BJ

BJ's Wholesale Club

DOUBTFUL — METHODS DIFFERstock

Is BJ Halal?

Wholesale retail — financial ratios pass, but product and card activity require review.

What You Should Know

BJ's May 2, 2026 filing reports debt/assets of 9.76%, liquidity/assets of 0.35% and receivables plus cash/assets of 4.39%; gross interest income is not separately disclosed. Wholesale retail is generally permissible, while alcohol, tobacco, non-halal food, fuel and co-brand card structures require review.

⚠️ Concerns

  • Alcohol, tobacco and non-halal food products
  • Gasoline and co-brand card arrangements
  • Very low unrestricted liquidity

Current quantitative Sharia screen

Based on 10-Q figures for the period ended 2026-05-02; calculated 2026-07-14.

USD · millions
Interest-bearing debt / assets
9.76%Within limit
Below 33.333% under FTSE Yasaar

774.172 / 7,928.998

Cash + interest-bearing securities / assets
0.35%Within limit
Below 33.333% under FTSE Yasaar

27.826 / 7,928.998

Receivables + cash / assets
4.39%Within limit
Below 50% under FTSE Yasaar

347.762 / 7,928.998

FTSE Yasaar
v4.6, February 2026
Financial
Incomplete
Overall
Incomplete

Debt is 9.76% of assets, liquidity is 0.35% and receivables plus cash are 4.39%; gross interest income is unavailable.

MSCI Islamic (total-assets series)
October 2024 methodology
Financial
Pass
Overall
Incomplete

Examined financial ratios are below the total-assets limits; this is not an index-membership claim.

Malaysia SAC financial ratios
single 5% activity benchmark adopted November 2025
Financial
Pass
Overall
Incomplete

Examined financial ratios are below Malaysia SAC limits; this is not an official classification.

Market-cap denominator methods
MSCI M-Series, S&P and Dow Jones methods differ
Financial
Not calculated
Overall
Incomplete

A licensed historical market-cap series is not stored.

Business-activity disclosure

BJ's operates membership warehouse clubs and gas stations. Retail is generally permissible, while alcohol, tobacco, non-halal meat, fuel, co-brand cards and supply-chain finance require qualitative review.

Limitation: The filing does not quantify a scholar-specific prohibited-revenue or gross interest-income numerator; this is not an official Sharia classification.

Purification

Gross interest income is unavailable and no scholar-approved purification percentage is prescribed; no fixed amount is estimated.

Inputs, assumptions and primary sources
  • Amounts are USD thousands converted to millions from BJ's May 2, 2026 Form 10-Q.
  • Debt includes $375 million short-term debt and $399.172 million long-term debt; operating leases are excluded.
  • Cash is $27.826 million and no separately identified unrestricted interest-bearing securities are added.
  • Net accounts receivable are $319.936 million and quarterly total revenue is $5,661.5 million.
  • Gross interest income and a universal prohibited-revenue numerator are not separately disclosed.

This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.

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