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Shareholders' Equity
 9 Months Ended
Sep. 30, 2025
Equity [Abstract]  
Shareholders' Equity

9. SHAREHOLDERS’ EQUITY

Warrant

BJ’s Act III, LLC’s (“Act III”) warrant for 876,949 shares of common stock at an exercise price of $26.94 was set to expire on May 4, 2025, five years following the issuance. On December 30, 2024, the Company agreed to extend the termination date of the warrant by two years to May 4, 2027. The warrant extension was executed in conjunction with a Cooperation Agreement that contains material non-shareholder restrictions, such as those limiting Act III's ability to purchase additional Company shares.

Stock Repurchases

During the thirty-nine weeks ended September 30, 2025, we repurchased and retired approximately 1.8 million shares of our common stock at an average price of $33.95 per share for approximately $62.4 million, which is recorded as a reduction in common stock, with any excess charged to retained earnings. Our Board of Directors approved a $50 million increase to our share repurchase program in February 2024, another $50 million increase in February 2025, and an additional $75 million increase in October 2025. As of September 30, 2025, we had $23.5 million available under our authorized $600 million share repurchase program, and as of November 5, 2025, we have approximately $94 million available under our authorized $675 million share repurchase program. Repurchases may be made at any time.

Cash Dividends

We currently do not pay any cash dividends. Any payment of quarterly cash dividends will be subject to our Board of Directors determining that the payment of dividends is in the best interest of the Company and its shareholders.