Chinese Production at 60%-80% Capacity, ‘Improving Each Week,’ Says Costco CFO
Capacity utilization at Chinese factories trying to recover from coronavirus shutdowns that peaked in early February is up to 60%-80%, said Costco Chief Financial Officer Richard Galanti on a fiscal Q2 call Thursday. It’s “improving each week” but “still has…
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a little ways to go,” he said. Supply chain transportation problems “are also abating, with port capacity in China improving each day as well,” he said. “It's hard to quantify what the financial impact will be to our future results,” said Galanti. “The last week and a half has been quite good,” he said, “but we'll see what tomorrow brings.” Q2 ended Feb. 16