Costco's DEI defense, Walmart's DEI backlash, and AI in fast food: Retail news roundup
Plus, the FDA bans red dye No. 3 in food and beverages
Costco (COST) is sticking to its diversity, equity, and inclusion (DEI) commitments, while Walmart faces backlash from investors over its DEI pullback. Walmart is also venturing into luxury resale, now selling brands like Chanel and Prada online. Meanwhile, the U.S. Food and Drug Administration (FDA) has banned red dye No. 3 in food and drinks after concerns about its cancer risk and effects on children’s behavior. The dye, found in candy and cereals, has been controversial for decades.
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At a time when many large U.S. companies are scaling back their diversity, equity and inclusion (DEI) efforts, Costco is standing firm in its commitment to these initiatives.
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Walmart’s (WMT) in hot water. More than 30 shareholders, representing $266 billion in assets, are demanding answers over the company’s rollback of its diversity, equity, and inclusion (DEI) efforts.
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Walmart (WMT) is making a big push into the luxury market and has tapped resale platform Rebag to attract wealthier shoppers.
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The U.S. Food and Drug Administration (FDA) on Wednesday banned red dye No. 3 in food and beverages, decades after studies found it can cause cancer in lab rats. The synthetic dye, commonly found in candy, milkshakes, and cereal, has also raised concerns about its potential impact on children’s behavior.
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