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On Costco's last earnings call, executives were grilled about a problem few companies have: how is the company managing crowded stores and jammed-up parking lots?

That dilemma is a sign of the times for membership-based warehouse clubs. More Americans have literally joined the club — fueling growth for Costco , Walmart -owned Sam's Club and BJ's .

All three retailers are opening more locations across the country. Shares of the companies have shot up in the past five years, with Costco's stock up about 215% and BJ's up about 305% since the day the Covid pandemic began in March 2020. And Gen Z and millennial shoppers have helped fuel the club channel's gains, as trendier brands

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