BJ'S WHOLESALE CLUB HOLDINGS, INC., 10-Q filed on 11/26/2025
Quarterly Report
v3.25.3
Cover - shares
 9 Months Ended
Nov. 01, 2025
Nov. 20, 2025
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Nov. 01, 2025  
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 $0.01  
Trading Symbol BJ  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   130,847,715
Entity Central Index Key 0001531152  
Amendment Flag false  
Current Fiscal Year End Date --01-31  
Document Fiscal Period Focus Q3  
Document Fiscal Year Focus 2025  
v3.25.3
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Nov. 01, 2025
Feb. 01, 2025
Nov. 02, 2024
Current assets:      
Cash and cash equivalents $ 45,119 $ 28,272 $ 33,873
Accounts receivable, net 299,250 277,326 266,718
Merchandise inventories 1,693,805 1,508,988 1,720,011
Prepaid expenses and other current assets 90,472 64,374 76,491
Total current assets 2,128,646 1,878,960 2,097,093
Operating lease right-of-use assets, net 2,015,769 2,100,257 2,114,592
Property and equipment, net 2,227,460 1,897,604 1,832,397
Goodwill 1,008,816 1,008,816 1,008,816
Intangibles, net 96,874 101,109 102,739
Deferred income taxes 5,874 6,975 5,010
Other assets 62,361 71,584 55,575
Total assets 7,545,800 7,065,305 7,216,222
Current liabilities:      
Short-term debt 200,000 175,000 245,000
Current portion of operating lease liabilities 177,928 192,528 163,292
Accounts payable 1,376,057 1,253,512 1,420,425
Accrued expenses and other current liabilities 945,730 913,042 913,307
Total current liabilities 2,699,715 2,534,082 2,742,024
Long-term operating lease liabilities 1,920,153 2,013,962 2,024,689
Long-term debt 399,026 398,807 398,663
Deferred income taxes 69,260 59,659 65,531
Other non-current liabilities 285,736 211,341 223,144
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, 149,835 shares issued and 130,848 outstanding at November 1, 2025; 148,965 shares issued and 131,638 outstanding at February 1, 2025; and 148,776 shares issued and 132,094 outstanding at November 2, 2024 1,498 1,489 1,488
Additional paid-in capital 1,122,485 1,079,445 1,054,912
Retained earnings 2,155,171 1,702,648 1,579,986
Accumulated other comprehensive income 231 231 501
Treasury stock, at cost, 18,987 shares at November 1, 2025; 17,327 shares at February 1, 2025; and 16,682 shares at November 2, 2024 (1,107,475) (936,359) (874,716)
Total stockholders’ equity 2,171,910 1,847,454 1,762,171
Total liabilities and stockholders’ equity $ 7,545,800 $ 7,065,305 $ 7,216,222
v3.25.3
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares
shares in Thousands
Nov. 01, 2025
Feb. 01, 2025
Nov. 02, 2024
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) 149,835 148,965 148,776
Common stock, outstanding (in shares) 130,848 131,638 132,094
Treasury stock (in shares) 18,987 17,327 16,682
v3.25.3
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Nov. 01, 2025
Nov. 02, 2024
Nov. 01, 2025
Nov. 02, 2024
Total revenues $ 5,348,163 $ 5,099,364 $ 15,881,886 $ 15,223,278
Cost of sales 4,333,826 4,123,888 12,891,875 12,407,836
Selling, general and administrative expenses 788,151 733,580 2,335,389 2,205,674
Pre-opening expenses 7,835 12,513 16,096 15,955
Operating income 218,351 229,383 638,526 593,813
Interest expense, net 10,309 12,593 31,801 39,299
Income before income taxes 208,042 216,790 606,725 554,514
Provision for income taxes 55,992 61,042 154,202 142,759
Net income $ 152,050 $ 155,748 $ 452,523 $ 411,755
Income per share attributable to common stockholders—basic (in USD per share) $ 1.16 $ 1.18 $ 3.44 $ 3.11
Income per share attributable to common stockholders—diluted (in USD per share) $ 1.15 $ 1.17 $ 3.42 $ 3.08
Weighted-average shares of common stock outstanding:        
Basic (in shares) 131,194 132,083 131,520 132,304
Diluted (in shares) 131,922 133,333 132,396 133,764
Other comprehensive income:        
Total other comprehensive income $ 0 $ 0 $ 0 $ 0
Total comprehensive income 152,050 155,748 452,523 411,755
Net sales        
Total revenues 5,221,866 4,984,385 15,511,867 14,883,793
Membership fee income        
Total revenues $ 126,297 $ 114,979 $ 370,019 $ 339,485
v3.25.3
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($)
shares in Thousands, $ 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. 03, 2024   147,544        
Balance at beginning of period at Feb. 03, 2024 $ 1,458,851 $ 1,475 $ 1,006,409 $ 1,168,231 $ 501 $ (717,765)
Treasury stock at beginning of period (in shares) at Feb. 03, 2024           (14,776)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 111,019     111,019    
Common stock issued under stock incentive plans (in shares)   703        
Common stock issued under stock incentive plans 0 $ 7 (7)      
Stock-based compensation expense 8,590   8,590      
Exercise of stock options 5,865   5,865      
Acquisition of treasury stock (in shares)           (763)
Acquisition of treasury stock (56,905)         $ (56,905)
Balance at end of period (in shares) at May. 04, 2024   148,247        
Balance at end of period at May. 04, 2024 1,527,420 $ 1,482 1,020,857 1,279,250 501 $ (774,670)
Treasury stock at end of period (in shares) at May. 04, 2024           (15,539)
Balance at beginning of period (in shares) at Feb. 03, 2024   147,544        
Balance at beginning of period at Feb. 03, 2024 1,458,851 $ 1,475 1,006,409 1,168,231 501 $ (717,765)
Treasury stock at beginning of period (in shares) at Feb. 03, 2024           (14,776)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income $ 411,755          
Balance at end of period (in shares) at Nov. 02, 2024 132,094 148,776        
Balance at end of period at Nov. 02, 2024 $ 1,762,171 $ 1,488 1,054,912 1,579,986 501 $ (874,716)
Treasury stock at end of period (in shares) at Nov. 02, 2024 (16,682)         (16,682)
Balance at beginning of period (in shares) at May. 04, 2024   148,247        
Balance at beginning of period at May. 04, 2024 $ 1,527,420 $ 1,482 1,020,857 1,279,250 501 $ (774,670)
Treasury stock at beginning of period (in shares) at May. 04, 2024           (15,539)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 144,988     144,988    
Common stock issued under stock incentive plans (in shares)   450        
Common stock issued under stock incentive plans 0 $ 5 (5)      
Common stock issued under ESPP (in shares)   60        
Common stock issued under ESPP 3,411 $ 1 3,410      
Stock-based compensation expense 10,336   10,336      
Exercise of stock options 9,598   9,598      
Acquisition of treasury stock (in shares)           (452)
Acquisition of treasury stock (40,846)         $ (40,846)
Balance at end of period (in shares) at Aug. 03, 2024   148,757        
Balance at end of period at Aug. 03, 2024 1,654,907 $ 1,488 1,044,196 1,424,238 501 $ (815,516)
Treasury stock at end of period (in shares) at Aug. 03, 2024           (15,991)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 155,748     155,748    
Common stock issued under stock incentive plans (in shares)   19        
Stock-based compensation expense 10,714   10,714      
Exercise of stock options 2   2      
Acquisition of treasury stock (in shares)           (691)
Acquisition of treasury stock $ (59,200)         $ (59,200)
Balance at end of period (in shares) at Nov. 02, 2024 132,094 148,776        
Balance at end of period at Nov. 02, 2024 $ 1,762,171 $ 1,488 1,054,912 1,579,986 501 $ (874,716)
Treasury stock at end of period (in shares) at Nov. 02, 2024 (16,682)         (16,682)
Balance at beginning of period (in shares) at Feb. 01, 2025 131,638 148,965        
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)         (17,327)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income $ 149,768     149,768    
Common stock issued under stock incentive plans (in shares)   778        
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)
Acquisition of treasury stock (41,305)         $ (41,305)
Balance at end of period (in shares) at May. 03, 2025   149,743        
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)
Balance at beginning of period (in shares) at Feb. 01, 2025 131,638 148,965        
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)         (17,327)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income $ 452,523          
Balance at end of period (in shares) at Nov. 01, 2025 130,848 149,835        
Balance at end of period at Nov. 01, 2025 $ 2,171,910 $ 1,498 1,122,485 2,155,171 231 $ (1,107,475)
Treasury stock at end of period (in shares) at Nov. 01, 2025 (18,987)         (18,987)
Balance at beginning of period (in shares) at May. 03, 2025   149,743        
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)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 150,705     150,705    
Common stock issued under stock incentive plans (in shares)   18        
Common stock issued under ESPP (in shares)   59        
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)
Acquisition of treasury stock (41,590)         $ (41,590)
Balance at end of period (in shares) at Aug. 02, 2025   149,820        
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)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 152,050     152,050    
Common stock issued under stock incentive plans (in shares)   15        
Stock-based compensation expense 8,987   8,987      
Acquisition of treasury stock (in shares)           (916)
Acquisition of treasury stock $ (88,221)         $ (88,221)
Balance at end of period (in shares) at Nov. 01, 2025 130,848 149,835        
Balance at end of period at Nov. 01, 2025 $ 2,171,910 $ 1,498 $ 1,122,485 $ 2,155,171 $ 231 $ (1,107,475)
Treasury stock at end of period (in shares) at Nov. 01, 2025 (18,987)         (18,987)
v3.25.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Nov. 01, 2025
Nov. 02, 2024
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 452,523 $ 411,755
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 213,916 194,238
Amortization of debt issuance costs and accretion of original issue discount 818 830
Stock-based compensation expense 33,586 29,640
Deferred income tax provision (benefit) 10,702 (10,181)
Changes in operating leases and other non-cash items (18,509) 10,803
Increase (decrease) in cash due to changes in:    
Accounts receivable, net (18,930) (41,021)
Merchandise inventories (184,817) (265,189)
Prepaid expenses and other current assets (25,366) (8,279)
Other assets (229) (12,351)
Accounts payable 122,545 237,144
Accrued expenses and other current liabilities 31,121 81,546
Other non-current liabilities 21,741 20
Net cash provided by operating activities 639,101 628,955
CASH FLOWS FROM INVESTING ACTIVITIES    
Additions to property and equipment, net of disposals (500,948) (427,553)
Proceeds from sale-leaseback transactions 2,995 0
Other investing activities (3,232) 0
Net cash used in investing activities (501,185) (427,553)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from revolving lines of credit 376,000 605,000
Payments on revolving lines of credit (351,000) (679,000)
Net cash received from stock option exercises 5,014 15,465
Net cash received from ESPP 4,449 3,411
Acquisition of treasury stock (170,209) (158,041)
Proceeds from financing obligations 21,205 14,917
Other financing activities (6,528) (5,330)
Net cash used in financing activities (121,069) (203,578)
Net increase (decrease) in cash and cash equivalents 16,847 (2,176)
Cash and cash equivalents at beginning of period 28,272 36,049
Cash and cash equivalents at end of period 45,119 33,873
Supplemental cash flow information:    
Interest paid 24,255 34,034
Income taxes paid 149,827 144,908
Operating lease liabilities arising from obtaining right-of-use assets and other non-cash lease-related operating items 64,590 116,173
Non-cash financing and investing activities:    
Finance lease liabilities arising from obtaining right-of-use assets 24,170 758
Receivables arising from failed sale-leaseback financing obligations 2,994 0
Property additions included in accrued expenses 53,219 52,066
Treasury stock acquisitions included in accrued expenses $ 907 $ 1,509
v3.25.3
Description of Business
 9 Months Ended
Nov. 01, 2025
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 November 1, 2025, BJ's operated 256 warehouse clubs and 192 gas stations in 21 states.
v3.25.3
Summary of Significant Accounting Policies
 9 Months Ended
Nov. 01, 2025
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 February 1, 2025 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 sales and operating income 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 2024, as filed with the Securities and Exchange Commission on March 14, 2025.
(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 November 1, 2025 and November 2, 2024 are referred to herein as the “third quarter of fiscal year 2025” and the “third quarter of fiscal year 2024,” respectively. The thirty-nine week periods ended November 1, 2025 and November 2, 2024 are referred to herein as the “thirty-nine weeks ended November 1, 2025” and the “thirty-nine weeks ended November 2, 2024,” respectively. Operating results for the thirty-nine week period ended November 1, 2025 are not necessarily indicative of the results that may be expected for the 52-week fiscal year ending January 31, 2026.
(c) Recent 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 2024. 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.
In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (ASU) 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. ASU 2023-09 requires public companies to disclose, on an annual basis, a tabular tax rate reconciliation, using both percentages and amounts, broken out into specific categories with certain reconciling items at or above 5% of the statutory tax, further broken out by nature and/or jurisdiction. ASU 2023-09 requires all entities to disclose, on an annual basis, the amount of income taxes paid (net of refunds received), disaggregated between federal, state/local and foreign, and amounts paid to an individual jurisdiction when 5% or more of the total income taxes paid. The disclosure requirements are effective for fiscal years beginning after December 15, 2024, and 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 new pronouncement does not have an impact on the Company's consolidated balance sheet, statement of operations and comprehensive income, statement of stockholders' equity, or statement of cash flows. The Company continues to evaluate the impact of enhanced disclosure requirements on the notes to the consolidated financial statements, including the method of adoption. The Company will adopt this new pronouncement as part of its annual report as of and for the fiscal year ended January 31, 2026.
In November 2024, the FASB issued 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 that this guidance will have on its financial statement disclosures.
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 amends the recognition and disclosure framework for internal-use software costs, removing the previous “development stage” model and introducing a more judgment-based approach 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 fiscal years beginning after December 15, 2027. 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.
v3.25.3
Revenue Recognition
 9 Months Ended
Nov. 01, 2025
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. Sales tax is recorded as a liability at the point-of-sale. 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.
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. The Company recognizes royalty revenue related to the BJ's One and BJ's One+ credit card programs based upon actual customer activities, such as reward redemptions. 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.
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 12 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 amount of the face 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):
November 1, 2025February 1, 2025November 2, 2024
Current:
   Rewards programs:
   Royalty revenue$7,959 $9,972 $5,898 
   Co-brand initiatives2,537 4,082 4,269 
   Total rewards programs10,496 14,054 10,167 
    Membership264,548 253,262 236,536 
    Gift card program16,360 16,778 15,044 
    E-commerce sales7,955 7,839 6,383 
Long-term:
    Rewards programs:
   Co-brand initiatives1,796 3,139 4,068 
      Total deferred revenue$301,155 $295,072 $272,198 
The following table presents deferred revenue activity related to earned rewards (in thousands):
Thirty-nine Weeks Ended
November 1, 2025November 2, 2024
Earned rewards balance, beginning of period$57,474 $49,135 
Rewards earned276,180 242,566 
Revenue recognized on rewards(267,048)(232,293)
Earned rewards balance, end of period$66,606 $59,408 
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 February 1, 2025 and February 3, 2024 (in thousands):
Thirty-nine Weeks Ended
November 1, 2025November 2, 2024
Rewards programs:
Royalty revenue$9,972 $4,593 
Co-brand initiatives2,888 2,616 
Total rewards programs12,860 7,209 
Membership233,579 213,499 
Gift card program4,001 4,517 
E-commerce sales7,839 6,757 
Total revenue$258,279 $231,982 
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 EndedThirty-nine Weeks Ended
November 1, 2025November 2, 2024November 1, 2025November 2, 2024
Perishables, Grocery, and Sundries72%72%72%71%
General Merchandise and Services10%10%10%10%
Gasoline and Other18%18%18%19%
v3.25.3
Debt and Credit Arrangements
 9 Months Ended
Nov. 01, 2025
Debt Disclosure [Abstract]  
Debt and Credit Arrangements Debt and Credit Arrangements
The following table summarizes the Company’s debt (in thousands):
November 1, 2025February 1, 2025November 2, 2024
ABL Revolving Facility$200,000 $175,000 $245,000 
First Lien Term Loan400,000 400,000 400,000 
Unamortized original issue discount and debt issuance costs(974)(1,193)(1,337)
Less: Short-term debt(200,000)(175,000)(245,000)
Long-term debt$399,026 $398,807 $398,663 
ABL Revolving Facility
On July 28, 2022, the Company entered into the ABL Revolving Facility with an ABL Revolving Commitment of $1.2 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 November 1, 2025, there was $200.0 million outstanding in loans under the ABL Revolving Facility and $10.5 million in outstanding letters of credit. The interest rate on the ABL Revolving Facility was 5.07% and unused capacity was $989.5 million. As of February 1, 2025 and November 2, 2024, the interest rate on the ABL Revolving Facility was 5.41% and 5.77%, respectively.
First Lien Term Loan
On October 12, 2023, the Company entered into an amendment (the “Fourth 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 Fourth Amendment, among other things, extended the maturity date with respect to the term loans outstanding under the First Lien Term Loan Credit Agreement from February 3, 2027 to February 3, 2029. In addition, the Fourth Amendment reduced applicable margin in respect of the interest rate from SOFR plus 275 basis points per annum to SOFR plus 200 basis points per annum.
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.
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 November 1, 2025, 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 November 1, 2025, February 1, 2025, and November 2, 2024. The interest rate on the First Lien Term Loan was 5.88%, 6.08%, and 6.76% at November 1, 2025, February 1, 2025, and November 2, 2024, respectively.
v3.25.3
Commitments and Contingencies
 9 Months Ended
Nov. 01, 2025
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.
v3.25.3
Stock Incentive Plans
 9 Months Ended
Nov. 01, 2025
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. Refer to “Note 11. Stock Incentive Plans” included in our Annual Report on Form 10-K for fiscal year 2024, as filed with the Securities and Exchange Commission on March 14, 2025.
As of November 1, 2025, there were 4,356,217 shares available for future issuance under the 2018 Plan.
The following table summarizes the Company’s stock award activity during the thirty-nine weeks ended November 1, 2025 (shares in thousands):
Stock OptionsRestricted StockRestricted Stock UnitsPerformance Stock
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, February 1, 2025821 $19.14 291 $73.78 368 $75.43 628 $69.53 
Granted (b)
— — 5 107.79 278 113.29 341 114.88 
Forfeited/canceled— — (15)73.64 (48)91.90 (74)87.78 
Exercised/vested(299)16.74 (187)71.82 (133)76.56 (388)62.44 
Outstanding, November 1, 2025522 $20.52 94 $78.12 465 $96.02 507 $84.56 
(a) Shares outstanding reflect a 100% payout, however, the actual payout for the remaining performance stock awards granted in fiscal year 2021 is expected to be 200%, and the actual payout for performance stock awards granted in fiscal year 2022, which vested in the first quarter of fiscal year 2025, was 177%. Actual payout for the performance stock awards granted in fiscal year 2023, which vest in fiscal year 2026, could be below 100% or up to 200%. Actual payout for the performance stock awards granted in each of fiscal years 2024 and 2025, which vest in fiscal years 2027 and 2028, respectively, could be below 100% or up to 300%.
(b) Includes 175 incremental performance stock awards granted in fiscal years 2021 and 2022 with a weighted-average grant date fair value of $61.89, that vested in fiscal year 2025 at greater than 100% of target payout based on performance.
Stock-based compensation expense was $9.0 million and $10.7 million for the thirteen weeks ended November 1, 2025 and November 2, 2024, respectively, and $33.6 million and $29.6 million for the thirty-nine weeks ended November 1, 2025 and November 2, 2024, 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 $0.6 million and $0.5 million for the thirteen weeks ended November 1, 2025 and November 2, 2024, respectively, and $1.5 million and $1.2 million for the thirty-nine weeks ended November 1, 2025 and November 2, 2024, respectively. As of November 1, 2025, there were 3,212,890 shares available for issuance under the ESPP.
v3.25.3
Treasury Shares and Share Repurchase Program
 9 Months Ended
Nov. 01, 2025
Equity [Abstract]  
Treasury Shares and Share Repurchase Program Treasury Shares and Share Repurchase Program
Treasury Shares Acquired on Restricted Stock and Performance Stock Awards
The Company acquired 10,438 shares for $1.0 million and 11,331 shares for $1.0 million in the thirteen weeks ended November 1, 2025 and November 2, 2024, respectively, to satisfy employees’ tax withholding obligations upon the vesting of restricted stock and performance stock awards, which was recorded as treasury stock.
The Company acquired 324,210 shares for $36.4 million and 369,327 shares for $27.7 million in the thirty-nine weeks ended November 1, 2025 and November 2, 2024, 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 16, 2021, the Company's board of directors approved a share repurchase program (the “2021 Repurchase Program”) that allowed the Company to repurchase up to $500.0 million of its outstanding common stock. The 2021 Repurchase Program expired in January 2025, with the Company utilizing the entire authorization of $500.0 million.
On November 18, 2024, the Company's board of directors approved a new share repurchase program (the “2024 Repurchase Program”) that allows the Company to repurchase up to an additional $1.0 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 905,000 shares for $87.3 million under the 2024 Repurchase Program and 679,499 shares for $58.2 million under the 2021 Repurchase Program during the thirteen weeks ended November 1, 2025 and November 2, 2024, respectively. The Company repurchased 1,335,000 shares for $134.7 million under the 2024 Repurchase Program and 1,536,591 shares for $129.3 million under the 2021 Repurchase Program during the thirty-nine weeks ended November 1, 2025 and November 2, 2024, 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 November 1, 2025, $866.2 million remained available to purchase under the 2024 Repurchase Program.
v3.25.3
Income Taxes
 9 Months Ended
Nov. 01, 2025
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The Company projects the estimated annual effective tax rate for fiscal year 2025 to be 28.0%, excluding the tax effect of discrete events, such as excess tax benefits from stock-based compensation, changes in tax legislation, gains from the utilization of prior year purchased tax credits, settlements of tax audits and changes in uncertain tax positions, among others.
The Company’s effective income tax rate was 26.9% and 28.2% for the thirteen weeks ended November 1, 2025 and November 2, 2024, respectively. For the thirty-nine weeks ended November 1, 2025 and November 2, 2024, the Company's effective tax rate was and 25.4% and 25.7%, respectively. The decrease in the effective income tax rate for both comparative periods was attributable to increased current year research and development tax credits compared to the prior year period. For the thirty-nine weeks ended November 1, 2025, the decrease in the effective income tax rate was also driven by benefits recognized from the utilization of income tax credits. Cash taxes paid as presented in the supplemental cash flow information section of the condensed consolidated statements of cash flows includes $41.7 million paid for transferable credits during the thirty-nine weeks ended November 1, 2025.
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. The Act includes a broad range of tax provisions that could impact the Company’s financial results in tax year 2025 and future periods. 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 undergone efforts to reasonably estimate the impact of the Act to our financial statements and has reflected the effects within the condensed consolidated financial statements as of and for the thirty-nine weeks ended November 1, 2025. The Company is awaiting guidance from the U.S. Department of the Treasury and will continue to evaluate the impact of the Act as additional information becomes available.
v3.25.3
Fair Value Measurements
 9 Months Ended
Nov. 01, 2025
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 November 1, 2025 are as follows (in thousands):
Carrying AmountFair Value
ABL Revolving Facility$200,000 $200,000 
First Lien Term Loan400,000 401,856 
Total Debt$600,000 $601,856 
The gross carrying amount and fair value of the Company’s debt at February 1, 2025 are as follows (in thousands):
Carrying AmountFair Value
ABL Revolving Facility$175,000 $175,000 
First Lien Term Loan400,000 402,500 
Total Debt$575,000 $577,500 
The gross carrying amount and fair value of the Company’s debt at November 2, 2024 are as follows (in thousands):
Carrying AmountFair Value
ABL Revolving Facility$245,000 $245,000 
First Lien Term Loan400,000 401,332 
Total Debt$645,000 $646,332 
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.
v3.25.3
Earnings Per Share
 9 Months Ended
Nov. 01, 2025
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 thirty-nine weeks ended November 1, 2025 and November 2, 2024 (in thousands):
Thirteen Weeks EndedThirty-nine Weeks Ended
November 1, 2025November 2, 2024November 1, 2025November 2, 2024
Weighted-average shares of common stock outstanding, used for basic computation131,194 132,083 131,520 132,304 
Plus: Incremental shares of potentially dilutive securities728 1,250 876 1,460 
Weighted-average shares of common stock and dilutive potential shares of common stock outstanding131,922 133,333 132,396 133,764 
The table below summarizes awards that were excluded from the computation of diluted earnings for the thirteen and thirty-nine weeks ended November 1, 2025 and November 2, 2024, as their inclusion would have been anti-dilutive (in thousands):
Thirteen Weeks EndedThirty-nine Weeks Ended
November 1, 2025November 2, 2024November 1, 2025November 2, 2024
Stock-based awards168 — 142 112 
v3.25.3
Segment Reporting
 9 Months Ended
Nov. 01, 2025
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 utilizes 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 EndedThirty-nine Weeks Ended
November 1, 2025November 2, 2024November 1, 2025November 2, 2024
Total revenues$5,348,163 $5,099,364 $15,881,886 $15,223,278 
Less: significant and other segment expenses
Merchandise cost of sales (a)
3,492,207 3,318,404 10,384,415 9,822,895 
Selling, general and administrative expenses (b)
795,986 746,093 2,351,485 2,221,629 
Other segment expenses (c)
907,920 879,119 2,693,463 2,766,999 
Net income$152,050 $155,748 $452,523 $411,755 
(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.
v3.25.3
Insider Trading Arrangements
 3 Months Ended
Nov. 01, 2025
shares
Trading Arrangements, by Individual  
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
Ms. Laura Felice [Member]  
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement On September 2, 2025, Ms. Laura Felice, executive vice president, chief financial officer of the company, adopted a trading arrangement with respect to the sale of securities of the Company's common stock that is intended to satisfy the affirmative defense conditions of Securities Exchange Act Rule 10b5-1(c) (a “Rule 10b5-1 Trading Plan”). Ms. Felice’s Rule 10b5-1 Trading Plan, which expires on December 1, 2026, provides for the sale of up to 87,167 shares of common stock pursuant to the terms of the plan.
Name Ms. Laura Felice
Title executive vice president, chief financial officer
Rule 10b5-1 Arrangement Adopted true
Adoption Date September 2, 2025
Expiration Date December 1, 2026
Arrangement Duration 455 days
Aggregate Available 87,167
v3.25.3
Summary of Significant Accounting Policies (Policies)
 9 Months Ended
Nov. 01, 2025
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 February 1, 2025 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 sales and operating income 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 2024, as filed with the Securities and Exchange Commission on March 14, 2025.
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 November 1, 2025 and November 2, 2024 are referred to herein as the “third quarter of fiscal year 2025” and the “third quarter of fiscal year 2024,” respectively. The thirty-nine week periods ended November 1, 2025 and November 2, 2024 are referred to herein as the “thirty-nine weeks ended November 1, 2025” and the “thirty-nine weeks ended November 2, 2024,” respectively. Operating results for the thirty-nine week period ended November 1, 2025 are not necessarily indicative of the results that may be expected for the 52-week fiscal year ending January 31, 2026.
Recent Accounting Pronouncements and Policies Recent 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 2024. 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.
In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (ASU) 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. ASU 2023-09 requires public companies to disclose, on an annual basis, a tabular tax rate reconciliation, using both percentages and amounts, broken out into specific categories with certain reconciling items at or above 5% of the statutory tax, further broken out by nature and/or jurisdiction. ASU 2023-09 requires all entities to disclose, on an annual basis, the amount of income taxes paid (net of refunds received), disaggregated between federal, state/local and foreign, and amounts paid to an individual jurisdiction when 5% or more of the total income taxes paid. The disclosure requirements are effective for fiscal years beginning after December 15, 2024, and 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 new pronouncement does not have an impact on the Company's consolidated balance sheet, statement of operations and comprehensive income, statement of stockholders' equity, or statement of cash flows. The Company continues to evaluate the impact of enhanced disclosure requirements on the notes to the consolidated financial statements, including the method of adoption. The Company will adopt this new pronouncement as part of its annual report as of and for the fiscal year ended January 31, 2026.
In November 2024, the FASB issued 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 that this guidance will have on its financial statement disclosures.
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 amends the recognition and disclosure framework for internal-use software costs, removing the previous “development stage” model and introducing a more judgment-based approach 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 fiscal years beginning after December 15, 2027. 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.
v3.25.3
Revenue Recognition (Tables)
 9 Months Ended
Nov. 01, 2025
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):
November 1, 2025February 1, 2025November 2, 2024
Current:
   Rewards programs:
   Royalty revenue$7,959 $9,972 $5,898 
   Co-brand initiatives2,537 4,082 4,269 
   Total rewards programs10,496 14,054 10,167 
    Membership264,548 253,262 236,536 
    Gift card program16,360 16,778 15,044 
    E-commerce sales7,955 7,839 6,383 
Long-term:
    Rewards programs:
   Co-brand initiatives1,796 3,139 4,068 
      Total deferred revenue$301,155 $295,072 $272,198 
The following table presents deferred revenue activity related to earned rewards (in thousands):
Thirty-nine Weeks Ended
November 1, 2025November 2, 2024
Earned rewards balance, beginning of period$57,474 $49,135 
Rewards earned276,180 242,566 
Revenue recognized on rewards(267,048)(232,293)
Earned rewards balance, end of period$66,606 $59,408 
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 February 1, 2025 and February 3, 2024 (in thousands):
Thirty-nine Weeks Ended
November 1, 2025November 2, 2024
Rewards programs:
Royalty revenue$9,972 $4,593 
Co-brand initiatives2,888 2,616 
Total rewards programs12,860 7,209 
Membership233,579 213,499 
Gift card program4,001 4,517 
E-commerce sales7,839 6,757 
Total revenue$258,279 $231,982 
Summary of Disaggregation of Revenue
The following table summarizes the Company’s percentage of net sales disaggregated by category:
Thirteen Weeks EndedThirty-nine Weeks Ended
November 1, 2025November 2, 2024November 1, 2025November 2, 2024
Perishables, Grocery, and Sundries72%72%72%71%
General Merchandise and Services10%10%10%10%
Gasoline and Other18%18%18%19%
v3.25.3
Debt and Credit Arrangements (Tables)
 9 Months Ended
Nov. 01, 2025
Debt Disclosure [Abstract]  
Summary of Debt
The following table summarizes the Company’s debt (in thousands):
November 1, 2025February 1, 2025November 2, 2024
ABL Revolving Facility$200,000 $175,000 $245,000 
First Lien Term Loan400,000 400,000 400,000 
Unamortized original issue discount and debt issuance costs(974)(1,193)(1,337)
Less: Short-term debt(200,000)(175,000)(245,000)
Long-term debt$399,026 $398,807 $398,663 
v3.25.3
Stock Incentive Plans (Tables)
 9 Months Ended
Nov. 01, 2025
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Award Activity
The following table summarizes the Company’s stock award activity during the thirty-nine weeks ended November 1, 2025 (shares in thousands):
Stock OptionsRestricted StockRestricted Stock UnitsPerformance Stock
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, February 1, 2025821 $19.14 291 $73.78 368 $75.43 628 $69.53 
Granted (b)
— — 5 107.79 278 113.29 341 114.88 
Forfeited/canceled— — (15)73.64 (48)91.90 (74)87.78 
Exercised/vested(299)16.74 (187)71.82 (133)76.56 (388)62.44 
Outstanding, November 1, 2025522 $20.52 94 $78.12 465 $96.02 507 $84.56 
(a) Shares outstanding reflect a 100% payout, however, the actual payout for the remaining performance stock awards granted in fiscal year 2021 is expected to be 200%, and the actual payout for performance stock awards granted in fiscal year 2022, which vested in the first quarter of fiscal year 2025, was 177%. Actual payout for the performance stock awards granted in fiscal year 2023, which vest in fiscal year 2026, could be below 100% or up to 200%. Actual payout for the performance stock awards granted in each of fiscal years 2024 and 2025, which vest in fiscal years 2027 and 2028, respectively, could be below 100% or up to 300%.
(b) Includes 175 incremental performance stock awards granted in fiscal years 2021 and 2022 with a weighted-average grant date fair value of $61.89, that vested in fiscal year 2025 at greater than 100% of target payout based on performance.
v3.25.3
Fair Value Measurements (Tables)
 9 Months Ended
Nov. 01, 2025
Fair Value Disclosures [Abstract]  
Summary of Carrying Amounts and Fair Values of Assets and Liabilities
The gross carrying amount and fair value of the Company’s debt at November 1, 2025 are as follows (in thousands):
Carrying AmountFair Value
ABL Revolving Facility$200,000 $200,000 
First Lien Term Loan400,000 401,856 
Total Debt$600,000 $601,856 
The gross carrying amount and fair value of the Company’s debt at February 1, 2025 are as follows (in thousands):
Carrying AmountFair Value
ABL Revolving Facility$175,000 $175,000 
First Lien Term Loan400,000 402,500 
Total Debt$575,000 $577,500 
The gross carrying amount and fair value of the Company’s debt at November 2, 2024 are as follows (in thousands):
Carrying AmountFair Value
ABL Revolving Facility$245,000 $245,000 
First Lien Term Loan400,000 401,332 
Total Debt$645,000 $646,332 
v3.25.3
Earnings Per Share (Tables)
 9 Months Ended
Nov. 01, 2025
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 thirty-nine weeks ended November 1, 2025 and November 2, 2024 (in thousands):
Thirteen Weeks EndedThirty-nine Weeks Ended
November 1, 2025November 2, 2024November 1, 2025November 2, 2024
Weighted-average shares of common stock outstanding, used for basic computation131,194 132,083 131,520 132,304 
Plus: Incremental shares of potentially dilutive securities728 1,250 876 1,460 
Weighted-average shares of common stock and dilutive potential shares of common stock outstanding131,922 133,333 132,396 133,764 
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 thirty-nine weeks ended November 1, 2025 and November 2, 2024, as their inclusion would have been anti-dilutive (in thousands):
Thirteen Weeks EndedThirty-nine Weeks Ended
November 1, 2025November 2, 2024November 1, 2025November 2, 2024
Stock-based awards168 — 142 112 
v3.25.3
Segment Reporting (Tables)
 9 Months Ended
Nov. 01, 2025
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 EndedThirty-nine Weeks Ended
November 1, 2025November 2, 2024November 1, 2025November 2, 2024
Total revenues$5,348,163 $5,099,364 $15,881,886 $15,223,278 
Less: significant and other segment expenses
Merchandise cost of sales (a)
3,492,207 3,318,404 10,384,415 9,822,895 
Selling, general and administrative expenses (b)
795,986 746,093 2,351,485 2,221,629 
Other segment expenses (c)
907,920 879,119 2,693,463 2,766,999 
Net income$152,050 $155,748 $452,523 $411,755 
(a)
Merchandise cost of sales represents those expenses related to the sales of merchandise including inventory costs and distribution costs, and excludes costs related to gasoline and membership fee income.
(b)
Selling, general and administrative expenses is inclusive of pre-opening expenses, stock-based compensation, and other corporate expenses.
(c)
Other segment expenses primarily consists of other costs of revenues, including gas, as well as interest expense and income tax expense.
v3.25.3
Description of Business (Details)
Nov. 01, 2025
state
warehouse_club
gas_station
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Number of stores | warehouse_club 256
Number of gas stations | gas_station 192
Number of states in which entity operates | state 21
v3.25.3
Revenue Recognition - Narrative (Details)
 9 Months Ended
Nov. 01, 2025
USD ($)
delivery
$ / gal
Membership  
Revenue, Major Customer [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  
Revenue, Major Customer [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
v3.25.3
Revenue Recognition - Deferred Revenue Balance (Details) - USD ($)
$ in Thousands
Nov. 01, 2025
Feb. 01, 2025
Nov. 02, 2024
Outstanding performance obligations, excluding earned award dollars      
Disaggregation of Revenue [Line Items]      
Total deferred revenue $ 301,155 $ 295,072 $ 272,198
Rewards programs:      
Disaggregation of Revenue [Line Items]      
Current: 10,496 14,054 10,167
Royalty revenue      
Disaggregation of Revenue [Line Items]      
Current: 7,959 9,972 5,898
Co-brand initiatives      
Disaggregation of Revenue [Line Items]      
Current: 2,537 4,082 4,269
Long-term: 1,796 3,139 4,068
Membership      
Disaggregation of Revenue [Line Items]      
Current: 264,548 253,262 236,536
Gift card program      
Disaggregation of Revenue [Line Items]      
Current: 16,360 16,778 15,044
E-commerce sales      
Disaggregation of Revenue [Line Items]      
Current: $ 7,955 $ 7,839 $ 6,383
v3.25.3
Revenue Recognition - Deferred Revenue Rollforward (Details) - Earned award dollars - USD ($)
$ in Thousands
 9 Months Ended
Nov. 01, 2025
Nov. 02, 2024
Contract With Customer, Liability Roll Forward [Roll Forward]    
Deferred revenue balance, beginning of period $ 57,474 $ 49,135
Rewards earned 276,180 242,566
Revenue recognized on rewards (267,048) (232,293)
Deferred revenue balance, end of period $ 66,606 $ 59,408
v3.25.3
Revenue Recognition - Revenue Recognized (Details) - USD ($)
$ in Thousands
 9 Months Ended
Nov. 01, 2025
Nov. 02, 2024
Disaggregation of Revenue [Line Items]    
Total revenue $ 258,279 $ 231,982
Rewards programs:    
Disaggregation of Revenue [Line Items]    
Total revenue 12,860 7,209
Royalty revenue    
Disaggregation of Revenue [Line Items]    
Total revenue 9,972 4,593
Co-brand initiatives    
Disaggregation of Revenue [Line Items]    
Total revenue 2,888 2,616
Membership    
Disaggregation of Revenue [Line Items]    
Total revenue 233,579 213,499
Gift card program    
Disaggregation of Revenue [Line Items]    
Total revenue 4,001 4,517
E-commerce sales    
Disaggregation of Revenue [Line Items]    
Total revenue $ 7,839 $ 6,757
v3.25.3
Revenue Recognition - Percentage of Net Sales Disaggregated by Category (Details)
 3 Months Ended 9 Months Ended
Nov. 01, 2025
Nov. 02, 2024
Nov. 01, 2025
Nov. 02, 2024
Perishables, Grocery, and Sundries        
Disaggregation of Revenue [Line Items]        
Net sales percentage 72.00% 72.00% 72.00% 71.00%
General Merchandise and Services        
Disaggregation of Revenue [Line Items]        
Net sales percentage 10.00% 10.00% 10.00% 10.00%
Gasoline and Other        
Disaggregation of Revenue [Line Items]        
Net sales percentage 18.00% 18.00% 18.00% 19.00%
v3.25.3
Debt and Credit Arrangements - Debt Components (Details) - USD ($)
$ in Thousands
Nov. 01, 2025
Feb. 01, 2025
Nov. 02, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]      
Carrying amount $ 600,000 $ 575,000 $ 645,000
Unamortized original issue discount and debt issuance costs (974) (1,193) (1,337)
Less: Short-term debt (200,000) (175,000) (245,000)
Long-term debt 399,026 398,807 398,663
ABL Revolving Facility      
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]      
Carrying amount 200,000 175,000 245,000
First Lien Term Loan      
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]      
Carrying amount $ 400,000 $ 400,000 $ 400,000
v3.25.3
Debt and Credit Arrangements - Narrative (Details)
$ in Thousands
Nov. 04, 2024
USD ($)
Oct. 12, 2023
Oct. 11, 2023
Jul. 28, 2022
USD ($)
Nov. 01, 2025
USD ($)
Feb. 01, 2025
USD ($)
Nov. 02, 2024
USD ($)
Debt Instrument [Line Items]              
Amount outstanding         $ 600,000 $ 575,000 $ 645,000
ABL Revolving Facility              
Debt Instrument [Line Items]              
Amount outstanding         200,000 175,000 245,000
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         $ 200,000    
Interest rate at end of period         5.07% 5.41% 5.77%
Unused capacity         $ 989,500    
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         10,500    
Term Loan | First Lien Term Loan | Line of Credit              
Debt Instrument [Line Items]              
Basis spread on variable rate 1.75% 2.00% 2.75%        
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         5.88% 6.08% 6.76%
v3.25.3
Stock Incentive Plans - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Nov. 01, 2025
Nov. 02, 2024
Nov. 01, 2025
Nov. 02, 2024
Jun. 14, 2018
Jun. 13, 2018
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]            
Stock-based compensation expense $ 9.0 $ 10.7 $ 33.6 $ 29.6    
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) 4,356,217   4,356,217      
Employee Stock Purchase Plan            
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]            
Shares available for future issuance (in shares) 3,212,890   3,212,890      
Stock-based compensation expense $ 0.6 $ 0.5 $ 1.5 $ 1.2    
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%  
v3.25.3
Stock Incentive Plans - Stock Award Activity (Details)
shares in Thousands
 9 Months Ended
Nov. 01, 2025
$ / shares
shares
Stock Options  
Shares  
Outstanding (in shares) | shares 821
Granted (in shares) | shares 0
Forfeited/canceled (in shares) | shares 0
Exercised/vested (in shares) | shares (299)
Outstanding (in shares) | shares 522
Weighted- Average Exercise Price  
Outstanding (in USD per share) | $ / shares $ 19.14
Granted (in USD per share) | $ / shares 0
Forfeited/canceled (in USD per share) | $ / shares 0
Exercised/vested (in USD per share) | $ / shares 16.74
Outstanding (in USD per share) | $ / shares $ 20.52
Restricted Stock  
Shares  
Outstanding (in shares) | shares 291
Granted (in shares) | shares 5
Forfeited/canceled (in shares) | shares (15)
Exercised/vested (in shares) | shares (187)
Outstanding (in shares) | shares 94
Weighted- Average Grant Date Fair Value  
Outstanding (in USD per share) | $ / shares $ 73.78
Granted (in USD per share) | $ / shares 107.79
Forfeited/canceled (in USD per share) | $ / shares 73.64
Exercised/vested (in USD per share) | $ / shares 71.82
Outstanding (in USD per share) | $ / shares $ 78.12
Restricted Stock Units  
Shares  
Outstanding (in shares) | shares 368
Granted (in shares) | shares 278
Forfeited/canceled (in shares) | shares (48)
Exercised/vested (in shares) | shares (133)
Outstanding (in shares) | shares 465
Weighted- Average Grant Date Fair Value  
Outstanding (in USD per share) | $ / shares $ 75.43
Granted (in USD per share) | $ / shares 113.29
Forfeited/canceled (in USD per share) | $ / shares 91.90
Exercised/vested (in USD per share) | $ / shares 76.56
Outstanding (in USD per share) | $ / shares $ 96.02
Performance Stock  
Shares  
Outstanding (in shares) | shares 628
Granted (in shares) | shares 341
Forfeited/canceled (in shares) | shares (74)
Exercised/vested (in shares) | shares (388)
Outstanding (in shares) | shares 507
Weighted- Average Grant Date Fair Value  
Outstanding (in USD per share) | $ / shares $ 69.53
Granted (in USD per share) | $ / shares 114.88
Forfeited/canceled (in USD per share) | $ / shares 87.78
Exercised/vested (in USD per share) | $ / shares 62.44
Outstanding (in USD per share) | $ / shares $ 84.56
Estimated payout (as a percent) 100.00%
Performance Stock | Granted in 2021  
Weighted- Average Grant Date Fair Value  
Estimated payout (as a percent) 200.00%
Performance Stock | Granted in 2022  
Weighted- Average Grant Date Fair Value  
Actual payout (as a percent) 177.00%
Performance Stock | Minimum | Granted In 2023  
Weighted- Average Grant Date Fair Value  
Estimated payout (as a percent) 100.00%
Performance Stock | Minimum | Granted in 2024 and 2025  
Weighted- Average Grant Date Fair Value  
Estimated payout (as a percent) 100.00%
Performance Stock | Maximum | Granted In 2023  
Weighted- Average Grant Date Fair Value  
Estimated payout (as a percent) 200.00%
Performance Stock | Maximum | Granted in 2024 and 2025  
Weighted- Average Grant Date Fair Value  
Estimated payout (as a percent) 300.00%
Performance Stock, Vested at Greater than 100% of Target  
Shares  
Granted (in shares) | shares 175
Weighted- Average Grant Date Fair Value  
Granted (in USD per share) | $ / shares $ 61.89
Performance target (greater than) 100.00%
v3.25.3
Treasury Shares and Share Repurchase Program (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Nov. 01, 2025
Aug. 02, 2025
May 03, 2025
Nov. 02, 2024
Aug. 03, 2024
May 04, 2024
Nov. 01, 2025
Nov. 02, 2024
Nov. 18, 2024
Nov. 16, 2021
Equity, Class of Treasury Stock [Line Items]                    
Shares reacquired to satisfy tax withholding obligations (in shares) 10,438     11,331     324,210 369,327    
Shares reacquired to satisfy tax withholding obligations $ 1,000     $ 1,000     $ 36,400 $ 27,700    
Shares repurchased $ 88,221 $ 41,590 $ 41,305 $ 59,200 $ 40,846 $ 56,905        
2021 Repurchase Program                    
Equity, Class of Treasury Stock [Line Items]                    
Share repurchase program, amount authorized                   $ 500,000
Shares repurchased (in shares) 905,000     679,499     1,335,000 1,536,591    
Shares repurchased $ 87,300     $ 58,200     $ 134,700 $ 129,300    
Share repurchase program, amount remaining available $ 866,200           $ 866,200      
2024 Repurchase Program                    
Equity, Class of Treasury Stock [Line Items]                    
Share repurchase program, amount authorized                 $ 1,000,000  
v3.25.3
Income Taxes (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended 12 Months Ended
Nov. 01, 2025
Nov. 02, 2024
Nov. 01, 2025
Nov. 02, 2024
Jan. 31, 2026
Effective Income Tax Rate Reconciliation [Line Items]          
Effective tax rate 26.90% 28.20% 25.40% 25.70%  
Income taxes paid, purchased transferable credits     $ 41.7    
Forecast          
Effective Income Tax Rate Reconciliation [Line Items]          
Effective tax rate         28.00%
v3.25.3
Fair Value Measurements (Details) - USD ($)
$ in Thousands
Nov. 01, 2025
Feb. 01, 2025
Nov. 02, 2024
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Carrying Amount $ 600,000 $ 575,000 $ 645,000
Fair Value 601,856 577,500 646,332
ABL Revolving Facility      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Carrying Amount 200,000 175,000 245,000
Fair Value 200,000 175,000 245,000
First Lien Term Loan      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Carrying Amount 400,000 400,000 400,000
Fair Value $ 401,856 $ 402,500 $ 401,332
v3.25.3
Earnings Per Share - Basic and Diluted Weighted-Average Shares of Common Stock Outstanding (Details) - shares
shares in Thousands
 3 Months Ended 9 Months Ended
Nov. 01, 2025
Nov. 02, 2024
Nov. 01, 2025
Nov. 02, 2024
Earnings Per Share [Abstract]        
Weighted-average shares of common stock outstanding, used for basic computation (in shares) 131,194 132,083 131,520 132,304
Plus: Incremental shares of potentially dilutive securities (in shares) 728 1,250 876 1,460
Weighted-average shares of common stock and dilutive potential shares of common stock outstanding (in shares) 131,922 133,333 132,396 133,764
v3.25.3
Earnings Per Share - Awards Excluded from Computation of Diluted Earnings (Details) - shares
shares in Thousands
 3 Months Ended 9 Months Ended
Nov. 01, 2025
Nov. 02, 2024
Nov. 01, 2025
Nov. 02, 2024
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) 168 0 142 112
v3.25.3
Segment Reporting (Details)
$ in Thousands
 3 Months Ended 9 Months Ended
Nov. 01, 2025
USD ($)
Aug. 02, 2025
USD ($)
May 03, 2025
USD ($)
Nov. 02, 2024
USD ($)
Aug. 03, 2024
USD ($)
May 04, 2024
USD ($)
Nov. 01, 2025
USD ($)
segment
Nov. 02, 2024
USD ($)
Segment Reporting [Abstract]                
Number of operating segments | segment             1  
Number of reportable segments | segment             1  
Segment Reporting Information [Line Items]                
Total revenues $ 5,348,163     $ 5,099,364     $ 15,881,886 $ 15,223,278
Less: significant and other segment expenses                
Net income 152,050 $ 150,705 $ 149,768 155,748 $ 144,988 $ 111,019 452,523 411,755
Reportable Segment                
Segment Reporting Information [Line Items]                
Total revenues 5,348,163     5,099,364     15,881,886 15,223,278
Less: significant and other segment expenses                
Merchandise cost of sales 3,492,207     3,318,404     10,384,415 9,822,895
Selling, general & administrative expenses 795,986     746,093     2,351,485 2,221,629
Other segment expenses 907,920     879,119     2,693,463 2,766,999
Net income $ 152,050     $ 155,748     $ 452,523 $ 411,755