Retail

CostCo (COST): As Inflation Rises, Food Hoarding Begins

Shoppers are raiding CostCo (COST) for rice and wheat. At least the are paying for it, for the time being anyway.

The discount retailers CEO says that "enough is enough". CostCo is prepared to ration the commodities so that the chain does not come up short in a real emergency. James Sinegal, Costco’s chief executive officer, told Reuters, If a customer came in and said, "I want 10 pallets of flour, we’d probably say, ‘No, we can’t give you that. We can give you one pallet’."

With the price of some food up by three times over the last year perhaps customers only want to get a little bit ahead of the curve. Those are the same shoppers who are building bomb shelters.

Douglas A. McIntyre

ALERT: 5.25% Yield Is 8x National Average (Sponsored)

Robinhood Gold just rolled out a wild 5.25% APY yield for members, a whopping 8x the national average and way better than treasuries.

Earn an eye watering amount of money while you sleep. Sign up today — click here to start earning today.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.