Traffic at Walmart Inc., Costco Wholesale Corp. and Target Corp. dropped for the first time in the weeks since the coronavirus pandemic ramped up in the U.S., according to Placer.ai. Walmart traffic was down 6.7% year-over-year for the third week of March. The previous week, traffic was up 18.4%. At Costco, [...]
Walmart and Amazon are major presences in the world of American retail. Both are places where you seem to be able to get pretty much anything, so it came as no surprise to learn that they were first and second, respectively, in Kantar Consulting's ranking of the top 50 U.S. [...]
Costco isn't jumping into the grocery pickup game any time soon. In response to an earnings-call question from RBC Capital Markets' Scot Ciccarelli about whether Costco had any plans to jump on the pickup trend like Walmart has, CFO Richard Galanti threw cold water on the idea. He said that [...]
Costco Wholesale Corp. kept sales on the upswing in its fiscal 2019 third quarter as per-share earnings hit the high end of Wall Street’s estimates. For the 12-week quarter ended May 12, net sales rose 7.4% to $33.96 billion from $31.62 billion a year earlier, Costco said late Thursday. Membership [...]
Nearly 130,000 Costco employees are poised to get a pay raise starting on June 11. In a Thursday call with investors, CFO Richard Galanti announced that the starting wage for Costco employees would go up $1 to $14 or $14.50 per hour, while other warehouse employees would see hourly raises [...]
E-commerce is disrupting the arena of the traditional supermarket industry. Old moguls, like Walmart and Costco, have initiated their own online businesses to survive this seismic shift. Walmart’s net sales from e-commerce grew 60% and 50% in Q2 and Q3 of 2017 respectively, while total sales grew just 1.8% and [...]
Since Amazon.com took over Whole Foods Market last August, competitors and customers have been anticipating the e-commerce giant’s disruption of the grocery industry. Amazon tinkered with lower prices and added its pick-up lockers to the supermarkets, but it wasn’t until last week that the company launched the kind of disruptive gambit that [...]
It seems Boxed will soon need to beat off its suitors with a stick. According to a new report in the New York Post, the buy-in-bulk e-commerce site — which some have called the “Costco for millennials — has reportedly drawn the interest of another retail giant: Amazon. Amazon CEO Jeff Bezos [...]
Shares in Costco fell 6 percent on Friday after the retailer reported a decline in quarterly gross margins and underlined the growing competition in the industry by launching new grocery delivery services. The membership-based chain on Thursday reported a quarterly profit which scraped past estimates and said it had rolled out [...]
There’s an all-out food fight happening in the grocery store business, and Costco became the latest victim to get hit with some pudding to the face. The warehouse club retailer released second-quarter fiscal 2017 comparable store sales and profits that missed Wall Street’s forecasts. Shares of the company, which were fresh off [...]