BJ’s Wholesale Club

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Oppenheimer Consumer, Gaming, Lodging & Leisure Conference July 15, 2009 BJ 9s Wholesale Club 2 Forward Looking Statements ®2009 BJ 9s Wholesale Club, Inc. This presentation contains a number of cforward-looking statements, d within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements.

Without limiting the foregoing, the words cbelieves, d canticipates, d cplans, d cestimates, d cexpects d and similar expressions are intended to identify forward-looking statements. There are a number of important factors that could cause actual events or our actual results to differ materially from those indicated by such forward-looking statements. Factors that may cause or contribute to such differences include, without limitation, levels of gasoline profitability, levels of customer demand, economic and weather conditions, state and local regulation in the Company's markets, competitive conditions, success in selling lease obligations for closed clubs, credit and debit card claims, and other factors discussed in our 2008 Annual Report on Form 10-K.

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 ... more. less.

to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if our estimates change. 3 BJ 9s Wholesale Club ®2009 BJ 9s Wholesale Club, Inc. Founded in 1984 IPO in 1997 NYSE: BJ Fortune 500 Ranking for 2008: # 269 4 BJ 9s Wholesale Club ®2009 BJ 9s Wholesale Club, Inc. The Wholesale Club of Choice for Families Wide selection of merchandise 3 7,200 SKUs Supermarket and bulk sizes Accept all major credit cards Accept manufacturers 9 coupons Offer self check-out and Express check-out 5 ®2009 BJ 9s Wholesale Club, Inc. 80% of sales to Inner Circle members 75% of sales in food and consumable items found in supermarkets BJ 9s Wholesale Club 6 BJ 9s Wholesale Club ®2009 BJ 9s Wholesale Club, Inc. Real Estate Strategy Smaller club = lower breakeven Cluster clubs to achieve strong name recognition Maximize efficiencies of: Management support Logistics Marketing 7 BJ 9s Wholesale Club US Warehouse Club Competitive Landscape BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ 8 BJ BJ BJ BJ BJ BJ US Warehouse Club Competitive Landscape C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C BJ 9s 15 states Costco 40 states BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ 9s Wholesale Club C C C C C C C C C C C C C C BJ BJ C C 9 BJ 9s Wholesale Club BJ BJ S S US Warehouse Club Competitive Landscape C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C C S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S C C C C C C BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ BJ 9s 15 states Costco 40 states Sam 9s 48 states C C C C C C C C S S S S S S S S S S C C C C S S C C C C C C BJ BJ 10 BJ 9s Wholesale Club ®2009 BJ 9s Wholesale Club, Inc. Primary Non-Club Competitors Specialty Retailers Supercenters Supermarkets 11 BJ 9s Wholesale Club ®2009 BJ 9s Wholesale Club, Inc. Largest Opportunity 3 Supermarkets 12 BJ 9s Wholesale Club ®2009 BJ 9s Wholesale Club, Inc. Lower Cost Structure Lower SG&A Expense Lower Shrink Better Value Savings of 30% on a basket of like items Treasure Hunt Great values of non-food items add excitement and fun BJ 9s Advantages vs. Supermarkets 13 BJ 9s Wholesale Club ®2009 BJ 9s Wholesale Club, Inc. Distribution SATELLITE OPERATIONS SATELLITE OPERATIONS PERISHABLE / FROZEN PERISHABLE / FROZEN J a c k sonvil l e Burlington Connecticut 11 Delaware 3 Florida 29 Georgia 8 Maine 2 Maryland 9 Massachusetts 20 New Hampshire 6 New Jersey 19 New York 35 North Carolina 8 Ohio 6 Pennsylvania 13 Rhode Island 3 Virginia 10 Total 182 Club Locations By State Ux br i dge DISTRIBUTION CENTERS DISTRIBUTION CENTERS 3 3 SELF RUN SELF RUN 14 BJ 9s Wholesale Club ®2009 BJ 9s Wholesale Club, Inc. Self-run Distribution Centers Burlington, NJ Burlington, NJ Uxbridge, MA Uxbridge, MA Jacksonville, FL Jacksonville, FL 618,000 Sq Ft 239 Doors 560 Trailer Spaces 480,000 Sq Ft 176 Doors 516 Trailer Spaces 630,000 Sq Ft 232 Doors 690 Trailer Spaces 15 BJ 9s Wholesale Club ®2009 BJ 9s Wholesale Club, Inc. Improve BJ 9s Member Experience Improve and Expand Fresh Food Assortments Renovate and Upgrade Clubs Invest in Growth 6 - 8 New Clubs Training and Development Reduce Team Member Turnover Groom Future Management Team Information Technology Roadmap Upgrade Financial and Sales Reporting Systems New Vendor for Data Systems Management Upgrade HR Systems Strategic Focus for 2009 16 BJ 9s Wholesale Club ®2009 BJ 9s Wholesale Club, Inc. Perishable Foods Have the Highest Margins 17 BJ 9s Wholesale Club ®2009 BJ 9s Wholesale Club, Inc. Produce: Choice of Bulk or Supermarket Sizes 18 BJ 9s Wholesale Club ®2009 BJ 9s Wholesale Club, Inc. Produce: National Brands, Organic 19 BJ 9s Wholesale Club ®2009 BJ 9s Wholesale Club, Inc. Dairy: Lowest Prices on Highest Quality 20 BJ 9s Wholesale Club ®2009 BJ 9s Wholesale Club, Inc. Dairy: Quality Brands in Supermarket Sizes 21 BJ 9s Wholesale Club ®2009 BJ 9s Wholesale Club, Inc. Catering-Quality Appetizers 22 BJ 9s Wholesale Club ®2009 BJ 9s Wholesale Club, Inc. Frozen Appetizers & Entrees: Catering Quality 23 BJ 9s Wholesale Club ®2009 BJ 9s Wholesale Club, Inc. Meat: Superior Quality vs. Supercenters Superior Value vs. Supermarkets On-site Butcher 24 BJ 9s Wholesale Club ®2009 BJ 9s Wholesale Club, Inc. Bakery: Specialty Market Desserts, Supermarket Sizes 25 BJ 9s Wholesale Club ®2009 BJ 9s Wholesale Club, Inc. Meal Solutions - Fresh 26 BJ 9s Wholesale Club ®2009 BJ 9s Wholesale Club, Inc. Meal Solutions - Frozen 27 BJ 9s Wholesale Club ®2009 BJ 9s Wholesale Club, Inc. Grocery: National Brands in Supermarket Sizes 28 BJ 9s Wholesale Club ®2009 BJ 9s Wholesale Club, Inc. Grocery: Strong Pet Sales Driven by Value 29 BJ 9s Wholesale Club ®2009 BJ 9s Wholesale Club, Inc. Baby: Everything for Families in the Diapering Stage 30 BJ 9s Wholesale Club ®2009 BJ 9s Wholesale Club, Inc. Books Toys Clothes Games All Life Stages 3 Infant through College 31 BJ 9s Wholesale Club ®2009 BJ 9s Wholesale Club, Inc. Consumer Electronics: TVs, Video Games, Sound Systems 32 BJ 9s Wholesale Club ®2009 BJ 9s Wholesale Club, Inc. Computer Brands: HP ® , Sony ® , Toshiba ® , Acer ® 33 BJ 9s Wholesale Club ®2009 BJ 9s Wholesale Club, Inc. Summer Seasonal 2009: Treasure Hunt 34 BJ 9s Wholesale Club ®2009 BJ 9s Wholesale Club, Inc. Summer Seasonal 2009: Treasure Hunt 35 BJ 9s Wholesale Club ®2009 BJ 9s Wholesale Club, Inc. Financial Overview 36 BJ 9s Wholesale Club ®2009 BJ 9s Wholesale Club, Inc. BJ 9s Investment Highlights Differentiated warehouse club model Sustainable growth Strong balance sheet 37 BJ 9s Wholesale Club ®2009 BJ 9s Wholesale Club, Inc. $9.8 Billion in Net Sales 6.4% Increase in Comp. Club Merchandise Sales 5% Increase in Traffic 2% Increase in Average Transaction 9.5% Increase in Net Income 20.0% Increase in Earnings Per Share Net cash flow from operations of $224 million 2008 Company Performance 38 BJ 9s Wholesale Club ®2009 BJ 9s Wholesale Club, Inc. $2.26 Billion in Net Sales 7.5% Increase in Comp. Club Merchandise Sales 7.0% Increase in Traffic 1% Increase in Average Transaction 41.6% Increase in Net Income 55.2% Increase in Earnings Per Share Net cash flow from operations of $71 million Q-1 2009 Company Performance 39 BJ 9s Wholesale Club ®2009 BJ 9s Wholesale Club, Inc. Comparable Club Sales for May and June 2009 Four Weeks Ended Five Weeks Ended May 30, 2009 July 4, 2009 Merchandise comp sales 4.0% 2.7% Impact of gasoline sales -10.8% -10.2% Comp club sales -6.8% -7.5% 40 BJ 9s Wholesale Club ®2009 BJ 9s Wholesale Club, Inc. 2008 2007 2006 2005 Cash Flow from Operating Activities 224 $305 $173 $192 Capital Spending 138 90 191 123 Total (Net) $86 $ 218 $ (18) $ 69 $ in millions Capital Self-Sufficiency 41 BJ 9s Wholesale Club ®2009 BJ 9s Wholesale Club, Inc. Long Term Business Model 3% - 5% annual comp club sales increase 5% - 6% annual square footage growth 6 - 8 bpts of operating margin expansion 10% - 15% EPS growth Continued share repurchase 42 BJ 9s Wholesale Club ®2009 BJ 9s Wholesale Club, Inc.

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