $ 71,427 $ 57,474
Rewards earned 192,992 182,567
Revenue recognized on rewards (188,196) (174,522)
Deferred revenue balance, end of period $ 76,223 $ 65,519
v3.26.1
Revenue Recognition - Revenue Recognized (Details) - USD ($)
$ in Thousands
 6 Months Ended
Aug. 01, 2026
Aug. 02, 2025
Disaggregation of Revenue [Line Items]    
Total revenue $ 209,386 $ 207,663
Total rewards programs    
Disaggregation of Revenue [Line Items]    
Total revenue 12,319 11,896
Royalty revenue    
Disaggregation of Revenue [Line Items]    
Total revenue 10,572 9,972
Co-brand initiatives    
Disaggregation of Revenue [Line Items]    
Total revenue 1,747 1,924
Membership    
Disaggregation of Revenue [Line Items]    
Total revenue 184,148 184,185
Gift card program    
Disaggregation of Revenue [Line Items]    
Total revenue 3,860 3,743
E-commerce sales    
Disaggregation of Revenue [Line Items]    
Total revenue $ 9,059 $ 7,839
v3.26.1
Revenue Recognition - Percentage of Net Sales Disaggregated by Category (Details)
 3 Months Ended 6 Months Ended
Aug. 01, 2026
Aug. 02, 2025
Aug. 01, 2026
Aug. 02, 2025
Perishables, Grocery, and Sundries        
Disaggregation of Revenue [Line Items]        
Net sales percentage 65.00% 71.00% 67.00% 72.00%
General Merchandise and Services        
Disaggregation of Revenue [Line Items]        
Net sales percentage 10.00% 11.00% 10.00% 10.00%
Gasoline and Other        
Disaggregation of Revenue [Line Items]        
Net sales percentage 25.00% 18.00% 23.00% 18.00%
v3.26.1
Debt and Credit Arrangements - Debt Components (Details) - USD ($)
$ in Thousands
Aug. 01, 2026
Jan. 31, 2026
Aug. 02, 2025
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]      
Carrying amount $ 630,000 $ 520,000 $ 505,000
Unamortized original issue discount and debt issuance costs (755) (901) (1,047)
Less: Short-term debt (230,000) (120,000) (105,000)
Long-term debt 399,245 399,099 398,953
ABL Revolving Facility      
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]      
Carrying amount 230,000 120,000 105,000
First Lien Term Loan      
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]      
Carrying amount $ 400,000 $ 400,000 $ 400,000
v3.26.1
Debt and Credit Arrangements - Narrative (Details) - USD ($)
$ in Thousands
Nov. 04, 2024
Nov. 03, 2024
Jul. 28, 2022
Aug. 01, 2026
Jan. 31, 2026
Aug. 02, 2025
Debt Instrument [Line Items]            
Amount outstanding       $ 630,000 $ 520,000 $ 505,000
ABL Revolving Facility            
Debt Instrument [Line Items]            
Amount outstanding       230,000 120,000 105,000
First Lien Term Loan            
Debt Instrument [Line Items]            
Amount outstanding       400,000 $ 400,000 $ 400,000
Revolving Credit Facility | ABL Revolving Facility            
Debt Instrument [Line Items]            
Maximum borrowing capacity     $ 1,200,000      
Commitment fee percentage     0.20%      
Amount outstanding       $ 230,000    
Interest rate at end of period       4.83% 4.77% 5.45%
Unused capacity       $ 962,300    
Revolving Credit Facility | ABL Revolving Facility | Term One            
Debt Instrument [Line Items]            
Term of borrowing     1 month      
Revolving Credit Facility | ABL Revolving Facility | Term Two            
Debt Instrument [Line Items]            
Term of borrowing     3 months      
Revolving Credit Facility | ABL Revolving Facility | Term Three            
Debt Instrument [Line Items]            
Term of borrowing     6 months      
Revolving Credit Facility | ABL Revolving Facility | Term Four            
Debt Instrument [Line Items]            
Term of borrowing     12 months      
Revolving Credit Facility | ABL Revolving Facility | Minimum | SOFR            
Debt Instrument [Line Items]            
Basis spread on variable rate     1.00%      
Revolving Credit Facility | ABL Revolving Facility | Minimum | Base Rate            
Debt Instrument [Line Items]            
Basis spread on variable rate     0.00%      
Revolving Credit Facility | ABL Revolving Facility | Maximum | SOFR            
Debt Instrument [Line Items]            
Basis spread on variable rate     1.25%      
Revolving Credit Facility | ABL Revolving Facility | Maximum | Base Rate            
Debt Instrument [Line Items]            
Basis spread on variable rate     0.25%      
Letter of Credit | ABL Revolving Facility            
Debt Instrument [Line Items]            
Amount outstanding       7,700    
Term Loan | First Lien Term Loan | Line of Credit            
Debt Instrument [Line Items]            
Basis spread on variable rate 1.75% 2.00%        
Amount outstanding       $ 400,000 $ 400,000 $ 400,000
Aggregate principal amount $ 400,000          
Net leverage ratio       3.50    
Net leverage ratio, actual (did not exceed)       3.50    
Effective interest rate       5.41% 5.43% 5.88%
v3.26.1
Stock Incentive Plans - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Aug. 01, 2026
Aug. 02, 2025
Aug. 01, 2026
Aug. 02, 2025
Jun. 14, 2018
Jun. 13, 2018
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]            
Stock-based compensation expense $ 15.5 $ 13.9 $ 28.7 $ 24.6    
The 2018 Plan            
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]            
Shares authorized for issuance (in shares)           13,148,058
Shares available for future issuance (in shares) 4,004,018   4,004,018      
Employee Stock Purchase Plan            
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]            
Shares available for future issuance (in shares) 3,578,686   3,578,686      
Stock-based compensation expense $ 0.5 $ 0.4 $ 1.1 $ 1.0    
Shares reserved for issuance, base (in shares)         973,014  
Shares reserved for issuance, annual increase (in shares)         486,507  
Shares reserved for issuance, annual increase percentage         0.50%  
v3.26.1
Stock Incentive Plans - Stock Award Activity (Details)
shares in Thousands
 6 Months Ended
Aug. 01, 2026
$ / shares
shares
Stock Options  
Shares  
Outstanding, beginning of period (in shares) | shares 522
Granted (in shares) | shares 0
Forfeited/canceled (in shares) | shares 0
Exercised/vested (in shares) | shares (78)
Outstanding, end of period (in shares) | shares 444
Weighted- Average Exercise Price  
Outstanding, beginning of period (in USD per share) | $ / shares $ 20.52
Granted (in USD per share) | $ / shares 0
Forfeited/canceled (in USD per share) | $ / shares 0
Exercised/vested (in USD per share) | $ / shares 17.52
Outstanding, end of period (in USD per share) | $ / shares $ 21.04
Restricted Stock  
Shares  
Outstanding, beginning of period (in shares) | shares 93
Granted (in shares) | shares 0
Forfeited/canceled (in shares) | shares (1)
Exercised/vested (in shares) | shares (81)
Outstanding, end of period (in shares) | shares 11
Weighted- Average Grant Date Fair Value  
Outstanding, beginning of period (in USD per share) | $ / shares $ 78.15
Granted (in USD per share) | $ / shares 0
Forfeited/canceled (in USD per share) | $ / shares 76.07
Exercised/vested (in USD per share) | $ / shares 76.07
Outstanding, end of period (in USD per share) | $ / shares $ 92.95
Restricted Stock Units  
Shares  
Outstanding, beginning of period (in shares) | shares 480
Granted (in shares) | shares 345
Forfeited/canceled (in shares) | shares (19)
Exercised/vested (in shares) | shares (193)
Outstanding, end of period (in shares) | shares 613
Weighted- Average Grant Date Fair Value  
Outstanding, beginning of period (in USD per share) | $ / shares $ 95.76
Granted (in USD per share) | $ / shares 93.21
Forfeited/canceled (in USD per share) | $ / shares 97.18
Exercised/vested (in USD per share) | $ / shares 92.62
Outstanding, end of period (in USD per share) | $ / shares $ 95.27
Performance Stock Units  
Shares  
Outstanding, beginning of period (in shares) | shares 507
Granted (in shares) | shares 250
Forfeited/canceled (in shares) | shares (14)
Exercised/vested (in shares) | shares (211)
Outstanding, end of period (in shares) | shares 532
Weighted- Average Grant Date Fair Value  
Outstanding, beginning of period (in USD per share) | $ / shares $ 84.56
Granted (in USD per share) | $ / shares 94.27
Forfeited/canceled (in USD per share) | $ / shares 79.97
Exercised/vested (in USD per share) | $ / shares 64.58
Outstanding, end of period (in USD per share) | $ / shares $ 93.63
Estimated payout (as a percent) 100.00%
Performance Stock Units | Granted in 2021  
Weighted- Average Grant Date Fair Value  
Estimated payout (as a percent) 200.00%
Performance Stock Units | Granted In 2023  
Weighted- Average Grant Date Fair Value  
Actual payout (as a percent) 92.00%
Performance Stock Units | Minimum | Granted in 2024  
Weighted- Average Grant Date Fair Value  
Estimated payout (as a percent) 100.00%
Performance Stock Units | Minimum | Granted in 2025  
Weighted- Average Grant Date Fair Value  
Estimated payout (as a percent) 100.00%
Performance Stock Units | Minimum | Granted in 2026  
Weighted- Average Grant Date Fair Value  
Estimated payout (as a percent) 100.00%
Performance Stock Units | Maximum | Granted in 2024  
Weighted- Average Grant Date Fair Value  
Estimated payout (as a percent) 300.00%
Performance Stock Units | Maximum | Granted in 2025  
Weighted- Average Grant Date Fair Value  
Estimated payout (as a percent) 300.00%
Performance Stock Units | Maximum | Granted in 2026  
Weighted- Average Grant Date Fair Value  
Estimated payout (as a percent) 300.00%
Performance Stock, Vested at Greater than 100% of Target | Granted in 2021  
Shares  
Exercised/vested (in shares) | shares (38)
Weighted- Average Grant Date Fair Value  
Exercised/vested (in USD per share) | $ / shares $ 44.04
Performance target (greater than) 100.00%
Performance Stock, Vested at Greater than 100% of Target | Granted In 2023  
Shares  
Exercised/vested (in shares) | shares (12)
Weighted- Average Grant Date Fair Value  
Exercised/vested (in USD per share) | $ / shares $ 76.07
Performance target (greater than) 100.00%
v3.26.1
Treasury Shares and Share Repurchase Program (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Aug. 01, 2026
May 02, 2026
Aug. 02, 2025
May 03, 2025
Aug. 01, 2026
Aug. 02, 2025
Nov. 18, 2024
Equity, Class of Treasury Stock [Line Items]              
Shares reacquired to satisfy tax withholding obligations (in shares) 1,278   3,670   222,350 313,772  
Shares reacquired to satisfy tax withholding obligations $ 100   $ 400   $ 21,100 $ 35,500  
Shares repurchased $ 124,269 $ 227,531 $ 41,590 $ 41,305      
Retirement of treasury stock (in shares) 1,385,556   0   3,720,628    
Retirement of treasury stock $ 0 $ 0          
Treasury Stock              
Equity, Class of Treasury Stock [Line Items]              
Shares repurchased (in shares) 1,386,000 2,335,000 379,000 365,000      
Shares repurchased $ 124,269 $ 227,531 $ 41,590 $ 41,305      
Retirement of treasury stock (in shares) 1,386,000 2,335,000          
Retirement of treasury stock $ 124,269 $ 227,531     $ 351,800    
Additional Paid-in Capital              
Equity, Class of Treasury Stock [Line Items]              
Retirement of treasury stock $ (124,255) $ (227,508)     $ (351,800)    
2024 Repurchase Program              
Equity, Class of Treasury Stock [Line Items]              
Share repurchase program, amount authorized             $ 1,000,000
Shares repurchased (in shares) 1,384,278   375,000   3,498,278 430,000  
Shares repurchased $ 124,100   $ 41,200   $ 330,700 $ 47,400  
Share repurchase program, amount remaining available $ 422,100       $ 422,100    
v3.26.1
Income Taxes (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended 12 Months Ended
Aug. 01, 2026
Aug. 02, 2025
Aug. 01, 2026
Aug. 02, 2025
Jan. 30, 2027
Effective Income Tax Rate Reconciliation [Line Items]          
Effective tax rate 27.30% 26.90% 27.20% 24.60%  
Income taxes paid, purchased transferable credits     $ 98.0    
Forecast          
Effective Income Tax Rate Reconciliation [Line Items]          
Effective tax rate         27.80%
v3.26.1
Fair Value Measurements (Details) - USD ($)
$ in Thousands
Aug. 01, 2026
Jan. 31, 2026
Aug. 02, 2025
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Carrying Amount $ 630,000 $ 520,000 $ 505,000
Fair Value 631,332 524,252 507,000
ABL Revolving Facility      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Carrying Amount 230,000 120,000 105,000
Fair Value 230,000 120,000 105,000
First Lien Term Loan      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Carrying Amount 400,000 400,000 400,000
Fair Value $ 401,332 $ 404,252 $ 402,000
v3.26.1
Earnings Per Share - Basic and Diluted Weighted-Average Shares of Common Stock Outstanding (Details) - shares
shares in Thousands
 3 Months Ended 6 Months Ended
Aug. 01, 2026
Aug. 02, 2025
Aug. 01, 2026
Aug. 02, 2025
Earnings Per Share [Abstract]        
Weighted-average shares of common stock outstanding, used for basic computation (in shares) 127,208 131,799 127,929 131,684
Plus: Incremental shares of potentially dilutive securities (in shares) 530 718 632 949
Weighted-average shares of common stock and dilutive potential shares of common stock outstanding (in shares) 127,738 132,517 128,561 132,633
v3.26.1
Earnings Per Share - Awards Excluded from Computation of Diluted Earnings (Details) - shares
shares in Thousands
 3 Months Ended 6 Months Ended
Aug. 01, 2026
Aug. 02, 2025
Aug. 01, 2026
Aug. 02, 2025
Stock-based awards        
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]        
Awards excluded from computation of diluted earnings per share (in shares) 263 168 255 128
v3.26.1
Segment Reporting (Details)
$ in Thousands
 3 Months Ended 6 Months Ended
Aug. 01, 2026
USD ($)
May 02, 2026
USD ($)
Aug. 02, 2025
USD ($)
May 03, 2025
USD ($)
Aug. 01, 2026
USD ($)
segment
Aug. 02, 2025
USD ($)
Segment Reporting [Abstract]            
Number of operating segments | segment         1  
Number of reportable segments | segment         1  
Segment Reporting [Line Items]            
Total revenues $ 6,226,579   $ 5,380,240   $ 11,888,079 $ 10,533,723
Less: significant and other segment expenses            
Net income 173,867 $ 142,726 150,705 $ 149,768 316,593 300,473
Reportable Segment            
Segment Reporting [Line Items]            
Total revenues 6,226,579   5,380,240   11,888,079 10,533,723
Less: significant and other segment expenses            
Merchandise cost of sales 3,763,786   3,528,423   7,283,989 6,892,208
Selling, general & administrative expenses 857,642   789,645   1,677,630 1,555,499
Other segment expenses 1,431,284   911,467   2,609,867 1,785,543
Net income $ 173,867   $ 150,705   $ 316,593 $ 300,473
v3.26.1
Leases (Details)
$ in Thousands
 1 Months Ended 6 Months Ended
Jul. 31, 2026
USD ($)
property
Aug. 01, 2026
USD ($)
option
Aug. 02, 2025
USD ($)
Jan. 31, 2026
USD ($)
Lessee, Lease, Description [Line Items]        
Proceeds from assignment of purchase option (see Note 12) $ 122,100 $ 122,100 $ 0  
Sale and leaseback transaction gain $ 10,600      
Term of contract 25 years      
Number of renewal options | option   4    
Renewal term 5 years      
Operating lease right-of-use assets, net $ 93,600 $ 2,061,412 $ 2,054,621 $ 1,976,013
Operating lease, liability $ 93,600      
Sale leaseback transaction, number of properties | property 2      
Disposal Group, Held-for-Sale or Disposed of by Sale, Not Discontinued Operations        
Lessee, Lease, Description [Line Items]        
Assets held for sale, property and equipment   $ 44,900