Anyone have any experience shopping at BJs?

I read this article in Barrons, which is bullish on BJs, especially when compared to competitors like Costco (P/E ~40), Walmart (P/E ~40). BJs has a PE around 20.

I've never shopped at a BJs, but am studying grocers in general because of my possible investment in a bodega near where I live. I've also had my eye on Costco for quite some time.

Would love to hear from anyone who has shopped at BJs with how their experience was!

Some key points from the article:

The Business

~8 million members across 260 clubs, primarily on the East Coast
Positioning: bulk value without extreme bulk — more grocery variety and manageable sizes vs. Costco
Claims prices are ~25% cheaper than supermarkets, plus gas stations and in-club services
Membership model remains strong: >90% renewal rate and ~6% membership growth, even after a fee hike

Growth Story Is Real

12 straight quarters of market share gains
Consistent traffic growth and rising comparable sales
Aggressive expansion plan: targeting 350+ clubs over time, moving into new states like Texas and Alabama
Management guiding for 2–3% comp sales growth and ~7% EPS growth next year

Strategic Drivers

“Fresh 2.0” – Upgraded perishables and store presentation → more premium grocery feel
Private label expansion – Now 26% of sales, improving margins and customer loyalty
Digital growth – E-commerce comps up 30% YoY, helping attract younger, higher-engagement shoppers

Risks to Watch

Comp sales slowdown or weaker membership growth
Margin pressure from inflation or tariffs
Intense competition across grocery, big-box, and warehouse clubs

Big Picture

BJ’s isn’t trying to be Costco. It’s building a high-frequency, grocery-heavy membership model with steady expansion, improving private labels, and growing digital engagement. That’s a defensive, cash-generative retail model trading at a meaningful discount to peers.

Adding this one to my research queue.