Sales of 25- and 50-pound bags of jasmine rice are surging because shipping costs have come down.
According to Costco Wholesale COST CFO Richard Galanti, sales of 25- and 50-pound bags of jasmine rice are surging because shipping costs have come down.
According to Costco Wholesale COST CFO Richard Galanti, sales of 25- and 50-pound bags of jasmine rice are surging because shipping costs have come down. The discount retailer on Thursday reported its fiscal second-quarter results, with the stock dipping in premarket trade as sales came in below Wall Street estimates.
Costco is seeing weakness in big-ticket items, which he attributes both to the economy as well as the strong numbers seen during COVID, though he said televisions are seeing “decent sales” with average selling prices coming down. But average transactions and shopping frequency is up.
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