The Seattle Times reports that the mood is upbeat at Costco after the company reported better financial results than expected. Membership is up, and CFO Richard Galanti told analysts yesterday that “we asked ourselves the question as we entered the crappy economy a year ago, would people spend more to be able to spend more, and the answer is yes. I think they see it as a savings.”
The sense seems to be that if Costco has been able to survive economic hard times, it will be well positioned if the recession ends and the nation sees an economic uptick.
The sense seems to be that if Costco has been able to survive economic hard times, it will be well positioned if the recession ends and the nation sees an economic uptick.
- KC's View:
- My position is that I like any executive who uses frank words like “crappy” during official conversations. It doesn’t sound canned or rehearsed. It does sound frank.
