business news in context, analysis with attitude

With brief, occasional, italicized and sometimes gratuitous commentary…

•  From the Wall Street Journal:

"Plant-based milk products may continue to be labeled as 'milk,' but should put information on their label explaining how they are different from cow’s milk, the U.S. Food and Drug Administration said in a proposal Wednesday.

"The move drew mixed reviews from the dairy industry and its advocates, which want to prohibit nondairy milks from using the word 'milk,' but applauded the push to explain nutritional differences between cow’s milk and other plant-based options.

"'Today’s FDA announcement is a step toward labeling integrity for consumers of dairy products, even as it falls short of ending the decades-old problem of misleading plant-based labeling using dairy terminology,' Jim Mulhern, chief executive of the National Milk Producers Federation, said in a written statement. He said his group would work with lawmakers to ensure that 'plant-based imposters' won’t be able to use dairy terms. 

"Plant-based beverages can label themselves as a beverage or milk derived from their primary ingredient, such as soy, almonds or cashews, the FDA said in its proposal. But plant-based beverages that call themselves milk should also explain how their nutritional content compares to cow’s milk, adding to their labels in a prominent place how they differ in levels of calcium or vitamin D, for example, the agency said."

•  CNBC reports that Dick's Sporting Goods plans to acquire outdoor retailer Moosejaw from Walmart.  terms of the deal were not disclosed.

Walmart bought the brand in 2017 for $51 million, part of an e-commerce diversification program launched by Marc Lore, who then was running Walmart's US e-commerce business.

According to the story, "The acquisition, a rare move for Dick’s, could help the retailer grow its presence in the outdoor market and develop its e-commerce footprint after its 2021 launch of Public Lands, which has a stronger brick-and-mortar focus … While Moosejaw operates about a dozen brick-and-mortar locations in the Midwest and near the Great Lakes, it’s primarily an e-commerce company that’s been around since 1992."

The move also allows Walmart to rid itself of a non-core asset that had to be more of a distraction and rounding error than anything else.