Costco is observing a clear shift in consumer behavior as customers increasingly favor 'food at home' over dining out, significantly boosting meat and produce sales.
Gary Millerchip, Costco's finance chief, emphasized that the company has seen a powerful trend reflecting strong sales in meat and produce as consumers gravitate towards lower-priced items.
The report notes that international food items are also gaining traction, indicating a diverse preference in customers’ search for value and variety at home.
With a reported $60.99 billion in sales, Costco's strong quarterly performance, coupled with a 7.5% year-over-year growth, illustrates its resilience amidst economic pressures.
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