BJ's Wholesale Club
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| BJ's Wholesale Club | |
|---|---|
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| Type | Public (NYSE: BJ) |
| Founded | 1984 |
| Headquarters | Natick, Massachusetts |
| Key people | Herbert Zarkin, CEO |
| Industry | Retail |
| Products | Produce, meat, seafood, fresh baked goods, dairy, flowers, clothing, books, software, home electronics, jewelry, and furniture. |
| Revenue | $9.01 billion (2008) |
| Employees | 20,800[1] |
| Website | www.bjs.com |
BJ's Wholesale Club, Inc. (NYSE: BJ) is a membership-only warehouse club chain operating on the United States East Coast, as well as in the state of Ohio.[2] The company is also ranked 287 on Fortune magazine's 2007 listing of America's 500 largest public corporations.[3]
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[edit] History
The company was started by Zayre, a discount department store chain, in 1984, on the Medford/Malden border in Massachusetts. This was and still is the company's flagship store.
When Zayre sold their own nameplate to rival discount chain Ames, TJX Companies was formed. TJX spun off their warehouse division, consisting of BJ's and now defunct HomeClub (later known as HomeBase, then House2Home), to form Waban, Inc. Later, Waban spun off BJ's to become an independent company headquartered in Natick, Massachusetts.
The letters B and J stand for Beverly Jean, a daughter of one of the founders. They are commonly misinterpreted to stand for Berkley and Jensen, a brand name sold in their stores.[4]
[edit] BJ's today
As of April 2008, BJ's operates 178 BJ's clubs in 16 states and employs over 19,500 Team Members (both full and part-time). Its major competitors are Costco and Sams Club.
BJ's offers a variety of special benefits to its members. These include member pricing, a variety of name-brand products at discount wholesale prices, acceptance of all valid manufacturers' coupons, and acceptance of many forms of payment (cash, check, ATM/debit cards, and all major credit cards). Some clubs also accept food stamps. BJ's is the only one of the three major warehouse club chains to regularly accept Visa as a method of payment.
Memberships at BJ's are required for these benefits and are available to individual consumers and businesses. BJ's memberships normally last for 12 months from the date of purchase and are required to be renewed yearly to maintain their validity. As of March 2008, a standard individual membership at BJ's costs $45 per year. In addition, BJ's also has a special "Rewards" membership that may be purchased for an additional $35, allowing 2% of all of a member's purchases to be "rewarded" and redeemed for use towards future BJ's purchases. Business members may apply to purchase BJ's products for resale, and those of nonprofit organizations may apply for tax-exempt privileges (where applicable). Members with expired memberships (if they choose not to renew), as well as non-members are allowed to shop, but are assessed a 5-15% surcharge (depending on the club and the circumstances) on their total, and are not allowed to pay by check. However, if non-members keep their receipts with the surcharges shown on them, and they total to at least $45, they can use that for a membership. To aid in convenience, most BJ's memberships can be renewed at the register during checkout. Note that once the membership is purchased, it is fully refundable within 90 days.[5]
Many of BJ's clubs offer special services to members, such as gas stations, home heating oil, propane filling, an optical department, car rentals, and vacation packages. These services vary from location to location. As of 2008, there were 154 Clubs with optical departments, and 100 Clubs with gas stations. As of 2007, BJ's has decided to close all pharmacy operations in its clubs.
Shoppers at BJ's wholesale club should also keep in mind that they may be subject to a different variety of products depending on which store they visit. Not all clubs carry the same items and therefore it provides a unique shopping experience for each shopper. Generally as a rule of thumb all clubs carry the items listed in the coupon book that is mailed to each members home on a bi-monthly basis, However, at certain times, it is not uncommon for a certain club to not carry a new item immediately due to its higher demand.
As of January 2008, the company has attempted to make all clubs similar. Previously a number of clubs have had music playing 24/7. This has become a normal trend in almost all stores, as of February 2008.
[edit] Home brands
- Berkeley & Jensen: BJ's own house-brand which makes many products ranging from foodstuffs and health care products to tires and recordable CDs.
- Lanesboro: BJ's own line of apparel, including jackets, undergarments, sportswear, workwear, and accessories.
- Rozzano: BJ's line of Italian foods, including pasta and pasta sauces, fresh cheeses, and frozen pizzas.
- Wellesley Farms: BJ's upscale, private-label line of fresh foods. The line includes a full selection of dairy products, heat-and-eat meals, produce and fresh and smoked meats
- Executive Choice: Office Supplies and other hardline goods
[edit] Distribution centers
As of 2008, three cross dock distribution centers are in operation.
- Uxbridge, MA
- Size: 618,000 square feet.
- Serving 70 Clubs
- Owned Facility
- Burlington, NJ
- Size: 634,000 square feet.
- Serving 63 Clubs
- Leased Facility
- Jacksonville, FL
- Size: 480,000 square feet.
- Serving 45 Clubs
- Owned Facility
[edit] See also
- Costco - Competitor
- Sam's Club - Competitor
[edit] References
- ^ Form 10-K
- ^ BJ's Wholesale Club - BJ's Investor
- ^ FORTUNE 500 2007: Full List 201-300
- ^ Northoftampa: BJ's, rival of Sam's, Costco, begins hiring
- ^ FAQ - BJ's Wholesale Club
