Costco's Q1 Sales, Profits Up

More aggressive pricing by supermarkets and Wal-Mart is not having much impact on Costco Wholesale Corp., the company said here last week. Our average markup is 11%, so we're not being arrogant when we say it's hard to beat our overall pricing, and we hold our own very well, Richard Galanti, senior vice president and chief financial officer, said during a conference call with analysts

ISSAQUAH, Wash. — More aggressive pricing by supermarkets and Wal-Mart is not having much impact on Costco Wholesale Corp., the company said here last week.

“Our average markup is 11%, so we're not being arrogant when we say it's hard to beat our overall pricing, and we hold our own very well,” Richard Galanti, senior vice president and chief financial officer, said during a conference call with analysts to discuss financial results for the first quarter, which ended Nov. 22.

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