This Big Box Retailer Can Go Head To Head With Amazon, Billionaire Investor Predicts: by skleb1234
The 97-year-old thinks that Jeff Bezos’ Amazon “may have more to fear from Costco in terms of retailing than the reverse.”
Not only do people “trust” the membership-only retail chain, which has over 111 million cardholders, but it also has “enormous purchasing power,” Munger argues. Munger has been a Costco board member since 1997 and personally owned about 166,000 shares of the company at the end of last year, according to filings—worth just over $62 million at the time.
Shares of Costco rose nearly 30% amid the pandemic last year, and have jumped another 40% so far in 2021 amid the reopening of the economy. The big-box retailer, which is one of the largest in the world with over 800 warehouse stores, has been investing heavily in its e-commerce business: Costco last year acquired delivery service provider Innovel Solutions for around $1 billion.Costco saw high demand during the pandemic lockdowns last year as people hoarded household items and groceries. The retailer is now seeing another uptick in sales as the economic reopening continues and more people shop in physical stores again.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
This Big Box Retailer Can Go Head To Head With Amazon, Billionaire Investor PredictsThis Big Box Retailer Can Go Head To Head With Amazon, Billionaire Investor Predicts: by skleb1234
Read more »
This Big Box Retailer Can Go Head To Head With Amazon, Billionaire Investor PredictsBerkshire Hathaway’s Charlie Munger sees massive upside ahead for this retailer.
Read more »
The Mask I Rely on for a Softer, Hydrated Head of CurlsBriogeo Don't Despair, Repair! Deep Conditioning Mask is a two-time Allure Readers’ Choice Award winner
Read more »
EPA head tours embattled communities, says help on the way“Putting a face and a name on these problems makes it personal,” Beverly Wright of the Deep South Center for Environmental Justice said. “When you can taste the chemicals in your mouth and smell the toxins downwind, it’s a lot more difficult to ignore.”
Read more »
This Big Box Retailer Can Go Head To Head With Amazon, Billionaire Investor PredictsThis Big Box Retailer Can Go Head To Head With Amazon, Billionaire Investor Predicts: by skleb1234
Read more »
This Big Box Retailer Can Go Head To Head With Amazon, Billionaire Investor PredictsBerkshire Hathaway’s Charlie Munger sees massive upside ahead for this retailer.
Read more »