Stronger U.S. Dollar, Dropping Gas Prices Amount to Little Growth for Costco
by Christina Lee on November 6th, 2008
Costco Wholesale’s food sales led a slow growth in the United States this month, though they could not counteract declines in international and total company sales. In the course of four weeks that ended Sunday, overall U.S. sales rose by 2 percent as international sales fell by 10 percent, summing to a one-percent decline in total company sales. While other merchandise sales fell overall, food sales continued to rise due to wholesale price inflation. Since September, bakery sales rose by double-digit percentages, while fresh foods sales “continue[d] to be a bright spot in our business,” said Bob Nelson, Costco Wholesale’s... Read more »