BJ'S WHOLESALE CLUB HOLDINGS, INC., 10-Q filed on 11/25/2020
Quarterly Report
v3.20.2
Cover - shares
 9 Months Ended
Oct. 31, 2020
Nov. 20, 2020
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Oct. 31, 2020  
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 25 Research Drive  
Entity Address, City or Town Westborough,  
Entity Address, State or Province MA  
Entity Address, Postal Zip Code 01581  
City Area Code 774  
Local Phone Number 512-7400  
Title of 12(b) Security Common Stock, par value $0.01  
Trading Symbol BJ  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding (in shares)   137,280,410
Amendment Flag false  
Document Fiscal Year Focus 2020  
Document Fiscal Period Focus Q3  
Entity Central Index Key 0001531152  
Current Fiscal Year End Date --01-30  
v3.20.2
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Oct. 31, 2020
Feb. 01, 2020
Nov. 02, 2019
Current assets:      
Cash and cash equivalents $ 46,116 $ 30,204 $ 29,968
Accounts receivable, net 188,413 206,353 185,983
Merchandise inventories 1,264,323 1,081,502 1,271,172
Prepaid expenses and other current assets 97,116 41,961 55,285
Total current assets 1,595,968 1,360,020 1,542,408
Operating lease right-of-use assets, net 2,034,742 2,060,059 2,067,626
Property and equipment:      
Land and buildings 376,635 375,375 390,085
Leasehold costs and improvements 221,403 214,209 211,824
Furniture, fixtures and equipment 1,258,876 1,135,892 1,130,854
Construction in progress 43,382 51,741 53,244
Total property and equipment, gross 1,900,296 1,777,217 1,786,007
Less: accumulated depreciation and amortization (1,131,038) (1,017,009) (1,010,348)
Total property and equipment, net 769,258 760,208 775,659
Goodwill 924,134 924,134 924,134
Intangibles, net 138,088 146,985 150,357
Other assets 20,094 18,374 17,897
Total assets 5,482,284 5,269,780 5,478,081
Current liabilities:      
Current portion of long-term debt 260,000 343,377 449,377
Current portion of operating lease liabilities 131,025 123,751 121,961
Accounts payable 1,176,104 786,412 973,328
Accrued expenses and other current liabilities 643,309 547,876 507,141
Total current liabilities 2,210,438 1,801,416 2,051,807
Long-term operating lease liabilities 1,961,321 1,986,790 1,980,447
Long-term debt 845,696 1,337,308 1,339,700
Deferred income taxes 47,241 46,200 50,486
Other non-current liabilities 200,210 152,410 160,127
Commitments and Contingencies (see Note 7)
STOCKHOLDERS’ EQUITY (DEFICIT)      
Preferred stock; par value $0.01; 5,000 shares authorized, and no shares issued or outstanding 0 0 0
Common stock, par value $0.01; 300,000 shares authorized, 143,199 shares issued and 137,263 outstanding at October 31, 2020; 140,723 shares issued and 137,298 outstanding at February 1, 2020; and 140,642 shares issued and 137,217 outstanding at November 2, 2019 1,432 1,407 1,406
Additional paid-in capital 814,376 773,618 766,050
Accumulated deficit (391,221) (716,369) (758,131)
Accumulated other comprehensive loss (26,124) (26,586) (27,397)
Treasury stock, at cost, 5,936 shares at October 31, 2020; 3,425 shares at February 1, 2020 and November 2, 2019 (181,085) (86,414) (86,414)
Total stockholders’ equity (deficit) 217,378 (54,344) (104,486)
Total liabilities and stockholders’ equity (deficit) $ 5,482,284 $ 5,269,780 $ 5,478,081
v3.20.2
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares
Oct. 31, 2020
Feb. 01, 2020
Nov. 02, 2019
Statement of Financial Position [Abstract]      
Preferred stock, par value (in dollars per share) $ 0.01 $ 0.01 $ 0.01
Preferred stock, authorized (in shares) 5,000,000 5,000,000 5,000,000
Preferred stock, issued (in shares) 0 0 0
Preferred stock, outstanding (in shares) 0 0 0
Common stock, par value (in dollars per share) $ 0.01 $ 0.01 $ 0.01
Common stock, authorized (in shares) 300,000,000 300,000,000 300,000,000
Common stock, issued (in shares) 143,199,000 140,723,000 140,642,000
Common stock, outstanding (in shares) 137,263,000 137,298,000 137,217,000
Treasury stock, at cost (in shares) 5,936,000 3,425,000 3,425,000
v3.20.2
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Oct. 31, 2020
Nov. 02, 2019
Oct. 31, 2020
Nov. 02, 2019
Total revenues $ 3,731,669 $ 3,229,404 $ 11,483,404 $ 9,718,382
Cost of sales 2,988,397 2,611,758 9,247,042 7,913,820
Selling, general and administrative expenses 552,307 510,410 1,733,482 1,523,480
Pre-opening expense 610 6,304 5,180 10,727
Operating income 190,355 100,932 497,700 270,355
Interest expense, net 25,882 27,702 68,467 82,274
Income from continuing operations before income taxes 164,473 73,230 429,233 188,081
Provision for income taxes 41,590 18,034 103,940 42,507
Income from continuing operations 122,883 55,196 325,293 145,574
Loss from discontinued operations, net of income taxes (87) (104) (145) (161)
Net income $ 122,796 $ 55,092 $ 325,148 $ 145,413
Income per share attributable to common stockholders—basic:        
Income from continuing operations (in usd per share) $ 0.90 $ 0.41 $ 2.39 $ 1.07
Loss from discontinued operations (in usd per share) 0 0 0 0
Net income (in usd per share) 0.90 0.41 2.39 1.07
Income per share attributable to common stockholders—diluted:        
Income from continuing operations (in usd per share) 0.88 0.40 2.34 1.04
Loss from discontinued operations (in usd per share) 0 0 0 0
Net income (in usd per share) $ 0.88 $ 0.40 $ 2.34 $ 1.04
Weighted average number of common shares outstanding:        
Basic (in shares) 136,011,473 135,520,854 136,269,239 136,300,591
Diluted (in shares) 139,060,460 138,191,868 139,003,419 139,390,254
Other comprehensive income (loss):        
Amounts reclassified from other comprehensive income, net of income tax benefit of $1,427 $ 3,670 $ 0 $ 3,670 $ 0
Unrealized gain (loss) on cash flow hedge, net of income tax benefit (provision) 5,856 (787) (3,208) (16,083)
Total other comprehensive income (loss) 9,526 (787) 462 (16,083)
Total comprehensive income 132,322 54,305 325,610 129,330
Product        
Total revenues 3,646,723 3,152,887 11,236,403 9,493,795
Membership        
Total revenues $ 84,946 $ 76,517 $ 247,001 $ 224,587
v3.20.2
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Parenthetical) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Oct. 31, 2020
Nov. 02, 2019
Oct. 31, 2020
Nov. 02, 2019
Income Statement [Abstract]        
Amounts reclassified from other comprehensive income, income tax benefit $ 1,427   $ 1,427  
Unrealized gain (loss) on cash flow hedge, income tax (benefit) expense $ (2,278) $ 305 $ (1,246) $ (6,253)
v3.20.2
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIT) - USD ($)
shares in Thousands, $ in Thousands
Total
Common Stock
Additional Paid-in Capital
Accumulated Deficit
Accumulated Other Comprehensive Loss
Treasury Stock
Cumulative Effect, Period of Adoption, Adjustment
Cumulative Effect, Period of Adoption, Adjustment
Accumulated Deficit
Beginning balance (in shares) at Feb. 02, 2019   138,099       (782)    
Beginning balance at Feb. 02, 2019 $ (202,084) $ 1,381 $ 742,072 $ (915,113) $ (11,315) $ (19,109) $ 11,569 $ 11,569
Total Stockholders’ Deficit                
Net income 35,798     35,798        
Unrealized loss on cash flow hedge, net of tax (3,755)       (3,755)      
Common stock issued under stock incentive plans (in shares)   1,737            
Common stock issued under stock incentive plans   $ 17 (17)          
Stock compensation expense 3,844   3,844          
Net cash received on option exercises 6,319   6,319          
Ending balance (in shares) at May. 04, 2019   139,836       (782)    
Ending balance at May. 04, 2019 (148,309) $ 1,398 752,218 (867,746) (15,070) $ (19,109)    
Beginning balance (in shares) at Feb. 02, 2019   138,099       (782)    
Beginning balance at Feb. 02, 2019 (202,084) $ 1,381 742,072 (915,113) (11,315) $ (19,109) $ 11,569 $ 11,569
Total Stockholders’ Deficit                
Net income 145,413              
Amounts reclassified from other comprehensive income, net of tax 0              
Unrealized loss on cash flow hedge, net of tax $ (16,083)              
Ending balance (in shares) at Nov. 02, 2019 137,217 140,642       (3,425)    
Ending balance at Nov. 02, 2019 $ (104,486) $ 1,406 766,050 (758,131) (27,397) $ (86,414)    
Beginning balance (in shares) at May. 04, 2019   139,836       (782)    
Beginning balance at May. 04, 2019 (148,309) $ 1,398 752,218 (867,746) (15,070) $ (19,109)    
Total Stockholders’ Deficit                
Net income 54,523     54,523        
Unrealized loss on cash flow hedge, net of tax (11,540)       (11,540)      
Common stock issued under stock incentive plans (in shares)   312            
Common stock issued under stock incentive plans   $ 4 (4)          
Common stock issued under Employee Stock Purchase Plan (in shares)   37            
Common stock issued under Employee Stock Purchase Plan (ESPP) 726   726          
Stock compensation expense 4,952   4,952          
Net cash received on option exercises 2,299   2,299          
Treasury stock purchases (in shares)           (2,641)    
Treasury stock purchases (67,237)         $ (67,237)    
Ending balance (in shares) at Aug. 03, 2019   140,185       (3,423)    
Ending balance at Aug. 03, 2019 (164,586) $ 1,402 760,191 (813,223) (26,610) $ (86,346)    
Total Stockholders’ Deficit                
Net income 55,092     55,092        
Amounts reclassified from other comprehensive income, net of tax 0              
Unrealized loss on cash flow hedge, net of tax (787)       (787)      
Common stock issued under stock incentive plans (in shares)   457            
Common stock issued under stock incentive plans   $ 4 (4)          
Stock compensation expense 5,188   5,188          
Net cash received on option exercises 675   675          
Treasury stock purchases (in shares)           (2)    
Treasury stock purchases $ (68)         $ (68)    
Ending balance (in shares) at Nov. 02, 2019 137,217 140,642       (3,425)    
Ending balance at Nov. 02, 2019 $ (104,486) $ 1,406 766,050 (758,131) (27,397) $ (86,414)    
Beginning balance (in shares) at Feb. 01, 2020 137,298 140,723       (3,425)    
Beginning balance at Feb. 01, 2020 $ (54,344) $ 1,407 773,618 (716,369) (26,586) $ (86,414)    
Total Stockholders’ Deficit                
Net income 95,734     95,734        
Unrealized loss on cash flow hedge, net of tax (13,942)       (13,942)      
Common stock issued under stock incentive plans (in shares)   1,626            
Common stock issued under stock incentive plans   $ 16 (16)          
Stock compensation expense 5,514   5,514          
Net cash received on option exercises 5,608   5,608          
Treasury stock purchases (in shares)           (258)    
Treasury stock purchases (6,073)         $ (6,073)    
Ending balance (in shares) at May. 02, 2020   142,349       (3,683)    
Ending balance at May. 02, 2020 $ 32,497 $ 1,423 784,724 (620,635) (40,528) $ (92,487)    
Beginning balance (in shares) at Feb. 01, 2020 137,298 140,723       (3,425)    
Beginning balance at Feb. 01, 2020 $ (54,344) $ 1,407 773,618 (716,369) (26,586) $ (86,414)    
Total Stockholders’ Deficit                
Net income 325,148              
Amounts reclassified from other comprehensive income, net of tax 3,670              
Unrealized loss on cash flow hedge, net of tax $ (3,208)              
Ending balance (in shares) at Oct. 31, 2020 137,263 143,199       (5,936)    
Ending balance at Oct. 31, 2020 $ 217,378 $ 1,432 814,376 (391,221) (26,124) $ (181,085)    
Beginning balance (in shares) at May. 02, 2020   142,349       (3,683)    
Beginning balance at May. 02, 2020 32,497 $ 1,423 784,724 (620,635) (40,528) $ (92,487)    
Total Stockholders’ Deficit                
Net income 106,618     106,618        
Unrealized loss on cash flow hedge, net of tax 4,878       4,878      
Common stock issued under stock incentive plans (in shares)   246            
Common stock issued under stock incentive plans   $ 3 (3)          
Common stock issued under Employee Stock Purchase Plan (in shares)   58            
Common stock issued under Employee Stock Purchase Plan (ESPP) 1,107 $ 1 1,106          
Stock compensation expense 9,064   9,064          
Net cash received on option exercises 3,397   3,397          
Treasury stock purchases (in shares)           (1,047)    
Treasury stock purchases (38,460)         $ (38,460)    
Ending balance (in shares) at Aug. 01, 2020   142,653       (4,730)    
Ending balance at Aug. 01, 2020 119,101 $ 1,427 798,288 (514,017) (35,650) $ (130,947)    
Total Stockholders’ Deficit                
Net income 122,796     122,796        
Amounts reclassified from other comprehensive income, net of tax 3,670       3,670      
Unrealized loss on cash flow hedge, net of tax 5,856       5,856      
Common stock issued under stock incentive plans (in shares)   546            
Common stock issued under stock incentive plans   $ 5 (5)          
Stock compensation expense 8,667   8,667          
Net cash received on option exercises 7,426   7,426          
Treasury stock purchases (in shares)           (1,206)    
Treasury stock purchases $ (50,138)         $ (50,138)    
Ending balance (in shares) at Oct. 31, 2020 137,263 143,199       (5,936)    
Ending balance at Oct. 31, 2020 $ 217,378 $ 1,432 $ 814,376 $ (391,221) $ (26,124) $ (181,085)    
v3.20.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Oct. 31, 2020
Nov. 02, 2019
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 325,148 $ 145,413
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 124,331 116,920
Amortization of debt issuance costs and accretion of original issue discount 3,470 3,969
Debt extinguishment charges 4,077 2,032
Other non-cash items, net 5,441 2,539
Stock-based compensation expense 23,245 13,984
Deferred income tax provision 2,289 14,846
Increase (decrease) in cash due to changes in:    
Accounts receivable 17,940 8,317
Merchandise inventories (182,821) (218,866)
Prepaid expenses and other current assets (16,964) 14,051
Other assets (1,959) (1,400)
Accounts payable 389,692 156,448
Accrued expenses 61,829 (35,004)
Other non-current liabilities 46,254 (1,727)
Net cash provided by operating activities 801,972 221,522
CASH FLOWS FROM INVESTING ACTIVITIES    
Additions to property and equipment, net of disposals (152,800) (144,428)
Proceeds from sale leaseback transactions 25,893 0
Net cash used in investing activities (126,907) (144,428)
CASH FLOWS FROM FINANCING ACTIVITIES    
Payments on long term debt (3,297) (11,533)
Paydown of First Lien Term Loan (510,000) (200,000)
Proceeds from ABL Facility 996,000 1,114,000
Payments on ABL Facility (1,064,000) (919,000)
Net cash received from stock option exercises 16,431 9,293
Net cash received from ESPP 1,107 726
Acquisition of treasury stock (94,671) (67,305)
Other financing activities (723) (453)
Net cash used in financing activities (659,153) (74,272)
Net increase in cash and cash equivalents 15,912 2,822
Cash and cash equivalents at beginning of period 30,204 27,146
Cash and cash equivalents at end of period 46,116 29,968
Supplemental cash flow information:    
Interest paid 52,306 75,354
Income taxes paid 111,105 33,424
Non-cash financing and investing activities:    
Lease liabilities arising from obtaining right-of-use assets 90,320 136,243
Property additions included in accrued expenses $ 10,760 $ 20,255
v3.20.2
Description of Business
 9 Months Ended
Oct. 31, 2020
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 is a leading warehouse club operator in the eastern United States. As of October 31, 2020, the Company operated 219 warehouse clubs and 149 gas stations in 17 states.
The Company follows, and reports based on the National Retail Federation’s fiscal calendar. The thirteen week periods ended October 31, 2020 and November 2, 2019 are referred to as the "third quarter of fiscal year 2020" and the "third quarter of fiscal year 2019," respectively.
The novel coronavirus ("COVID-19") pandemic has severely impacted the economies of the U.S. and other countries around the world. In the preparation of these financial statements and related disclosures we have assessed the impact that COVID-19 has had on our estimates, assumptions and accounting policies and made additional disclosures, as necessary.
v3.20.2
Summary of Significant Accounting Policies
 9 Months Ended
Oct. 31, 2020
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies Summary of Significant Accounting Policies
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 generally accepted accounting principles in the United States of America ("GAAP").
The consolidated balance sheet as of February 1, 2020 is derived from the audited consolidated balance sheet as of that date. The unaudited results of operations for the third quarter of fiscal year 2020 are not necessarily indicative of future results or results to be expected for fiscal year 2020. The Company’s business, in common with the business of retailers generally, is subject to seasonal influences. 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 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 the fiscal year 2019, as filed with the Securities and Exchange Commission on March 19, 2020.
Reclassification
We adjusted the statement of cash flows for the first nine months of fiscal year 2019 to reclassify the change in book overdraft amounts into the accounts payable and accrued expenses line items, all within net cash provided by operating activities.    
Recently Adopted Accounting Pronouncements
The accounting policies the Company follows are set forth in its audited financial statements for fiscal year 2019. There have been no material changes to these accounting policies, except as noted below for new accounting pronouncements adopted at the beginning of fiscal year 2020.
Fair Value Measurement (ASU 2018-13)
In August 2018, the Financial Accounting Standards Board (the "FASB") issued Accounting Standards Update ("ASU") 2018-13 Changes to the Disclosure Requirements for Fair Value Measurement which updates the guidance to Fair Value Measurement (Topic 820). The updated guidance modifies the disclosure requirements for fair value measurements by removing, modifying or adding certain disclosures. The amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. The Company adopted ASU 2018-13 at the beginning of fiscal year 2020 on a prospective basis and the adoption of this standard did not have a material impact on the Company's consolidated financial statements.
Intangibles-Goodwill and Other-Internal-Use Software (ASU 2018-15)

In August 2018, the FASB issued ASU 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40). The update related to accounting for implementation costs incurred in a cloud computing arrangement that is a service contract. The update allows entities who are customers in hosting arrangements that are service contracts to apply the existing internal-use software guidance to determine which implementation costs to capitalize as an asset related to the service contract and which costs to expense. The update specifies classification for capitalizing implementation costs and related amortization expense within the financial statements and requires additional disclosures. The updated guidance is effective for fiscal reporting periods, including interim reporting within those periods, beginning after December 15, 2019. The Company adopted this standard at the beginning of fiscal year 2020 on a prospective basis. The adoption of this standard did not have a material impact on the Company's consolidated financial statements.

Goodwill Impairment (ASU 2017-04)
In January 2017, the FASB issued ASU 2017-04, which provides amendments to Accounting Standards Codification 350, Intangibles - Goodwill and Other, to eliminate Step 2 from the goodwill impairment test. Entities should perform their goodwill impairment tests by comparing the fair value of a reporting unit with its carrying amount and recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value. The Company adopted ASU 2017-04 at the beginning of fiscal year 2020 on a prospective basis and the adoption of this standard did not have a material impact on the Company's consolidated financial statements.
Credit Losses (ASU 2016-13)
In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (ASU 2016-13). This new guidance changes how entities account for credit impairment for trade and other receivables, as well as for certain financial assets and other instruments. ASU 2016-13 replaces the current "incurred loss" model with an "expected loss" model. Under the "incurred loss" model, a loss (or allowance) is recognized only when an event has occurred (such as a payment delinquency) that causes the entity to believe that a loss is probable (i.e., that it has been "incurred"). Under the "expected loss" model, an entity recognizes a loss (or allowance) upon initial recognition of the asset that reflects all future events that will lead to a loss being realized, regardless of whether it is probable that the future event will occur. The "incurred loss" model considers past events and current conditions, while the "expected loss" model includes expectations for the future which have yet to occur. The Company adopted ASU 2016-13 at the beginning of fiscal year 2020 and the adoption of this standard did not have a material impact on the Company's consolidated financial statements.
Recently Issued Accounting Pronouncements

Reference Rate Reform (ASU 2020-04)
In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848), which provides optional expedients and exceptions to the current guidance on contract modifications and hedging relationships to ease the financial reporting burdens of the expected market transition from London Interbank Offered Rate ("LIBOR") and other interbank offered rates to alternative reference rates. The guidance was effective upon issuance and may be applied prospectively to contract modifications made and hedging relationships entered into or evaluated on or before December 31, 2022. The Company is currently evaluating the impact of the new guidance on the Company's consolidated financial statements.
v3.20.2
Revenue Recognition
 9 Months Ended
Oct. 31, 2020
Revenue from Contract with Customer [Abstract]  
Revenue Recognition Revenue Recognition
Performance Obligations
The Company identifies each distinct performance obligation to transfer goods (or bundle of goods) or services. The Company recognizes revenue as it satisfies a performance obligation by transferring control of the goods or services to the customer.
Merchandise sales—The Company recognizes sales of merchandise at clubs and gas stations when the customer takes possession of the goods and tenders payment. Sales of merchandise at the Company’s clubs and gas stations, excluding sales taxes, represented approximately 96% of the Company’s net sales and approximately 94% of the Company’s total revenues for the thirty-nine weeks ended October 31, 2020. Sales taxes are recorded as a liability at the point of sale. Revenue is recorded at the point of sale based on the transaction price on the shelf sign, net of any applicable discounts, sales taxes and expected refunds. For e-commerce sales, the Company recognizes sales when control of the merchandise is transferred to the customer, which is typically at the shipping point.
BJ’s Perks Rewards and My BJ's Perks programs—The Company’s BJ’s Perks Rewards® membership program allows participating members to earn 2% cash back, up to a maximum of $500 per year, on qualified purchases made at BJ’s. The Company also offers a co-branded credit card program, the My BJ’s Perks® program, which allows My BJ's Perks® Mastercard credit card holders to earn up to 5% cash back on eligible purchases made at BJ’s and up to 2% cash back on purchases made with the card outside of BJ’s. Cash back has been in the form of electronic awards issued in $10 increments that may be used online or in-club at the register and expire six months from the date issued.
Earned awards may be redeemed on future purchases made at the Company. The Company recognizes revenue for earned awards when customers redeem such awards as part of a purchase at one of the Company’s clubs or the Company’s website. 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 award dollars earned in deferred revenue at the time the award dollars are earned. This liability was $24.6 million at October 31, 2020, $26.7 million at February 1, 2020 and $27.8 million at November 2, 2019.
Royalty revenue received in connection with the My BJ's Perks co-brand credit card program is variable consideration and is considered deferred until the card holder makes a purchase. The Company’s total deferred royalty revenue related to the outstanding My BJ’s Perks Rewards was $13.5 million, $14.8 million and $14.0 million at October 31, 2020, February 1, 2020 and November 2, 2019, respectively. The timing of revenue recognition of these awards dollars is driven by actual customer activities, such as redemptions and expirations. As of October 31, 2020, the Company expects to recognize $12.0 million of the deferred revenue in fiscal year 2020, and expects the remainder will be recognized in the years thereafter.
Membership—The Company charges a membership fee to its customers. That fee allows customers to shop in the Company’s clubs, shop on the Company’s website and purchase gasoline at the Company’s gas stations for the duration of the membership, which is generally 12 months. Because the Company has the obligation to provide access to its clubs, website 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. The Company’s deferred revenue related to membership fees was $151.2 million, $144.0 million and $135.8 million at October 31, 2020, February 1, 2020 and November 2, 2019, respectively.
Gift Card Program—The Company sells BJ’s gift cards in both physical and digital format, which allow customers to redeem the card for future purchases equal to the amount of the original purchase price of the gift card. Revenue from gift card sales is recognized in proportion to its rate of gift card redemptions because the Company’s performance obligation to redeem the gift card for merchandise is satisfied when the gift card is redeemed. The Company also recognizes breakage in proportion to its rate of gift card redemptions. Deferred revenue related to gift cards was $9.0 million, $10.3 million and $9.1 million at October 31, 2020, February 1, 2020 and November 2, 2019, respectively. The Company recognized $9.2 million and $10.5 million of revenue from gift card redemptions in the third quarter of fiscal year 2020 and third quarter of fiscal year 2019, respectively. The Company recognized $28.7 million and $33.0 million of revenue from gift card redemptions in the thirty-nine weeks ended October 31, 2020 and November 2, 2019, respectively.
Disaggregation of Revenue
The Company’s club retail operations, which represent substantially all of its consolidated total revenues, are the Company’s only reportable segment. All the Company’s identifiable assets are 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 following tables summarize the Company's percentage of net sales disaggregated by category:
Thirteen Weeks Ended
October 31, 2020November 2, 2019
Grocery (1)
77%74%
General Merchandise & Services13%13%
Gasoline and Other 10%13%

Thirty-Nine Weeks Ended
October 31, 2020November 2, 2019
Grocery (1)
78%73%
General Merchandise & Services13%13%
Gasoline and Other 9%14%
(1)Grocery division includes the legacy perishables, edible grocery and non-edible grocery division.
v3.20.2
Related Party Transactions
 9 Months Ended
Oct. 31, 2020
Related Party Transactions [Abstract]  
Related Party Transactions Related Party Transactions
One of the Company’s suppliers, Advantage Solutions Inc., is controlled by a related party of the Company. Advantage Solutions Inc. was a provider of in-club product demonstration and sampling services. Currently, the Company engages them from time to time to provide ancillary support services, including temporary club labor as needed. The Company incurred approximately $1.3 million and $10.2 million of costs payable to Advantage Solutions Inc. for services rendered during the thirteen weeks ended October 31, 2020 and November 2, 2019, respectively. The Company incurred approximately $13.5 million and $32.6 million of costs payable to Advantage Solutions Inc. for services rendered during the thirty-nine weeks ended October 31, 2020 and November 2, 2019, respectively. The demonstration and sampling service fees are fully funded by merchandise vendors who participate in the program.
The Company believes the terms obtained or consideration paid or received, as applicable, in connection with the transactions were comparable to terms available or amounts that would be paid or received, as applicable, in arms’-length transactions with unrelated parties.
v3.20.2
Debt and Credit Arrangements
 9 Months Ended
Oct. 31, 2020
Debt Disclosure [Abstract]  
Debt and Credit Arrangements Debt and Credit Arrangements
Debt consisted of the following (in thousands):
October 31,
2020		February 1,
2020		November 2,
2019
ABL Facility$310,000 $378,000 $484,000 
First Lien Term Loan801,920 1,315,216 1,318,512 
Unamortized debt discount and debt issuance cost(6,224)(12,531)(13,435)
Less: current portion(260,000)(343,377)(449,377)
Long-term debt$845,696 $1,337,308 $1,339,700 
ABL Facility
The ABL Facility is comprised of a $950.0 million revolving credit facility and a $50.0 million term loan. The ABL Facility is secured on a senior basis by certain "liquid assets" of the Company and secured on a junior basis by certain "fixed assets" of the Company. The $50.0 million term loan payment terms are restricted in that the term loan cannot be repaid unless all loans outstanding under the revolving credit facility are repaid, and once repaid, cannot be re-borrowed. The availability under the $950.0 million revolving credit facility is restricted based on eligible monthly merchandise inventories and receivables, as defined in the agreement governing the ABL Facility (the "ABL Facility Agreement"). As amended, interest on the revolving credit facility is calculated either at LIBOR plus a range of 125 to 175 basis points or a base rate plus a range of 25 to 75 basis points; and interest on the term loan is calculated at LIBOR plus a range of 200 to 250 basis points or a base rate plus a range of 100 to 150 basis points, in all cases based on excess availability. The applicable spread of LIBOR and base rate loans at all levels of excess availability steps down by 12.5 basis points upon achieving total net leverage of 3.00 to 1.00. The ABL Facility also provides a sub-facility for issuances of letters of credit subject to certain fees defined in the ABL Facility Agreement. The ABL Facility is subject to various commitment fees during the term of the facility based on utilization of the revolving credit facility, which is scheduled to mature on August 17, 2023.
At October 31, 2020, there was $310.0 million outstanding in loans under the ABL Facility and $21.2 million in outstanding letters of credit. As of October 31, 2020, the interest rate on the revolving credit facility was 1.27%, and unused capacity was $670.8 million.
At February 1, 2020, there was $378.0 million outstanding in loans under the ABL Facility and $17.5 million in outstanding letters of credit. As of February 1, 2020, the interest rate on the revolving credit facility was 2.78%, and unused capacity was $496.3 million.
At November 2, 2019, there was $484.0 million outstanding in loans under the ABL Facility and $27.3 million in outstanding letters of credit. As of November 2, 2019, the interest rate on the revolving credit facility was 2.91%, and unused capacity was $488.7 million.
First Lien Term Loan
The Company's First Lien Term Loan matures on February 3, 2024. 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. 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.
On November 1, 2019, the Company borrowed $200.0 million from the ABL Facility. The proceeds from the Company's borrowing were used to pay a portion of the principal amount due on the First Lien Term Loan. In connection with the payment, the Company expensed $2.0 million of previously capitalized deferred debt issuance costs and original issue discount.
On January 29, 2020, the Company amended its First Lien Term Loan to reduce the applicable interest rates. As amended, the First Lien Term Loan had an initial principal amount of $1,315.2 million and interest is calculated either at LIBOR plus 225 basis points or a base rate plus 125 basis points, and provided for a 25 basis point step down in the interest rate upon the achievement of certain debt ratings upgrades, which were achieved in July, 2020. Total fees associated with the refinancing were approximately $1.7 million. The Company wrote-off $0.1 million of previously capitalized debt issuance costs and original issue discount and expensed $1.7 million of new third-party fees.
On July 13, 2020, the Company paid $150.0 million of the principal amount due on the First Lien Term Loan. In connection with the payment, the Company expensed $1.3 million of previously capitalized deferred debt issuance costs and original issue discount. Due to the decrease in the principal amount due on the First Lien Term Loan, interest is now calculated at LIBOR plus 200 basis points.
On October 30, 2020, the Company borrowed $260.0 million from the ABL Facility. The proceeds from the Company's borrowing as well as $100.0 million of the Company's cash and cash equivalents were used to pay $360.0 million of the principal amount due on the First Lien Term Loan. In connection with the payment, the Company expensed $2.8 million of previously capitalized deferred debt issuance costs and original issue discount.
At October 31, 2020, there was $801.9 million outstanding on the First Lien Term Loan. At February 1, 2020, there was $1,315.2 million outstanding on the First Lien Term Loan. At November 2, 2019, there was $1,318.5 million outstanding on the First Lien Term Loan. At October 31, 2020, the interest rate for the First Lien Term Loan was 2.15%. At February 1, 2020, the interest rate for the First Lien Term Loan was 3.90%. At November 2, 2019, the interest rate for the First Lien Term Loan was 4.67%.
v3.20.2
Interest Expense, net
 9 Months Ended
Oct. 31, 2020
Other Income and Expenses [Abstract]  
Interest Expense, net Interest Expense, net
The following details the components of interest expense for the periods presented (in thousands):
 Thirteen Weeks EndedThirty-Nine Weeks Ended
 October 31, 2020November 2, 2019October 31, 2020November 2, 2019
Interest on debt$15,915 $23,741 $52,860 $74,439 
Interest on capital lease and financing obligations972 624 2,971 1,883 
Debt issuance costs amortization629 696 1,934 2,087 
Original issue discount amortization477 627 1,535 1,882 
Loss on debt extinguishment2,794 2,032 4,077 2,032 
Loss on cash flow hedge5,097 — 5,097 — 
Capitalized interest(2)(18)(7)(49)
Interest expense, net$25,882 $27,702 $68,467 $82,274 
v3.20.2
Commitments and Contingencies
 9 Months Ended
Oct. 31, 2020
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and ContingenciesThe 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 loss to the consolidated financial statements.
v3.20.2
Stock Incentive Plans
 9 Months Ended
Oct. 31, 2020
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 the grant of stock options, restricted stock, dividend equivalents, stock payments, restricted stock units, performance shares, other incentive awards, stock appreciation rights, and cash awards. Prior to the adoption of the 2018 Plan, the Company granted stock-based compensation to employees and non-employee directors, respectively, under the Fourth Amended and Restated 2011 Stock Option Plan of BJ's Wholesale Club, Inc. (f/k/a Beacon Holding Inc.), as amended (the "2011 Plan"), and the 2012 Director Stock Option Plan of BJ’s Wholesale Club Holdings, Inc. (f/k/a Beacon Holding, Inc.), as amended (the "2012 Director Plan"). No further grants will be made under the 2011 Plan or the 2012 Director Plan.
The 2018 Plan authorizes the issuance of 13,148,058 shares, including 985,369 shares that were reserved but not issued under the 2011 Plan and the 2012 Director Plan. If an award under the 2018 Plan, 2011 Plan or 2012 Director Plan is forfeited, expires or is settled for cash, any shares subject to such award may, to the extent of such forfeiture, expiration or cash settlement, be used again for new grants under the 2018 Plan. Additionally, shares tendered or withheld to satisfy grant or exercise price, or tax withholding obligations associated with an award under the 2018 Plan, the 2011 Plan or the 2012 Director Plan will be added to the shares authorized for grant under the 2018 Plan. The following shares may not be used again for grant under the 2018 Plan: (1) shares subject to a stock appreciation right ("SAR") that are not issued in connection with the stock settlement of the SAR upon its exercise and (2) shares purchased on the open market with the cash proceeds from the exercise of options under the 2018 Plan, 2011 Plan or 2012 Director Plan. As of October 31, 2020, there were 5,893,480 shares available for future issuance under the 2018 Plan.
The following table summarizes the Company’s stock award activity during the thirteen weeks ended October 31, 2020 (shares in thousands):
 Stock OptionsRestricted StockRestricted Stock
Units		Performance Stock
 SharesWeighted
Average
Exercise
Price		SharesWeighted
Average
Grant
Date Fair
Value		SharesWeighted
Average
Grant
Date Fair
Value		SharesWeighted
Average
Grant
Date Fair
Value
Outstanding, February 1, 20205,213 $14.00 1,445 $25.22 30 $25.83 — $— 
Granted441 25.07 711 25.65 31 33.38 527 23.96 
Forfeited/canceled(91)21.78 (95)24.45 — — — — 
Exercised/vested(1,769)9.57 (544)30.75 (32)34.54 — — 
Outstanding, October 31, 20203,794 $17.17 1,517 $25.65 29 $34.54 527 $23.96 
Stock-based compensation expense was $8.7 million and $5.2 million for the thirteen weeks ended October 31, 2020 and November 2, 2019, respectively. Stock-based compensation expense was $23.2 million and $14.0 million for the thirty-nine weeks ended October 31, 2020 and November 2, 2019, respectively.
On June 14, 2018, the Company’s board of directors adopted and its stockholders approved the BJ's Wholesale Club Holdings, Inc. Employee Stock Purchase Plan (the "ESPP"), which became effective the day prior to the first day of public trading of the Company’s equity securities. The aggregate number of shares of common stock that were to be reserved for issuance under the ESPP was to be 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 board of directors. The offering under the ESPP commenced on January 1, 2019. The ESPP has two six month offering periods each year, the first beginning in January and ending in June and the second beginning in July and ending in December. As of October 31, 2020, 1,799,409 shares remained available for issuance. The amount of expense recognized for the thirteen weeks ended October 31, 2020 and November 2, 2019 was $0.2 million and $0.1 million, respectively. The amount of expense recognized for the thirty-nine weeks ended October 31, 2020 and November 2, 2019 was $0.5 million and $0.3 million, respectively.

Treasury Shares Acquired
On June 27, 2019, the Company completed the CVC June 2019 Secondary Offering of 9,977,024 shares of the Company's common stock and, in connection with the offering, the Company repurchased 2,500,000 shares of common stock at a price of $25.41 per share. These repurchased shares are being held in treasury.
In addition, 6,727 shares were reacquired to satisfy employees’ tax withholding obligations upon the vesting of restricted stock awards in the thirteen weeks ended October 31, 2020 and 2,575 shares were reacquired in the thirteen weeks ended November 2, 2019. These reacquired shares were recorded as $0.1 million of treasury stock for each of the thirteen weeks ended October 31, 2020 and November 2, 2019. In addition, 211,995 shares were reacquired to satisfy employees’ tax withholding obligations upon the vesting of restricted stock awards in the thirty-nine weeks ended October 31, 2020 and 143,205 shares were reacquired in the thirty-nine weeks ended November 2, 2019. These reacquired shares were recorded as $6.5 million and $3.8 million of treasury stock for the thirty-nine weeks ended October 31, 2020 and November 2, 2019, respectively.
Share Repurchase Program
On December 19, 2019, the Company's board of directors authorized the repurchase of up to $250.0 million of the Company's outstanding common stock from time to time as market conditions warrant (the "Program"). The Program expires at the end of fiscal year 2021. The Company initiated the Program to mitigate potentially dilutive effects of stock options and shares of restricted stock granted by the Company, in addition to enhancing shareholder value. As of October 31, 2020, $161.9 million remained available to purchase under the Program. The Company repurchased 1,200,000 shares for $50.0 million during the thirteen weeks ended October 31, 2020. The Company repurchased 2,299,282 shares for $88.1 million during the thirty-nine weeks ended October 31, 2020.
v3.20.2
Income Taxes
 9 Months Ended
Oct. 31, 2020
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The effective income tax rate is based on estimated income from continuing operations for the fiscal year as well as discrete adjustments, if any, in the applicable quarterly periods. The Company projects the estimated annual effective tax rate for fiscal 2020 year to be 27.1%, 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 from continuing operations was 25.3% and 24.6% for the thirteen weeks ended October 31, 2020 and November 2, 2019, respectively; and 24.2% and 22.6% for the thirty-nine weeks ended October 31, 2020 and November 2, 2019, respectively. The increase in the effective tax rate for the third quarter of fiscal year 2020, compared to the third quarter of fiscal year 2019, is due primarily to higher income in the third quarter of fiscal year 2020, which resulted in a reduced benefit to the rate from the excess tax benefit for stock-based compensation.

We are subject to taxation in the U.S. federal and various state taxing jurisdictions. In general, the Company’s tax years from 2015 forward remain open and subject to examination by the Internal Revenue Service and various state taxing authorities; however, certain ongoing state audits and appeals relate to periods prior to 2015.
v3.20.2
Fair Value Measurements
 9 Months Ended
Oct. 31, 2020
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date or “exit price.” The inputs used to measure fair value are generally classified into the following hierarchy:
Level 1: Unadjusted quoted prices in active markets for identical assets or liabilities.
Level 2: Unadjusted quoted prices in active markets for similar assets or liabilities, or unadjusted quoted prices for identical or similar assets or liabilities in markets that are not observable for the asset or liability.
Level 3: Unobservable inputs for the asset or liability.
Assets and Liabilities Measured at Fair Value on a Recurring Basis

The fair values of the Company’s derivative instruments are based on quotes received from third-party banks and represent the estimated amount the Company would pay to terminate the agreements taking into consideration current interest rates as well as the creditworthiness of the counterparties. These inputs are considered to be Level 2.

Financial Assets and Liabilities

The gross carrying amount and fair value of the Company’s debt at October 31, 2020 are as follows (in thousands):
Carrying AmountFair Value
First Lien Term Loan$801,920 $788,800 
ABL Facility310,000 310,000 
Total Debt$1,111,920 $1,098,800 
The gross carrying amount and fair value of the Company’s debt at February 1, 2020 are as follows (in thousands):
Carrying AmountFair Value
First Lien Term Loan$1,315,216 $1,319,990 
ABL Facility378,000 378,000 
Total Debt$1,693,216 $1,697,990 
The gross carrying amount and fair value of the Company’s debt at November 2, 2019 are as follows (in thousands):
Carrying AmountFair Value
First Lien Term Loan$1,318,512 $1,318,288 
ABL Facility484,000 484,000 
Total Debt$1,802,512 $1,802,288 
The fair value of debt was based on quoted market prices and on borrowing rates available to the Company as of October 31, 2020, February 1, 2020 and November 2, 2019. These inputs are considered to be Level 2.

Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis

The Company measures certain non-financial assets and liabilities, including long-lived assets, 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, approximates their carrying value due to the short-term maturities of these instruments.
v3.20.2
Earnings Per Share
 9 Months Ended
Oct. 31, 2020
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
The table below reconciles basic weighted-average common shares outstanding to diluted weighted-average common shares outstanding for the thirteen and thirty-nine weeks ended October 31, 2020 and November 2, 2019:
 Thirteen Weeks EndedThirty-Nine Weeks Ended
 October 31, 2020November 2, 2019October 31, 2020November 2, 2019
Weighted-average common shares outstanding, used for basic computation136,011,473 135,520,854 136,269,239 136,300,591 
Plus: Incremental shares of potentially dilutive securities3,048,987 2,671,014 2,734,180 3,089,663 
Weighted-average number of common and dilutive potential common shares outstanding139,060,460 138,191,868 139,003,419 139,390,254 
No stock options were excluded from the computation of diluted earnings for the thirteen weeks ended October 31, 2020. 1,252 restricted shares were excluded from the computation of diluted earnings for the thirteen weeks ended October 31, 2020 because their inclusion would have been anti-dilutive. 368,554 and 260,503 stock options and restricted shares, respectively, were excluded from the computation of diluted earnings for the thirty-nine weeks ended October 31, 2020 because their inclusion would have been anti-dilutive. Similarly, 740,655 and 553,986 stock options and restricted shares, respectively, were excluded from the computation of diluted earnings for the thirteen weeks ended November 2, 2019. 589,145 and 434,375 stock options and restricted shares, respectively, were excluded from the computation of diluted earnings for the thirty-nine weeks ended November 2, 2019.
v3.20.2
Derivative Financial Instruments
 9 Months Ended
Oct. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments Derivative Financial Instruments
Interest Rate Swaps
On November 13, 2018, the Company entered into three forward starting interest rate swaps (the "Interest Rate Swaps"), which became effective on February 13, 2019. The Company fixed the LIBOR component of $1.2 billion of its floating rate debt at a rate of approximately 3.0% from February 13, 2019 to February 13, 2022.
On October 30, 2020, the Company borrowed $260.0 million from the ABL Facility. The proceeds from the Company's borrowing, as well as $100.0 million of the Company's cash and cash equivalents, were used to pay $360.0 million of the principal amount due on the First Lien Term Loan. Due to the payment of debt principal on the First Lien Term Loan, the Company determined that certain interest payments are no longer probable and that a portion of one of the interest rate swap agreements would be ineffective as a result of the payment of debt principal, and as such reclassified $5.1 million of losses recorded in other comprehensive income to interest expense.
At October 31, 2020, February 1, 2020, and November 2, 2019, the Interest Rate Swaps were recorded as a liability of $45.3 million, $40.0 million and $42.4 million, respectively, with the net of tax amount recorded in other comprehensive loss.
The Company elected hedge accounting for the interest rate swap agreements, and as such, the effective portion of the losses was recorded as a component of other comprehensive loss. As of October 31, 2020, the interest rate swap agreement with a notional amount of $240.0 million is no longer designated for hedge accounting, future changes in its fair value will be recognized in earnings. There were $8.1 million of gains and $1.1 million of losses recorded in other comprehensive loss for the thirteen weeks ended October 31, 2020 and November 2, 2019, respectively. There were $4.5 million and $22.3 million of losses recorded in other comprehensive loss for the thirty-nine weeks ended October 31, 2020 and November 2, 2019, respectively.

The fair values of derivative instruments included on the consolidated balance sheets are as follows (in thousands):
Fair Value at
Accounting for cash flow hedgesNotional AmountFixed RateBalance Sheet ClassificationOctober 31, 2020February 1,
2020		November 2, 2019
Interest rate swap$600,000 3.00 %Other non-current liabilities$(22,670)$(20,035)$(21,200)
Interest rate swap360,000 3.00 %Other non-current liabilities(13,587)(11,997)(12,694)
Interest rate swap240,000 3.00 %Other non-current liabilities(9,061)(8,003)(8,468)
Net carrying amount$1,200,000 Total liabilities$(45,318)$(40,035)$(42,362)
v3.20.2
Subsequent Events
 9 Months Ended
Oct. 31, 2020
Subsequent Events [Abstract]  
Subsequent Events Subsequent EventsOn November 10, 2020, the Company terminated the interest swap agreement with a notional amount of $360.0 million, and paid the swap agreement counterparty $13.1 million.
v3.20.2
Summary of Significant Accounting Policies (Policies)
 9 Months Ended
Oct. 31, 2020
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 generally accepted accounting principles in the United States of America ("GAAP").
The consolidated balance sheet as of February 1, 2020 is derived from the audited consolidated balance sheet as of that date. The unaudited results of operations for the third quarter of fiscal year 2020 are not necessarily indicative of future results or results to be expected for fiscal year 2020. The Company’s business, in common with the business of retailers generally, is subject to seasonal influences. 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.
Reclassification ReclassificationWe adjusted the statement of cash flows for the first nine months of fiscal year 2019 to reclassify the change in book overdraft amounts into the accounts payable and accrued expenses line items, all within net cash provided by operating activities.
Recently Adopted and Recently Issued Accounting Pronouncements
Recently Adopted Accounting Pronouncements
The accounting policies the Company follows are set forth in its audited financial statements for fiscal year 2019. There have been no material changes to these accounting policies, except as noted below for new accounting pronouncements adopted at the beginning of fiscal year 2020.
Fair Value Measurement (ASU 2018-13)
In August 2018, the Financial Accounting Standards Board (the "FASB") issued Accounting Standards Update ("ASU") 2018-13 Changes to the Disclosure Requirements for Fair Value Measurement which updates the guidance to Fair Value Measurement (Topic 820). The updated guidance modifies the disclosure requirements for fair value measurements by removing, modifying or adding certain disclosures. The amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. The Company adopted ASU 2018-13 at the beginning of fiscal year 2020 on a prospective basis and the adoption of this standard did not have a material impact on the Company's consolidated financial statements.
Intangibles-Goodwill and Other-Internal-Use Software (ASU 2018-15)

In August 2018, the FASB issued ASU 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40). The update related to accounting for implementation costs incurred in a cloud computing arrangement that is a service contract. The update allows entities who are customers in hosting arrangements that are service contracts to apply the existing internal-use software guidance to determine which implementation costs to capitalize as an asset related to the service contract and which costs to expense. The update specifies classification for capitalizing implementation costs and related amortization expense within the financial statements and requires additional disclosures. The updated guidance is effective for fiscal reporting periods, including interim reporting within those periods, beginning after December 15, 2019. The Company adopted this standard at the beginning of fiscal year 2020 on a prospective basis. The adoption of this standard did not have a material impact on the Company's consolidated financial statements.

Goodwill Impairment (ASU 2017-04)
In January 2017, the FASB issued ASU 2017-04, which provides amendments to Accounting Standards Codification 350, Intangibles - Goodwill and Other, to eliminate Step 2 from the goodwill impairment test. Entities should perform their goodwill impairment tests by comparing the fair value of a reporting unit with its carrying amount and recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value. The Company adopted ASU 2017-04 at the beginning of fiscal year 2020 on a prospective basis and the adoption of this standard did not have a material impact on the Company's consolidated financial statements.
Credit Losses (ASU 2016-13)
In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (ASU 2016-13). This new guidance changes how entities account for credit impairment for trade and other receivables, as well as for certain financial assets and other instruments. ASU 2016-13 replaces the current "incurred loss" model with an "expected loss" model. Under the "incurred loss" model, a loss (or allowance) is recognized only when an event has occurred (such as a payment delinquency) that causes the entity to believe that a loss is probable (i.e., that it has been "incurred"). Under the "expected loss" model, an entity recognizes a loss (or allowance) upon initial recognition of the asset that reflects all future events that will lead to a loss being realized, regardless of whether it is probable that the future event will occur. The "incurred loss" model considers past events and current conditions, while the "expected loss" model includes expectations for the future which have yet to occur. The Company adopted ASU 2016-13 at the beginning of fiscal year 2020 and the adoption of this standard did not have a material impact on the Company's consolidated financial statements.
Recently Issued Accounting Pronouncements

Reference Rate Reform (ASU 2020-04)
In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848), which provides optional expedients and exceptions to the current guidance on contract modifications and hedging relationships to ease the financial reporting burdens of the expected market transition from London Interbank Offered Rate ("LIBOR") and other interbank offered rates to alternative reference rates. The guidance was effective upon issuance and may be applied prospectively to contract modifications made and hedging relationships entered into or evaluated on or before December 31, 2022. The Company is currently evaluating the impact of the new guidance on the Company's consolidated financial statements.
v3.20.2
Revenue Recognition (Tables)
 9 Months Ended
Oct. 31, 2020
Revenue from Contract with Customer [Abstract]  
Percentage of Net Sales Disaggregated by Category
The following tables summarize the Company's percentage of net sales disaggregated by category:
Thirteen Weeks Ended
October 31, 2020November 2, 2019
Grocery (1)
77%74%
General Merchandise & Services13%13%
Gasoline and Other 10%13%

Thirty-Nine Weeks Ended
October 31, 2020November 2, 2019
Grocery (1)
78%73%
General Merchandise & Services13%13%
Gasoline and Other 9%14%
(1)Grocery division includes the legacy perishables, edible grocery and non-edible grocery division.
v3.20.2
Debt and Credit Arrangements (Tables)
 9 Months Ended
Oct. 31, 2020
Debt Disclosure [Abstract]  
Schedule of Debt
Debt consisted of the following (in thousands):
October 31,
2020		February 1,
2020		November 2,
2019
ABL Facility$310,000 $378,000 $484,000 
First Lien Term Loan801,920 1,315,216 1,318,512 
Unamortized debt discount and debt issuance cost(6,224)(12,531)(13,435)
Less: current portion(260,000)(343,377)(449,377)
Long-term debt$845,696 $1,337,308 $1,339,700 
v3.20.2
Interest Expense, net (Tables)
 9 Months Ended
Oct. 31, 2020
Other Income and Expenses [Abstract]  
Summary of Interest Expense
The following details the components of interest expense for the periods presented (in thousands):
 Thirteen Weeks EndedThirty-Nine Weeks Ended
 October 31, 2020November 2, 2019October 31, 2020November 2, 2019
Interest on debt$15,915 $23,741 $52,860 $74,439 
Interest on capital lease and financing obligations972 624 2,971 1,883 
Debt issuance costs amortization629 696 1,934 2,087 
Original issue discount amortization477 627 1,535 1,882 
Loss on debt extinguishment2,794 2,032 4,077 2,032 
Loss on cash flow hedge5,097 — 5,097 — 
Capitalized interest(2)(18)(7)(49)
Interest expense, net$25,882 $27,702 $68,467 $82,274 
v3.20.2
Stock Incentive Plans (Tables)
 9 Months Ended
Oct. 31, 2020
Share-based Payment Arrangement [Abstract]  
Schedule of Company's Stock Award Activity
The following table summarizes the Company’s stock award activity during the thirteen weeks ended October 31, 2020 (shares in thousands):
 Stock OptionsRestricted StockRestricted Stock
Units		Performance Stock
 SharesWeighted
Average
Exercise
Price		SharesWeighted
Average
Grant
Date Fair
Value		SharesWeighted
Average
Grant
Date Fair
Value		SharesWeighted
Average
Grant
Date Fair
Value
Outstanding, February 1, 20205,213 $14.00 1,445 $25.22 30 $25.83 — $— 
Granted441 25.07 711 25.65 31 33.38 527 23.96 
Forfeited/canceled(91)21.78 (95)24.45 — — — — 
Exercised/vested(1,769)9.57 (544)30.75 (32)34.54 — — 
Outstanding, October 31, 20203,794 $17.17 1,517 $25.65 29 $34.54 527 $23.96 
v3.20.2
Fair Value Measurements (Tables)
 9 Months Ended
Oct. 31, 2020
Fair Value Disclosures [Abstract]  
Carrying Amount and Fair Value of Debt
The gross carrying amount and fair value of the Company’s debt at October 31, 2020 are as follows (in thousands):
Carrying AmountFair Value
First Lien Term Loan$801,920 $788,800 
ABL Facility310,000 310,000 
Total Debt$1,111,920 $1,098,800 
The gross carrying amount and fair value of the Company’s debt at February 1, 2020 are as follows (in thousands):
Carrying AmountFair Value
First Lien Term Loan$1,315,216 $1,319,990 
ABL Facility378,000 378,000 
Total Debt$1,693,216 $1,697,990 
The gross carrying amount and fair value of the Company’s debt at November 2, 2019 are as follows (in thousands):
Carrying AmountFair Value
First Lien Term Loan$1,318,512 $1,318,288 
ABL Facility484,000 484,000 
Total Debt$1,802,512 $1,802,288 
v3.20.2
Earnings Per Share (Tables)
 9 Months Ended
Oct. 31, 2020
Earnings Per Share [Abstract]  
Summary of Basic and Diluted Net Income Per Share Attributable to Common Stockholders
The table below reconciles basic weighted-average common shares outstanding to diluted weighted-average common shares outstanding for the thirteen and thirty-nine weeks ended October 31, 2020 and November 2, 2019:
 Thirteen Weeks EndedThirty-Nine Weeks Ended
 October 31, 2020November 2, 2019October 31, 2020November 2, 2019
Weighted-average common shares outstanding, used for basic computation136,011,473 135,520,854 136,269,239 136,300,591 
Plus: Incremental shares of potentially dilutive securities3,048,987 2,671,014 2,734,180 3,089,663 
Weighted-average number of common and dilutive potential common shares outstanding139,060,460 138,191,868 139,003,419 139,390,254 
v3.20.2
Derivative Financial Instruments (Tables)
 9 Months Ended
Oct. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair Values of Derivative Instruments
The fair values of derivative instruments included on the consolidated balance sheets are as follows (in thousands):
Fair Value at
Accounting for cash flow hedgesNotional AmountFixed RateBalance Sheet ClassificationOctober 31, 2020February 1,
2020		November 2, 2019
Interest rate swap$600,000 3.00 %Other non-current liabilities$(22,670)$(20,035)$(21,200)
Interest rate swap360,000 3.00 %Other non-current liabilities(13,587)(11,997)(12,694)
Interest rate swap240,000 3.00 %Other non-current liabilities(9,061)(8,003)(8,468)
Net carrying amount$1,200,000 Total liabilities$(45,318)$(40,035)$(42,362)
v3.20.2
Description of Business (Detail) - Oct. 31, 2020
warehouse_club
gas_station
state
Organization, Consolidation and Presentation of Financial Statements [Abstract]      
Number of facilities operated 219 149  
Number of states with operations     17
v3.20.2
Revenue Recognition - Additional Information (Detail)
 3 Months Ended 9 Months Ended
Oct. 31, 2020
USD ($)
Nov. 02, 2019
USD ($)
Oct. 31, 2020
USD ($)
segment
Nov. 02, 2019
USD ($)
Feb. 01, 2020
USD ($)
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]          
Percentage of cash back earned     2.00%    
Maximum annual cash back amount     $ 500    
Cash back in form of electronic awards issued     $ 10    
Cash back in form of electronic awards issued, expiration period     6 months    
Club membership term     12 months    
Revenue recognized $ 3,731,669,000 $ 3,229,404,000 $ 11,483,404,000 $ 9,718,382,000  
Number of reportable segments | segment     1    
My BJ's Perks Mastercard          
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]          
Percentage of cash back earned     5.00%    
Card outside of BJ's          
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]          
Percentage of cash back earned     2.00%    
BJ's Perks Rewards - earned awards          
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]          
Deferred revenue 24,600,000 27,800,000 $ 24,600,000 27,800,000 $ 26,700,000
BJ's Perks Rewards - royalty revenue          
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]          
Deferred revenue 13,500,000 14,000,000.0 13,500,000 14,000,000.0 14,800,000
Membership          
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]          
Deferred revenue 151,200,000 135,800,000 151,200,000 135,800,000 144,000,000.0
Revenue recognized 84,946,000 76,517,000 247,001,000 224,587,000  
Gift card programs          
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]          
Deferred revenue 9,000,000.0 9,100,000 9,000,000.0 9,100,000 $ 10,300,000
Revenue recognized $ 9,200,000 $ 10,500,000 $ 28,700,000 $ 33,000,000.0  
Net sales | Revenue from rights concentration risk          
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]          
Concentration risk percentage     96.00%    
Total revenues | Revenue from rights concentration risk          
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]          
Concentration risk percentage     94.00%    
v3.20.2
Revenue Recognition - Remaining Performance Obligations (Details) - BJ's Perks Rewards - royalty revenue - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-11-01
$ in Millions
Oct. 31, 2020
USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue expected to be recognized $ 12.0
Revenue expected to be recognized, period 3 months
v3.20.2
Revenue Recognition - Summary of Disaggregation of Revenue (Detail)
 3 Months Ended 9 Months Ended
Oct. 31, 2020
Nov. 02, 2019
Oct. 31, 2020
Nov. 02, 2019
Grocery        
Disaggregation of Revenue [Line Items]        
Revenue recognized (as a percent) 77.00% 74.00% 78.00% 73.00%
General Merchandise & Services        
Disaggregation of Revenue [Line Items]        
Revenue recognized (as a percent) 13.00% 13.00% 13.00% 13.00%
Gasoline and Other        
Disaggregation of Revenue [Line Items]        
Revenue recognized (as a percent) 10.00% 13.00% 9.00% 14.00%
v3.20.2
Related Party Transactions (Detail) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Oct. 31, 2020
Nov. 02, 2019
Oct. 31, 2020
Nov. 02, 2019
Advantage Solutions Inc.        
Related Party Transaction [Line Items]        
Costs for services rendered $ 1.3 $ 10.2 $ 13.5 $ 32.6
v3.20.2
Debt and Credit Arrangements - Schedule of Debt (Detail) - USD ($)
$ in Thousands
Oct. 31, 2020
Feb. 01, 2020
Nov. 02, 2019
Debt Instrument [Line Items]      
Unamortized debt discount and debt issuance cost $ (6,224) $ (12,531) $ (13,435)
Less: current portion (260,000) (343,377) (449,377)
Long-term debt 845,696 1,337,308 1,339,700
ABL Facility      
Debt Instrument [Line Items]      
Long-term debt, gross 310,000 378,000 484,000
First Lien Term Loan      
Debt Instrument [Line Items]      
Long-term debt, gross $ 801,920 $ 1,315,216 $ 1,318,512
v3.20.2
Debt and Credit Arrangements - Additional Information (Detail)
 9 Months Ended
Oct. 30, 2020
USD ($)
Jul. 13, 2020
USD ($)
Jan. 29, 2020
USD ($)
Nov. 01, 2019
USD ($)
Oct. 31, 2020
USD ($)
Nov. 02, 2019
USD ($)
Feb. 01, 2020
USD ($)
Debt Instrument [Line Items]              
Proceeds from ABL Facility $ 260,000,000.0       $ 996,000,000 $ 1,114,000,000  
Write-off of deferred debt issuance cost 2,800,000            
Paydown of First Lien Term Loan $ 360,000,000.0       $ 510,000,000 200,000,000  
ABL Facility              
Debt Instrument [Line Items]              
Debt instrument, decrease in basis spread upon achievement of net leverage ratio threshold         0.125%    
Debt instrument, net leverage ratio threshold for interest rate adjustment         3.00    
Outstanding debt         $ 310,000,000.0 484,000,000 $ 378,000,000
Outstanding letter of credit         21,200,000 $ 27,300,000 $ 17,500,000
Proceeds from ABL Facility       $ 200,000,000.0      
ABL Facility | Revolving Credit Facility              
Debt Instrument [Line Items]              
Borrowing capacity         $ 950,000,000.0    
Interest rate at end of period         1.27% 2.91% 2.78%
Borrowing availability         $ 670,800,000 $ 488,700,000 $ 496,300,000
ABL Facility | Revolving Credit Facility | London Interbank Offered Rate (LIBOR) | Minimum              
Debt Instrument [Line Items]              
Debt instrument, basis spread on variable rate         1.25%    
ABL Facility | Revolving Credit Facility | London Interbank Offered Rate (LIBOR) | Maximum              
Debt Instrument [Line Items]              
Debt instrument, basis spread on variable rate         1.75%    
ABL Facility | Revolving Credit Facility | Base rate | Minimum              
Debt Instrument [Line Items]              
Debt instrument, basis spread on variable rate         0.25%    
ABL Facility | Revolving Credit Facility | Base rate | Maximum              
Debt Instrument [Line Items]              
Debt instrument, basis spread on variable rate         0.75%    
ABL Facility | Term Loan              
Debt Instrument [Line Items]              
Borrowing capacity         $ 50,000,000.0    
ABL Facility | Term Loan | London Interbank Offered Rate (LIBOR) | Minimum              
Debt Instrument [Line Items]              
Debt instrument, basis spread on variable rate         2.00%    
ABL Facility | Term Loan | London Interbank Offered Rate (LIBOR) | Maximum              
Debt Instrument [Line Items]              
Debt instrument, basis spread on variable rate         2.50%    
ABL Facility | Term Loan | Base rate | Minimum              
Debt Instrument [Line Items]              
Debt instrument, basis spread on variable rate         1.00%    
ABL Facility | Term Loan | Base rate | Maximum              
Debt Instrument [Line Items]              
Debt instrument, basis spread on variable rate         1.50%    
First Lien Term Loan              
Debt Instrument [Line Items]              
Borrowing capacity     $ 1,315,200,000        
Debt instrument, net leverage ratio threshold for interest rate adjustment         3.50    
Outstanding debt         $ 801,920,000 $ 1,318,512,000 $ 1,315,216,000
Interest rate at end of period         2.15% 4.67% 3.90%
Write-off of deferred debt issuance cost   $ 1,300,000 $ 100,000 $ 2,000,000.0      
Step down in interest rate upon achievement of certain debt rating upgrades     0.0025        
Refinancing and third-party fees     $ 1,700,000        
Paydown of First Lien Term Loan   $ 150,000,000.0          
First Lien Term Loan | London Interbank Offered Rate (LIBOR)              
Debt Instrument [Line Items]              
Debt instrument, basis spread on variable rate   2.00% 2.25%        
First Lien Term Loan | Base rate              
Debt Instrument [Line Items]              
Debt instrument, basis spread on variable rate     1.25%        
v3.20.2
Interest Expense, net (Detail) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Oct. 31, 2020
Nov. 02, 2019
Oct. 31, 2020
Nov. 02, 2019
Other Income and Expenses [Abstract]        
Interest on debt $ 15,915 $ 23,741 $ 52,860 $ 74,439
Interest on capital lease and financing obligations 972 624 2,971 1,883
Debt issuance costs amortization 629 696 1,934 2,087
Original issue discount amortization 477 627 1,535 1,882
Loss on debt extinguishment 2,794 2,032 4,077 2,032
Loss on cash flow hedge 5,097 0 5,097 0
Capitalized interest (2) (18) (7) (49)
Interest expense, net $ 25,882 $ 27,702 $ 68,467 $ 82,274
v3.20.2
Stock Incentive Plans - Additional Information (Detail)
 3 Months Ended 9 Months Ended
Jun. 27, 2019
$ / shares
shares
Oct. 31, 2020
USD ($)
shares
Aug. 01, 2020
USD ($)
May 02, 2020
USD ($)
Nov. 02, 2019
USD ($)
shares
Aug. 03, 2019
USD ($)
Oct. 31, 2020
USD ($)
offeringPeriod
shares
Nov. 02, 2019
USD ($)
shares
Feb. 01, 2020
shares
Dec. 19, 2019
USD ($)
Jun. 14, 2018
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                      
Number of shares authorized (in shares)   300,000,000     300,000,000   300,000,000 300,000,000 300,000,000    
Stock-based compensation expense | $   $ 8,700,000     $ 5,200,000   $ 23,200,000 $ 14,000,000.0      
Common stock repurchases (in dollars per share) | $ / shares $ 25.41                    
Shares reacquired to satisfy tax withholding (in shares)   6,727     2,575   211,995 143,205      
Shares reacquired to satisfy tax withholding, value | $         $ 100,000   $ 6,500,000 $ 3,800,000      
Share repurchase program, amount authorized for repurchase | $                   $ 250,000,000.0  
Share repurchase program, remaining amount authorized for repurchase | $   $ 161,900,000         $ 161,900,000        
Common stock repurchases | $   $ 50,138,000 $ 38,460,000 $ 6,073,000 68,000 $ 67,237,000          
Common Stock                      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                      
Common stock issued (in shares) 9,977,024                    
Treasury Stock, Common                      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                      
Common stock repurchases (in shares) 2,500,000 1,200,000         2,299,282        
Common stock repurchases | $   $ 50,000,000.0         $ 88,100,000        
2018 Plan                      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                      
Number of shares authorized (in shares)   13,148,058         13,148,058        
Number of shares reserved and not issued (in shares)   5,893,480         5,893,480        
2011 Plan and the 2012 Director Plan                      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                      
Number of shares reserved and not issued (in shares)   985,369         985,369        
ESPP                      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                      
Number of shares reserved and not issued (in shares)   1,799,409         1,799,409       973,014
Stock-based compensation expense | $   $ 200,000     $ 100,000   $ 500,000 $ 300,000      
Annual increase in number of shares reserved for issuance (in shares)                     486,507
Annual increase in number of shares reserved for issuance, percent of shares outstanding                     0.50%
Number of offering periods | offeringPeriod             2        
Offering period             6 months        
v3.20.2
Stock Incentive Plans - Schedule of Company's Stock Award Activity (Detail)
shares in Thousands
 9 Months Ended
Oct. 31, 2020
$ / shares
shares
Stock Options  
Stock Options, Shares  
Outstanding, beginning balance (in shares) | shares 5,213
Granted (in shares) | shares 441
Forfeited/canceled (in shares) | shares (91)
Exercised/vested (in shares) | shares (1,769)
Outstanding, ending balance (in shares) | shares 3,794
Stock Options, Weighted Average Exercise Price  
Outstanding, beginning balance (in dollar per share) | $ / shares $ 14.00
Granted (in dollar per share) | $ / shares 25.07
Forfeited/canceled (in dollar per share) | $ / shares 21.78
Exercised/vested (in dollar per share) | $ / shares 9.57
Outstanding, ending balance (in dollar per share) | $ / shares $ 17.17
Restricted Stock  
Other Awards, Shares  
Outstanding, beginning balance (in shares) | shares 1,445
Granted (in shares) | shares 711
Forfeited/canceled (in shares) | shares (95)
Exercised/vested (in shares) | shares (544)
Outstanding, ending balance (in shares) | shares 1,517
Other Awards, Weighted Average Grant Date Fair Value  
Outstanding, beginning balance (in dollar per share) | $ / shares $ 25.22
Granted (in dollar per share) | $ / shares 25.65
Forfeited/canceled (in dollar per share) | $ / shares 24.45
Exercised/vested (in dollar per share) | $ / shares 30.75
Outstanding, ending balance (in dollar per share) | $ / shares $ 25.65
Restricted Stock Units  
Other Awards, Shares  
Outstanding, beginning balance (in shares) | shares 30
Granted (in shares) | shares 31
Forfeited/canceled (in shares) | shares 0
Exercised/vested (in shares) | shares (32)
Outstanding, ending balance (in shares) | shares 29
Other Awards, Weighted Average Grant Date Fair Value  
Outstanding, beginning balance (in dollar per share) | $ / shares $ 25.83
Granted (in dollar per share) | $ / shares 33.38
Forfeited/canceled (in dollar per share) | $ / shares 0
Exercised/vested (in dollar per share) | $ / shares 34.54
Outstanding, ending balance (in dollar per share) | $ / shares $ 34.54
Performance Stock  
Other Awards, Shares  
Outstanding, beginning balance (in shares) | shares 0
Granted (in shares) | shares 527
Forfeited/canceled (in shares) | shares 0
Exercised/vested (in shares) | shares 0
Outstanding, ending balance (in shares) | shares 527
Other Awards, Weighted Average Grant Date Fair Value  
Outstanding, beginning balance (in dollar per share) | $ / shares $ 0
Granted (in dollar per share) | $ / shares 23.96
Forfeited/canceled (in dollar per share) | $ / shares 0
Exercised/vested (in dollar per share) | $ / shares 0
Outstanding, ending balance (in dollar per share) | $ / shares $ 23.96
v3.20.2
Income Taxes (Detail)
 3 Months Ended 9 Months Ended
May 01, 2021
Oct. 31, 2020
Nov. 02, 2019
Oct. 31, 2020
Nov. 02, 2019
Income Tax Disclosure [Line Items]          
Effective income tax rate   25.30% 24.60% 24.20% 22.60%
Forecast          
Income Tax Disclosure [Line Items]          
Effective income tax rate 27.10%        
v3.20.2
Fair Value Measurements (Detail) - USD ($)
$ in Thousands
Oct. 31, 2020
Feb. 01, 2020
Nov. 02, 2019
Carrying Amount      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Debt $ 1,111,920 $ 1,693,216 $ 1,802,512
Fair Value      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Debt 1,098,800 1,697,990 1,802,288
First Lien Term Loan | Carrying Amount      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Debt 801,920 1,315,216 1,318,512
First Lien Term Loan | Fair Value      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Debt 788,800 1,319,990 1,318,288
ABL Facility | Carrying Amount      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Debt 310,000 378,000 484,000
ABL Facility | Fair Value      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Debt $ 310,000 $ 378,000 $ 484,000
v3.20.2
Earnings Per Share - Summary of Basic and Diluted Net Income Per Share Attributable to Common Stockholders (Detail) - shares
 3 Months Ended 9 Months Ended
Oct. 31, 2020
Nov. 02, 2019
Oct. 31, 2020
Nov. 02, 2019
Earnings Per Share [Abstract]        
Weighted-average common shares outstanding, used for basic computation (in shares) 136,011,473 135,520,854 136,269,239 136,300,591
Plus: Incremental shares of potentially dilutive securities (in shares) 3,048,987 2,671,014 2,734,180 3,089,663
Weighted-average number of common and dilutive potential common shares outstanding (in shares) 139,060,460 138,191,868 139,003,419 139,390,254
v3.20.2
Earnings Per Share - Additional Information (Detail) - shares
 3 Months Ended 9 Months Ended
Oct. 31, 2020
Nov. 02, 2019
Oct. 31, 2020
Nov. 02, 2019
Stock options        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Stock awards not included in the computation of diluted earnings (in shares) 0 740,655 368,554 589,145
Restricted shares        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Stock awards not included in the computation of diluted earnings (in shares) 1,252 553,986 260,503 434,375
v3.20.2
Derivative Financial Instruments - Additional Information (Details)
 3 Months Ended 9 Months Ended
Oct. 30, 2020
USD ($)
derivative_instrument
Nov. 13, 2018
derivative_instrument
Oct. 31, 2020
USD ($)
Nov. 02, 2019
USD ($)
Oct. 31, 2020
USD ($)
Nov. 02, 2019
USD ($)
Feb. 01, 2020
USD ($)
Feb. 13, 2019
USD ($)
Derivative [Line Items]                
Proceeds from ABL Facility $ 260,000,000.0       $ 996,000,000 $ 1,114,000,000    
Extinguished debt 100,000,000.0              
Paydown of First Lien Term Loan $ 360,000,000.0       510,000,000 200,000,000    
Number of derivative instruments determined ineffective | derivative_instrument 1              
Losses reclassified from comprehensive income to interest expense $ 5,100,000   $ (3,670,000) $ 0 (3,670,000) 0    
Interest rate swaps                
Derivative [Line Items]                
Number of derivative instruments entered | derivative_instrument   3            
Amount of hedged item               $ 1,200,000,000
Average fixed interest rate               3.00%
Unrealized gains (losses)     8,100,000 (1,100,000) (4,500,000) (22,300,000)    
Designated as hedging instrument | Interest rate swaps                
Derivative [Line Items]                
Derivative liabilities     45,300,000 $ 42,400,000 45,300,000 $ 42,400,000 $ 40,000,000.0  
Notional Amount     1,200,000,000   1,200,000,000      
Designated as hedging instrument | Interest rate swap 3                
Derivative [Line Items]                
Notional Amount     $ 240,000,000   $ 240,000,000      
v3.20.2
Derivative Financial Instruments - Fair Values of Derivative Instruments (Details) - Designated as hedging instrument - USD ($)
Oct. 31, 2020
Feb. 01, 2020
Nov. 02, 2019
Interest rate swap 1      
Derivatives, Fair Value [Line Items]      
Notional Amount $ 600,000,000    
Fixed Rate 3.00%    
Interest rate swap 1 | Other non-current liabilities      
Derivatives, Fair Value [Line Items]      
Total liabilities $ (22,670,000) $ (20,035,000) $ (21,200,000)
Interest rate swap 2      
Derivatives, Fair Value [Line Items]      
Notional Amount $ 360,000,000    
Fixed Rate 3.00%    
Interest rate swap 2 | Other non-current liabilities      
Derivatives, Fair Value [Line Items]      
Total liabilities $ (13,587,000) (11,997,000) (12,694,000)
Interest rate swap 3      
Derivatives, Fair Value [Line Items]      
Notional Amount $ 240,000,000    
Fixed Rate 3.00%    
Interest rate swap 3 | Other non-current liabilities      
Derivatives, Fair Value [Line Items]      
Total liabilities $ (9,061,000) (8,003,000) (8,468,000)
Interest rate swaps      
Derivatives, Fair Value [Line Items]      
Notional Amount 1,200,000,000    
Total liabilities (45,300,000) (40,000,000.0) (42,400,000)
Interest rate swaps | Other non-current liabilities      
Derivatives, Fair Value [Line Items]      
Total liabilities $ (45,318,000) $ (40,035,000) $ (42,362,000)
v3.20.2
Subsequent Events (Details) - Interest rate swap 2 - Designated as hedging instrument - USD ($)
Nov. 10, 2020
Oct. 31, 2020
Subsequent Event [Line Items]    
Notional amount   $ 360,000,000
Subsequent Event    
Subsequent Event [Line Items]    
Payment for termination of derivative $ 13,100,000