BJ's Wholesale Club Reports March Sales; Adjusts February 2004 Sales to Reflect Implementation of Emerging Issues Task Force Issue No. 03-10.

Business Editors

NATICK, Mass.--(BUSINESS WIRE)--April 6, 2004

BJ's Wholesale Club, Inc. (BJ: NYSE) today reported that sales for March 2004 increased by 12.6% to $620.3 million from $551.1 million in March 2003. Comparable club sales increased by 7.0% for the month of March, with no incremental contribution from sales of gasoline. These results include adjustments to sales to reflect Emerging Issues Task Force Issue No. 03-10 ("EITF 03-10"), "Application of Issue No. 02-16 by Resellers to Sales Incentives Offered to Consumers by Manufacturers."

Commenting on March results, BJ's president and CEO, Mike Wedge, said, "Sales results for March reflect continued strong sales of food, which increased by approximately 9% on a comparable club basis. Comparable club sales of general merchandise increased by approximately 4%."

                        Sales Results for March
                           ($ in thousands)
    Five Weeks Ended                   % Change
  April 3,      April 5,           Net            Comp.
    2004          2003            Sales           Sales
 $ 620,321     $ 551,125          12.6%            7.0%

    Nine Weeks Ended                   % Change
  April 3,      April 5,           Net            Comp.
   2004           2003            Sales           Sales
$1,105,527     $ 981,261          12.7%            7.1%

The Company provided the following additional information regarding March sales:

On a comparable club basis, sales increased in all major markets, with a double-digit increase in the Southeast region, high single-digit increases in Metro New York, Upstate New York and the Mid-Atlantic, and a mid single-digit increase in New England.

Comparable club sales were strongest in week one and softest in week three. Results for week three reflect last year's strong sales of stock-up related items stimulated by the onset of the war in Iraq.

Excluding sales of gasoline, the average ticket amount for the month of March rose by approximately 1% and traffic increased by approximately 6%.

For the month of March, categories with the strongest sales increases included candy, computer equipment, dairy, health & beauty aids, household chemicals, meat, prepared foods, paper products, and TVs. Weaker categories included canned goods, cigarettes, lawn & garden, office supplies, sporting goods and summer seasonal.

The Company also announced today that it is adjusting its previously reported sales results for February 2004 to reflect accounting changes required by EITF 03-10. EITF 03-10 addresses the accounting for manufacturers' coupons or rebates which are tendered by consumers to retailers. EITF 03-10 provides guidance as to whether the reimbursement received by retailers for honoring these incentives should be included in retailers' sales or should be accounted for as a reduction of sales and cost of sales.

EITF No. 03-10, which is effective for BJ's fiscal 2004, makes a distinction between general vendor funded incentives that are redeemable at BJ's and at other retailers and those incentives which are redeemable at BJ's only. BJ's will continue to account for general vendor funded incentives that are redeemable at BJ's and at other retailers by including them in their reported sales. Incentives that are redeemable only at BJ's will be accounted for as a reduction of BJ's sales and cost of sales. This change will have no effect on BJ's gross margin dollars, net income or cash flows.

The Company is implementing EITF 03-10 effective as of the February sales reporting period in 2004. As permitted by the transition provisions of EITF 03-10, BJ's is reclassifying the prior year's sales and cost of sales for comparative purposes. As a result, the Company is reducing its February 2004 sales increase to 12.8% from 13.6%. The implementation has the effect of reducing the comparable club sales increase from February 2003 to February 2004 to 7.2% from 7.9%. The Company estimates the impact on comparable club sales of implementing EITF 03-10 for the full year to be a decrease of .2% to .3%. This change will have no impact on gross margin dollars, net income or cash flows.

BJ's introduced the wholesale club concept to New England in 1984 and has since expanded to become a leading warehouse chain in the eastern United States. The Company currently operates 150 clubs and 78 gas stations compared with 140 clubs and 69 gas stations one year ago. BJ's press releases and filings with the SEC are available on the Internet at www.bjs.com

Forward-Looking Statements

Statements contained in this press release about the expected impact of implementing EITF 03-10 and all other statements that are not purely historical are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements. Factors that may cause or contribute to such differences include, without limitation, levels of customer demand, economic and weather conditions, state and local regulation in the Company's markets, and competitive conditions. These factors are discussed in the Company's Annual Report on SEC Form 10-K for the fiscal year ended February 1, 2003, and subsequent quarterly reports on Form 10-Q. Any forward-looking statements represent our estimates only as of today and should not be relied upon as representing our estimates as of any subsequent date. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if our estimates change.