Costco CEO Craig Jelinek has warned that although the middle class is doing OK financially, people with less discretionary spending are having a difficult time in the current economy. In a July 11 interview for CNBC’s “Squawk on the Street” program, Jelinek said that while overall “the consumer is not doing bad,” and the unemployment rate…
Costco CEO: A Lot of People Are Experiencing a Recession Right Now and ‘Just Trying to Survive’
Costco Limits Gas Sales to Members Only in New Jersey
Costco Wholesale Corp. has restricted gasoline sales at its New Jersey locations to Costco members only, as gas prices in the state are hovering at about $5 per gallon. The restriction came into effect on July 5. To fill up their tanks, drivers must have a Costco membership card that can be purchased from the…
Costco Pulls Thousands of Items From Shelves Due to Dangerous Defect
About 400,000 patio umbrellas sold at retailer Costco were recalled due to a malfunction that can cause the items to catch on fire, according to a federal agency. The U.S. Consumer Product Safety Commission (CPSC) announced it is recalling SunVilla “Solar LED Market Umbrellas” after six reported incidents where the products malfunctioned. One of the incidents…
Costco Pulls Thousands of Items From Shelves Because of Dangerous Defect
About 400,000 patio umbrellas sold at retailer Costco are being recalled because of a malfunction that can cause the items to catch on fire, according to a federal agency. The U.S. Consumer Product Safety Commission (CPSC) announced that it’s recalling SunVilla “Solar LED Market Umbrellas” after six reported incidents where the products malfunctioned. One of the incidents…
Costco Pulls 400,000 Solar Umbrellas From Shelves Over Dangerous Defect
About 400,000 patio umbrellas sold at retailer Costco are being recalled because of a malfunction that can cause the items to catch on fire, according to a federal agency. The U.S. Consumer Product Safety Commission (CPSC) announced that it’s recalling SunVilla “Solar LED Market Umbrellas” after six reported incidents where the products malfunctioned. One of the incidents…
Costco Margins Hit by Rising Freight and Labor Costs
Costco Wholesale Corp. reported a fall in gross margins on Thursday, hit by soaring freight and labor costs across the United States, sending shares of the membership-only retailer down 2 percent and overshadowing an otherwise upbeat quarterly report. U.S. companies across the board have been struggling with higher costs due to supply chain disruptions, exacerbated…
Costco Soars Into Blue Skies: Here’s How to Trade in All-Time Highs
Costco Wholesale Corporation gapped up into blue skies on Thursday and rose about 2 percent of the open to reach a new all-time high of $603.78. All-time highs generate excitement and interest that can translate into increased buying pressure and above-average volume. When a stock reaches an all-time high there is no oversupply, meaning every…
Costco Q2 Earnings Highlights: Revenue & EPS Beat, Store Sales up 12.6 Percent and Early February Numbers
Costco Wholesale Corp reported second-quarter financial results after market close Thursday. Here are the highlights. What Happened Costco reported second-quarter net sales of $50.9 billion, up 16.1 percent year-over-year. Total revenue of $51.9 billion in the quarter beat a consensus estimate of $51.4 billion, according to Benzinga Pro. Second-quarter revenue included $967 million from membership…
Target Raises Minimum Wage for Some Jobs to $24 an Hour
U.S. retailer Target Corp. announced on Monday that it will adopt a minimum wage system that would increase starting pay for some employees by as much as $9 an hour, with the highest pay going to hires in the most competitive markets. Target, which has roughly 1,900 stores and 350,000 employees in the United States,…
If You Invested $1,000 In Costco Stock One Year Ago, Here’s How Much You’d Have Now
Investors who have owned stocks in the last year have generally experienced some big gains. In fact, the SPDR S&P 500 ETF Trust total return over the last 12 months is 28.8 percent. But there is no question some big-name stocks performed better than others along the way. Costco’s Big Year One company that has been…
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