Costco to Place Purchase Limits on Certain Items. Again.
You think we would have been prepared after last year. As much as we want to think that it can't happen again, I'm always a little nervous when I walk into a grocery store these days. After almost a year of shortages and purchase limits, it's hard to think that the hoarding and limited supplies are back just as we are approaching cold and flu season. And I don't think that I'm the only one saying "Not again!".
This week one of our nation's biggest retailers, Costco Warehouse, has announced that they will once again put purchase limits on certain items. I'm literally feeling a little panicky just saying that. According to Costco Chief Financial Officer Richard Galanti, via NPR, "The company is putting "limitations on key items" such as toilet paper, bottled water and cleaning supplies so it can meet any uptick in demand due to the COVID-19 surge." Galanti went on to say during the latest earnings call late last week that "A year ago there was a shortage of merchandise" but now the problem isn't the merchandise, but delivery delays due to "short-term changes to trucking" and "delivery need" cited as the main factors. Either way, it means another pain in the neck for customers of the big box warehouse.
Galanti also told investors during the call, via NPR that the company "has chartered three ocean vessels for the next year to transport several thousand containers between the U.S., Asia and Canada. Each ship will be able to carry 800 to 1,000 containers at a time." Reports from the Insider also say that customers are getting an email that says "Due to increased volumes, you may see a slight delay in the processing of this order," when they place an order for toilet paper. Happy fall, y'all.
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