On a dollar basis, it may be in the top three,” Morgan Stanley’s Simeon Ari Gutman told Galanti.Ĭostco’s trademark bulk offerings and category breadth, along with the massive square footage of its stores has undoubtedly contributed to its success during the pandemic.
“So, your sales growth on a percent basis has been among the strongest in retail, probably in the top five of the companies we cover.
In a pandemic, as shoppers try to socially distance as they visit stores less frequently, but stock up on food and beverages when they do, Costco has ticked a lot of boxes for consumers during COVID. From the biggest surprises to the latest in the membership model, here are five ways the warehouse chain has thrived in 2020. The special dividend marks Costco’s fourth in eight years.Įarlier this month, Galanti discussed the warehouse chain’s pandemic journey during Morgan Stanley’s virtual Life After COVID Thematic Conference, for which Refinitiv StreetEvents provided an edited transcript. Costco will continue to be in a financial position to take care of our employees, enhance the value of the Costco membership, and create shareholder value over the long term,” said Richard Galanti, EVP and chief financial officer of Costco, in a release. “Our strong balance sheet allows us to pay this dividend, while preserving financial and operational flexibility to continue to grow our business globally. 11)-wasn’t a forgone conclusion at the start of the pandemic, which favored traditional supermarkets and one-stop shops over specialty retailers and warehouse stores. SALAD RECALL: Trader Joe's Crunchy Slaw with chicken recalled because the salad dressing may contain plasticįollow USA TODAY reporter Kelly Tyko on Twitter: shopping news, tips and deals, join us on our Shopping Ninjas Facebook group.Costco Wholesale Club’s success this year, and recently announced special cash dividend on its stock of $10 per share-amounting to an aggregate payment of approximately $4.4 billion (payable on Dec.
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NEW ICE CREAM: Pizza ice cream, Kraft Mac & Cheese among new ice cream flavors coming to Walmart Westbury: Special operating hours are 8 to 9 a.m., Tuesday and Thursday.Ĭostco special operating hours for healthcare, first respondersĬostco says on its COVID updates page that members who are "healthcare workers (which includes pharmacists and all hospital employees with a hospital ID) and first responders (police officers, EMTs and firefighters) may enter the warehouse during Special Operating Hours, as well as regular operating hours.".
Brooklyn: Special operating hours are 8 to 9 a.m., Tuesday and Thursday.Iwilei (Honolulu): Special operating hours are 8 to 9 a.m., Tuesday and Thursday.Culver City: Special operating hours are 8 to 9 a.m., Tuesday and Thursday."Members who do not wish to shop during regular hours are welcome to visit for all their shopping needs," Costco said in the latest update.ĬOSTCO TIPS: Shop at Costco? These 3 tips will get you the best deals and the biggest discountsĭAILY MONEY NEWSLETTER: Money tips and advice delivered right to your inbox. The membership club has not allowed guests who do not meet its criteria to shop during the designated time. In July 2020, Costco also initially planned to reduce hours from five days to twice weekly but changed plans at that time "due to an increase in COVID-19 cases."
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