Costco’s consumer base is on the rise. According to Retail Brew, the retailer has continued seeing an increase in its foot traffic, having reached its 13th consecutive week during the week of March 17. Costco’s influx of customers is in part due to its decision to uphold diversity, equity, and inclusion (DEI). It sparked a “buy in” led by Civil Rights activist Rev. Al Sharpton in January 2025 at Costco Wholesale, 1055 Hudson St., in Union, NJ. “We are planning to release a boycott list in the coming days,” Sharpton told TMZ at the time. “But in the interim, we are going to do a ‘buy-cott,’ which means we are going to support those who support diversity.” As AFROTECH™ previously told you, Costco’s board of directors requested for its shareholders to vote against a proposal from the National Center for Public Policy Research (NCPPR) that would dismantle its DEI programs. “Our success at Costco Wholesale has been built on service to our critical stakeholders: employees, members, and...

Verizon is receiving pushback for upholding its DEI commitments. As AFROTECH™ previously told you, pressures from conservative groups and efforts by President Donald Trump’s White House to dismantle DEI-related policies and programs have led major companies such as Meta, Amazon, and Google to follow suit. “We’re committed to creating a workplace where all our employees can succeed and have equal opportunities, and over the last year, we’ve been reviewing our programs designed to help us get there,” a Google spokesperson told Business Insider in February. Not all companies are shifting gears. In fact, Apple’s shareholders voted against a proposal that would dismiss its diversity and inclusion program in February 2025. Additionally, Verizon is maintaining its DEI stance and sees it as a vehicle for success. “Verizon is committed to fostering an inclusive environment. We care about diversity in both our employees and our suppliers. Diversity and inclusion is how we achieve success,” a...

Goldman Sachs Group Inc. has changed its stance on underwriting initial public offerings (IPOs) for companies with all-white male boards. In 2020, CEO David Solomon announced that the leading investment bank would only take a company public in the United States or Western Europe if the organization had at least two diverse board members, one of whom was a woman, AFROTECH™ previously reported. However, as of Tuesday, Feb. 11, 2025, Goldman’s IPO requirement is null and void, according to Bloomberg. “As a result of legal developments related to board diversity requirements, we ended our formal board diversity policy,” said Goldman spokesperson Tony Fratto, Bloomberg reported . “We continue to believe that successful boards benefit from diverse backgrounds and perspectives, and we will encourage them to take this approach.” Goldman’s 12-member board currently includes two people of color , one of whom is a woman. Among the bank’s executives, 73% are white, with 56% being men. Data...

Progress is often only seen as positive based on the sustainability measures associated with it, and many organizations have not kept their promises regarding diversity, equity, and inclusion (DEI). This abandonment informs many (DEI) advocates’ perspectives when explaining the recent rollback of DEI programs at large and small corporations. The removal of equity-focused programming is not new. According to a previous AFROTECH™ report, many companies that made commitments to DEI in 2020 after the murder of George Floyd have dialed back or cut programs. Now, Microsoft is among the big-name companies, specifically in tech, that have decided to eliminate their intentional strategies around DEI. The pervasive question to these cuts is “why?” According to Business Insider, it was due to “changing business needs.” “True systems-change work associated with DEI programs everywhere are no longer business critical or smart as they were in 2020,” a leader of the laid off DEI team wrote in an...

Michael Jordan, together with his eponymous Jordan Brand, has announced a new set of financial initiatives for Black excellence. In a press release announcement, it was revealed that they’ve issued grants to three renowned institutions: Morehouse College, a popular Historically Black College and University; Smithsonian Institution’s National Museum of African American History and Culture; and Ida B. Wells Society for Investigative Reporting. Jordan will be donating $3 million to the Smithsonian over the course of three years. He will be donating $1 million over two years to Morehouse, and he will be donating $1 million over two years to the Ida B. Wells Society. “Education is crucial for understanding the Black experience today,” says Michael Jordan in the press release announcement. “We want to help people understand the truth of our past, and help tell the stories that will shape our future.” Legendary director Spike Lee, a 1979 graduate of Morehouse College, said that Michael...

Cost of Doing Business (CODB), the holding company co-founded by Topicals CEO Olamide Olowe and President Sochi Mbadugha, has acquired premium haircare brand Bread Beauty Supply. According to a news release, the acquisition is CODB’s first step in building brands that connect culture, community, and commerce — especially as many companies scale back their diversity, equity, and inclusion (DEI) efforts . “At a time when DEI commitments are being rolled back, it’s critical that Black-owned businesses not only survive — we have to win,” Olowe said. “Maeva Heim, BREAD’s Founder, is one of the most talented creatives in the space and has led BREAD to have a major impact in the hair care industry, and with CODB’s resources and expertise, we’re ensuring that it continues to grow while remaining deeply rooted in its mission and creative ethos.” Photo Credit: Gold Owolabi With Bread now under CODB, the brand is set for growth while preserving its commitment to textured hair care. The...

After spending significant dollars in DEI efforts, the University of Michigan has closed two offices tied to equity and inclusion. The Detroit Free Press reports that the public research university has spent nearly $250 million on diversity, equity, and inclusion (DEI) efforts in recent years. However, the university has now decided to dismantle its Office of Diversity, Equity, and Inclusion (ODEI) and the Office for Health Equity and Inclusion (OHEI).” “Student-facing services in ODEI will shift to other offices focused on student access and opportunity,” the school said in a statement on its website, according to the outlet. The statement also read: “The DEI 2.0 Strategic Plan, the umbrella strategy for schools, colleges and units, will be discontinued, along with DEI 2.0 unit plans, related programming, progress reporting, training and funding.  Individual leads, who have supported DEI efforts in schools, colleges and units, will refocus their full effort on their core...

It appears a four-year partnership between Buy From a Black Woman and H&M has come to an end. According to a press release, the nonprofit, founded by Nikki Porcher in 2016, has partnered with H&M since International Women’s Day in 2021. Together, they have supported 30 Black women through accelerator programs and helped over 15 founders obtain their Minority Business Enterprise (MBE) certification within two years. On its own, Buy from A Black Women has hosted over 100 workshops and trainings, awarded 45 business grants, and provided 20 relief fund stipends to Black women business owners. Between 2022 and 2023, Buy From a Black Woman was able to drive more than $2.7 million in revenue towards Black woman founders. In 2023, Buy From a Black Woman and H&M hosted the The Inspire Tour, which was the brainchild of Porcher since 2019, and it reached various cities including Philadelphia, PA ; Charlotte, NC ; Houston, TX ; Los Angeles, CA; and Atlanta, GA. The aim was to amplify...