BJ's Wholesale to hike membership fees for first time in 7 years
Standard BJ's Wholesale membership will cost $60
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The cost of a BJ’s Wholesale Club membership will get pricier in January.
The company plans to raise its standard membership for its warehouse stores to $60 per year and its premium Club+ membership to $120 beginning Jan. 1, BJ’s Wholesale said Thursday.
Those hikes — the first in seven years — represent increases of $5 and $10, respectively, from the memberships’ current prices.
A BJ's Wholesale Club location in West Hartford, Connecticut, on Aug. 14. (Joe Buglewicz/Bloomberg via Getty Images / Getty Images)
BJ'S WHOLESALE TO OPEN MORE LOCATIONS
"Since the last membership fee increase, the Company has transformed its business with a relentless focus on delivering value to members," BJ’s Wholesale said, adding that it will enable the retailer to "invest in an even stronger value proposition" for membership cardholders.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BJ | BJS WHSL CLUB HLDGS INC | 96.75 | +3.96 | +4.27% |
The move also follows that of competitor Costco, which implemented its own increase in September.
COSTCO'S FIRST MEMBERSHIP FEE INCREASE IN 7 YEARS NOW IN EFFECT
BJ’s Wholesale said its membership count stood at 7.5 million at the end of the third quarter.
Its membership fees have brought BJ’s Wholesale nearly $339.49 million over the first three quarters of the year, including $114.98 million in the third-quarter.
BJ’s Wholesale said its membership count stood at 7.5 million at the end of the third quarter. (Joe Buglewicz/Bloomberg via Getty Images / Getty Images)
Membership fee income made up 2.1% of the $14.61 billion in total revenues that BJ’s Wholesale reported for the third-quarter. The company’s net sales, which clocked in at $14.3 billion, accounted for the vast majority.
THE PERKS OFFERED TO COSTCO, BJ'S WHOLESALE AND SAM'S CLUB MEMBERS
The pricier Club+ membership comes with additional perks compared to the standard membership, including things like cashback rewards and fuel discounts.
BJ’s Wholesale said two free same-day deliveries on eligible orders of at least $50 per membership period will become available to Club+ members in January.