Most Fortune 500 companies rolling back DE&I programs, jobs and marketing

By Wesley Brown

Feb. 26, 2025 – New data highlighting foot traffic at the nation’s top retailers show that one company supporting Diversity, Equity, and Inclusion (DE&I) initiatives has seen an uptick in January visits, while a competitor that dropped all DE&I programs has lost ground in 2025.

According to a Feb. 20 story by Retail Brew, warehouse club giant Costco has seen traffic rise over the last three periods compared to the previous year. Following the week after its shareholders rejected a proposal to end its DE&I programs, traffic at the warehouse club rose 5.8% on the week, 5.7% on the week beginning February 3, and 4.6% on the week starting February 10.

On the other hand, Retail Brew data culled by retail analytics firm Placer.ai shows that Target’s foot traffic fell 4% compared to a year ago, then fell 8.6% the week beginning February 3 and 3.9% the week starting February 10. It was the first drop in foot traffic this year for Target, with foot traffic for the first four weeks of 2025 up between 5% and 11.8%.

At Bentonville-based Walmart, which has also rolled by its DE&I initiatives, foot traffic fell by 2.7% compared to last year, 2.9% on the week beginning February 3, and 1.4% on the week beginning February 10.

Costco has stood out among the top U.S. and global retailers after the National Center for Public Policy Research (NCPPR) submitted a proposal warning the Washington-State-based warehouse giant that its DE&I programs and policies exposed its shareholders to financial and legal risks.

Also, nineteen state attorneys general from mostly red states — including Arkansas Attorney General Tim Griffin — sent a letter to Costco CEO Ron Vachris urging the company to eliminate Diversity, Equity, and Inclusion (DEI) policies. The letter says Costco’s DEI initiatives are discriminatory and violate federal and state laws.

However, at the company’s annual meeting in late January, more than 98% of Costco-owned shares voted against the NCPPR proposal. Costco currently operates 897 warehouses, including 617 in the United States. The nation’s largest warehouse club also operates e-commerce sites in the U.S., Canada, the U.K., Mexico, Korea, Taiwan, Japan and Australia.

Following nationwide protests over the George Floyd killing in Minneapolis in May 2020, Costco and most top U.S. corporations established DEI policies to create an equal playing field for racial and ethnic minorities. Minneapolis-based Target was among the first corporations to adopt a robust DE&I platform, citing its philanthropic commitment to fight racist disparities in Floyd’s hometown and the epicenter of nationwide protest.

However, after President Trump won the November election and issued an executive order on Jan. 21 essentially banning all DE&I programs and jobs at the federal level, corporations nationwide quickly began eliminating DE&I-Related programs and jobs and stripping any mentions of “diversity, equity, and inclusion” from their websites and marketing materials.

Among the top Fortune 500 and large corporations that have taken the anti-DEI stance in the face of possible litigation include Facebook and Instagram parent Meta, Google, Microsoft, McDonald’s, Walmart, PepsiCo, Coca-Cola, Disney, Deloitte, Boeing, Ford Motor Co., Boeing, Harley-Davidson, John Deere, and Tractor Supply Company.

The list of companies fully supporting DE&I initiatives is much shorter, including Costco, Ben & Jerry’s, Delta Airlines, Apple, e.l.f. Cosmetics and JP Morgan Chase. In the lukewarm category, several companies such as Citigroup, Goldman Sachs, and Walmart have adopted watered-down policies that removed DE&I programs, hiring goals, and language. However, those companies have publicly reiterated their commitment to a diverse workforce and supporting diverse communities.

Also, earlier this month, the NAACP issued a “black consumer advisory” to inform and caution Black consumers about the ongoing and intentional rollback of DE&I commitments by corporations and public and private institutions. “These actions threaten economic opportunities, workplace diversity, and community investments, directly impacting Black communities nationwide,” the NAACP said in a statement, noting that Black consumer purchasing power exceeds $1.8 trillion annually.