By Bill Wilson
Source: Supermarket News
Nobody wants to go back to the beginnings of the COVID-19 pandemic, when the nation experienced an economic lockdown. The latest sales numbers from Costco, however, are reflecting that time.
For the second straight month, the super retailer is showing a decline in sales. In March, Costco posted a 0.9% gain after excluding the impact of changes in gasoline prices, marking the smallest gain since April 2020 when consumers were on lockdown due to COVID-19. Some market experts are beginning to think Costco’s long sales boom has happened and what’s left is a crater. In December and January, Costco sales were up 6%, but in February the number was just 3.5%. Still, the store could rebound as the second quarter revs up. It’s important to note that the Institute for Supply Management revealed the service sector in March experience slower-than-expected growth.