Soaring fuel prices following the conflict with Iran drove BJ's Wholesale members to clubs in "record numbers," with comparable gallon growth increasing from about 1% in February to more than 10% during both March and April, Chief Executive Bob Eddy said during a conference call discussing financial results for the fiscal 2026 first quarter ended May 2.

Same-store gallons in the broader market were down roughly 4% during that period, he said. OPIS data show U.S. gas stations experienced even steeper declines in same-store volume, averaging a 5% drop year to year over the same months.

"Our gas business continued to be a powerful proof point of our value proposition as families increasingly relied on BJ's for savings at the pump," said Eddy, noting that by the end of Q1, retail gas prices rose nearly 50% compared to the start of the quarter.

"In that environment, our role was clear: to help take care of our members by delivering value," he said.

In April alone, Eddy said members spent $143 million more on BJ's fuel than they did a year earlier.

"As consumers adjusted to the higher prices, we did see some modest shifts in behavior, with average gallons per fill-up slightly lower, reflecting the pressure higher prices put on household budgets, as well as more members topping off their tanks more frequently," he said. "In a tough pricing environment, members leaned into BJ's for value, and that showed up clearly in our continued share gains."

BJ's has substantially increased its share of the U.S. fuel market in recent years. But OPIS data show the jolt in Q1 fuel volume, propelled the warehouse club chain to 31st place in the U.S. fuel market based on gas brand market share by visits. BJ's share rose to 0.85% during the period, up from 0.79% a year earlier, passing up Texaco and Sinclair, according to OPIS MarketSharePro.

In addition to competitive gas prices, executives attributed market share gains to additional club openings. The company opened its first club in Texas during the quarter, expanding BJ's to 22 states. That was followed by three more Texas club openings in May. It also announced plans to open clubs later this year in Frankfort, Ky.; Ocala, Lecanto and Port St. Lucie, Fla.; and Portage, Ind.

Last year, BJ's committed to opening 25 to 30 new clubs over two years. With a dozen openings planned for 2026, it expects to deliver 26 clubs against that plan and to continue this pace in 2027 and 2028. BJ's now operates 267 clubs and 205 gas stations.

Though fuel volume increased, Eddy said rapid price spikes early in the quarter pressured gas margins. However, the club's response to the period of volatility brought Q1 fuel profit dollars in line with expectations, he said.

This content was created by Oil Price Information Service, which is operated by Dow Jones & Co. OPIS is run independently from Dow Jones Newswires and The Wall Street Journal.

Reporting by Donna Harris, dharris@opisnet.com; Editing by Steve Cronin, scronin@opisnet.com

(END) Dow Jones Newswires

May 22, 2026 13:24 ET (17:24 GMT)

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