Friday, October 5, 2018

Costco Q4 profit surges; reports flaw in financial controls

Chain Store Age
Costco Wholesale Corp.’s profit rose 13.5% in the fourth quarter, even as its online growth lost some steam.

Total same-store sales rose 9.2%; U.S. same-store sales were up 10.8%. E-commerce sales rose 26.3%. It was the smallest increase in a year amid increased competition for grocery sales from such rivals as Amazon.. . . more