Costco says coronavirus fears gave it a sales boost and stirred up 'crazy' demand
"Members are turning to us for a variety of items associated with preparing for and dealing with a virus," the Costco CFO said.Costco CFO Richard Galanti told analysts that members have been visiting locations to scoop up crucial supplies during the coronavirus outbreak.
Costco CFO Richard Galanti told analysts in the earnings call that the company was "keeping a close eye on the developments of the coronavirus," specifically the safety of its members and employees, its operations, and its supply chain. He said that warehouses are having trouble keeping up with members, adding that the surge in demand has been "a little crazy." And that's despite the fact that warehouses are receiving deliveries of crucial supplies daily.
On the operations side, a handful of Costco warehouses in Korea closed for a few days, and the location in Shanghai is limiting the number of members allowed inside at once. Galanti also addressed supply chain issues, including the fact that many manufacturing facilities in China remained closed beyond the Chinese Lunar New Year holiday due to the outbreak.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Deputies called after angry Costco customers balk at coronavirus shortages of water, toilet paperSheriff’s deputies were called to a Costco in Chino Hills on Thursday when a crowd of customers became unruly after finding that items such as water, paper towels and toilet paper were out of stock, presumably because of coronavirus-inspired buying.
Consulte Mais informação »
Eating at the Costco food court will now require a membershipCostco is ending food court sales to non-members starting March 16
Consulte Mais informação »
Starbucks says China business is recovering, but second-quarter will take hit to sales from coronavirus closuresStarbucks warned investors on Thursday that store closures in China due to the coronavirus outbreak are likely to result in a 50% decline in its same-store sales in China during its fiscal second quarter.
Consulte Mais informação »
Apple and Netflix drop out of SXSW amid coronavirus fears - Business InsiderIt looks like Apple and Netflix have joined the long list of companies ditching SXSW over coronavirus fears
Consulte Mais informação »
Trending: Google once predicted the flu, now it's adapting to the coronavirus - Business InsiderIn this week's edition of Trending we take a look at how tech companies, with powerful AI and data analysis tools, are being forced to respond to the coronavirus.
Consulte Mais informação »
'Beyond busy': Cotsco gets a sales boost from the coronavirusCostco reported stronger sales than analysts' were expecting Thursday, thanks, in part, to a boost the company received from consumers stocking up at its stores to prepare for a more widespread outbreak of a new coronavirus.
Consulte Mais informação »