Sharp Food Prices Drive Costco’s Q1 Sales

Food, particularly fresh food, is clearly driving the business at Costco Wholesale Corp., Richard Galanti, the chain’s executive vice president and chief financial officer, said yesterday during a conference call to discuss financial results for the first quarter.

ISSAQUAH, Wash. — Food, particularly fresh food, is clearly driving the business at Costco Wholesale Corp. here, Richard Galanti, the chain’s executive vice president and chief financial officer, said yesterday during a conference call to discuss financial results for the first quarter.

Food and sundries, which account for half of Costco’s business, saw comparable-store sales rise in the high single digits during the quarter, which ended Nov. 23, Galanti said, with dry grocerie

Register to view the full article