Costco Charters 3 Cargo Ships to Mitigate Container Shortages
Costco has chartered three “ocean vessels” for the next year to transport containers between Asia and North America, “and we've leased several thousand containers for use on these ships,” Costco Chief Financial Officer Richard Galanti said on a call Sept.…
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23 to discuss the results of fiscal Q4 ended Aug. 29. “Every ship can carry 800 to 1,000 containers at a time and we'll make approximately 10 deliveries during the course of the next year.” Costco's electronics sales in the quarter were "very good," but up against a tough comparison with a year earlier when "we had really outsized sales" amid COBID-19 stay-at-home orders, Galanti said.