Costco Wholesale Corp whizzed past analysts' estimates for quarterly profit...
- Costco Wholesale Corp whizzed past analysts’ estimates for quarterly profit on Thursday as the warehouse club operator’s margins were lifted by a drop in gas prices and a shift to lower-cost sourcing, sending its shares up 5 percent.
A highly competitive U.S. grocery industry, coupled with the looming threat of Amazon.com Inc expanding its presence in the space, forced Costco and other grocers to slash prices last year and to invest heavily in stores and online. The company is investing on strengthening its online business, sprucing up its website with everything ranging from Apple MacBooks to La Mer cosmetics.
“I believe there is little less pricing pressure... But don’t get me wrong. As soon as we have a good quarter, the next quarter will change that.”
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Costco Raises Minimum Wage to $15 an HourCostco Wholesale said it has raised starting wages for store workers to $15 an hour, as a tight U.S. labor market continues to drive fierce competition for hourly staffers.
Read more »
Stocks making the biggest moves after hours: Costco, Eventbrite and moreSee which stocks are posting big moves after the bell on March 7.
Read more »
9 times when Costco is better than AmazonCostco recently beat out Amazon in a customer satisfaction survey. Here are nine occasions when shoppers might choose Costco over Amazon.
Read more »
Costco is raising its minimum wage to $15 as the war for talent rages onCostco is raising its minimum wage to $15 an hour.
Read more »
The wildest returns people have tried to make at Costco, according to employeesCostco's return policy is notoriously lenient. According to employees, some members still try to push the rules.
Read more »
Here's what Costco looked like when it first opened in 1983Costco's been around in some form since Price Club opened its doors in 1976. Check out these photos from the first Costco warehouse, which opened in Seattle.
Read more »
Costco workers reveal 31 things they'd love to tell shoppers, but can'tCostco membership doesn't entitle you to do whatever you want in the store, employees say.
Read more »
10 things you use every day you should always buy at Costco10 things you use every day you should always buy at Costco via CNBCMakeIt
Read more »