What BJ's Wholesale Club Holdings, Inc. told the SEC could break it.

BJ's is concentrated in the eastern half of the US, with the New York metropolitan area (NYC, Long Island, Hudson Valley, north/central NJ, parts of CT and PA) accounting for ~23% of net sales in fiscal 2025 — making it vulnerable to adverse economic or other developments in that region.

“Our financial and operational performance is dependent on our operations in the New York metropolitan area, which accounted for 23% of net sales in fiscal year 2025.”

BJ's imports ~2% of merchandise directly from overseas (China, Vietnam, Bangladesh, India) and many domestically purchased products are themselves imported — exposing it to tariffs, supply-chain disruptions, shipping/freight constraints and other foreign-sourcing risks.

“We imported approximately 2% of our merchandise directly from overseas countries such as China, Vietnam, Bangladesh and India during fiscal year 2025. In addition, many of the products we purchase from domestic vendors are imported and would be subject to tariffs or other disruptions before reaching our clubs.”

BJ's does not manufacture any goods — including its Wellsley Farms and Berkley Jensen private labels (~27% of net sales ex-gasoline) — and relies on suppliers and contract manufacturers to ensure regulatory compliance, seeking certifications, warranties and indemnification rather than direct control.

“As is common in our industry, we rely on our suppliers and contract manufacturers, including those of our private label products, to ensure that the products they manufacture and sell to us comply with all applicable regulatory and legislative requirements. We do not directly manufacture any goods.”