business news in context, analysis with attitude

•  The Associated Press reports that "BJ's Wholesale Club Holdings Inc. on Thursday reported fiscal first-quarter profit of $81.6 million … The wholesale membership warehouse operator posted revenue of $3.87 billion in the period."

•  Reuters reports that "McDonald's Corp. was sued on Thursday for at least $10 billion by two companies owned by media entrepreneur Byron Allen, who accused the fast-food chain of racial discrimination for not advertising enough with Black-owned media outlets.

"The complaint filed in Los Angeles County Superior Court said McDonald's violated federal and state civil rights laws through its 'racial animus and racial stereotyping' in allocating ad dollars.

"According to the complaint, Chicago-based McDonald's has refused to advertise with Allen's Entertainment Studios Networks, which owns several lifestyle channels, or his Weather Group, which owns The Weather Channel.  The complaint said Blacks comprise about 40% of McDonald's customers, but the company devoted less than $5 million of its $1.6 billion U.S. ad budget in 2019 to Black-owned media."