(ZENIT News / Washington, 08.08.2024).- A diverse coalition of firms, financial advisors, and thousands of Costco members sent a series of letters Monday to Costco, Walmart, Kroger, Albertsons, and McKesson calling on C-suite leaders to resist political pressure to begin selling chemical abortion drugs at their pharmacies.
The letters were signed by Christian financial technology firm Inspire Insight, financial advisor David Bahnsen, proxy voting and corporate engagement consultant Jerry Bowyer, and GuideStone Financial Services. Together, the signatories represent over $100 billion in assets under management, including more than $172 million in ownership of the five retailers. Six thousand Costco members also signed a petition to the membership-only big-box retailer.
“We are honored to help facilitate these letters calling on trusted retailers like Costco and Walmart to stay out of political hot-button issues,” said Alliance Defending Freedom Senior Counsel and Senior Vice President of Corporate Engagement Jeremy Tedesco. “As the letter emphasizes, the legal landscape on dangerous chemical abortion drugs is anything but settled. The FDA’s own label admits that roughly one in 25 women who take this drug will end up in the ER. Retail pharmacies are there to serve the health and wellness of their customers, but abortion drugs like mifepristone undermine that mission by putting women’s health at risk.”
“There’s simply no question that Costco’s decision to sell abortion drugs would automatically risk its brand reputation,” said CEO of Inspire Investing Robert Netzly. “Entering the abortion drug marketplace is an inescapably political decision. This is just like Bud Light (InBev), Disney, and Target. All three have taken affirmative stances on controversial issues in recent years and have yet to recover from the backlash. As owners of Costco, our clients have no interest in risking their financial futures or compromising their deeply held beliefs. We are optimistic that Costco and these other retailers will resist the political pressure to best serve their customers and shareholders.”
“Nobody wins when companies stray from their core mission and enter into politically fraught waters,” said David Bahnsen, founder, managing partner, and chief investment officer of The Bahnsen Group “Regardless of anyone’s personal stance on abortion, there can be no question that it’s a politically contentious and legally fraught issue that divides the American public. Just as important, selling chemical abortion drugs undermines a retail pharmacy’s bottom line. Instead of selling a lifetime supply of everyday goods like diapers, cough syrup, groceries, toys, food, and clothing, a store settles for a one-time purchase that undermines a lifetime of opportunity.”
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