Costco Facing Supply ‘Pressures’ in High-Demand TVs, PCs, Says CFO
Consumer electronics were among “a few of the stronger departments” that helped drive a 75% increase in Costco’s e-commerce sales for fiscal Q2, ended Feb, 24, said Chief Financial Officer Richard Galanti on a Thursday call. The company continues experiencing…
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supply “pressures” in TVs and computers from “high consumer demand” and “chip and component shortages,” he said. Costco’s test of curbside pickup at three Albuquerque locations is “ongoing,” said Galanti. “The pilot is going well. Our members have responded to it, and basket size has actually surpassed our expectations.” Its curbside pickup focus remains on “how can we be more efficient in doing it and determining if this offering can become scalable,” he said. Costco previously resisted curbside pickup, though the practice had a big uptick in adoption among other large retailers during COVID-19 (see 2012110030).