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  • sales surged, but so did costs at Costco.

  • The warehouse club operator's quarterly profit missed Wall Street's targets as a retailer spent more on benefits for employees who work through the pandemic and sanitized it stores.

  • Profit margins at American retailers have been squeezed further by pandemic related charges.

  • They had already been investing heavily to slash delivery times amid the surgeon online demand from people ordering from home.

  • Costco doled out premium pay to workers at the onset of the pandemic outbreak and hiked its minimum wage from March to $16 a dollar, more than an Amazon and target.

  • Costco, however, performed well on the top line.

  • Revenue rose to handily beat estimates as online sales jumped nearly 76% from a year earlier.

  • Costco shares fell in early trading Friday, deepening their 15% loss this year.

sales surged, but so did costs at Costco.

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B2 costco pandemic profit sanitized top line online

Pandemic drives up costs for Costco

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    林宜悉 posted on 2021/03/05
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