Posted on 03/04/2020 10:54:34 AM PST by SeekAndFind
American shoppers flock to branches of the major department store Costco across the country in order stock up on supplies in fear of a coronavirus outbreak, CNBC reported.
The various necessities being sought include hand sanitizer, paper towels, trail mix, water and surgical masks, all of which are being bought in bulk.
Citing Nielsen, CNBC reported that hand sanitizer sales are up 73% since February 22, while surgical masks sales are up 319%.
However, Nielsen added that it does not expect hand sanitizer sales to peak any time soon.
The sudden surge of panic-induced shoppers is predicted by some to cause a rise in Costco shares. “We expect material comp benefits for Costco,” analyst Rupesh Parikh told clients, according to CNBC.
“Our observations and conversations with store employees [and] management suggest a strong pickup in traffic starting Thursday through at least Saturday.”
On Monday, Costco shares rose 4%.
However, the sudden surge of customers stocking up on supplies could also result in less demand in the future, as well as a depletion of stocks.
Already, local reports in Oregon confirmed that a Costco in the state ran out of toilet paper.
(Excerpt) Read more at jpost.com ...
I’m not American so I ask here is this story true? I don’t trust CNBC to report a single fact correctly.
If there is one in your area, Lidl seems to have better prices on a lot of basic stuff like toilet paper, flour, sugar, dairy; and you don’t have to buy in such bulk.
My local Lidl was fully stocked with everything on Monday. On a Saturday a couple of weeks ago, it seemed extra-busy, but not since then.
I’ve only seen one neighbor who seemed to be bringing in unusual loads of stuff like TP, disinfectant wipes, etc. (MD suburbs of DC).
My tap water tastes like Obama, and every year my public utilities sends out a big glossy pamphlet using our fees to tell us we have the best water in the country.
I enjoy the 25 lb bags of rice and 5 gallon buckets of soy sauce.
Don't you get it, man..America is SWARMING to Cosco! They are in a PANIC. Danger Will Robertson! How can i make it any clearer. They are STOCKING UP on Clorox and Hostess Ding Dong as a matter of life and death! Run don't walk to your nearest Costco...not Target and not Walmart...Costco!
Are we stockpiled on those?
No, the Surgeon General said they don't work and we'll just be taking them from medical staff who need them b/c they don't work. Or something.
From the picture it looks like a swarm of one? Instead of his normal case of bottled water ..he got 2..oh my.
That’s every day at Costco (which I still call Price Club).
OK glad you saw that.
I think depends on where live...My son is out in San Jose—the hot zone...and he said stores were swamped according to his roommates who waited in line.
Wonder how many got the virus by being in a big crowd waiting to stock up?
Maybe in spots, but certainly nowhere in my area.
Salt, like solar salt comes from salt mines on the south sides of the Great Lakes, Salt Lake, UT and Carlsbad, NM.
The same places that produce the Morton salt in your cupboard or the road salt for deicing the road in the winter.
How hot is hot...i am down in S.FL at the moment and i don’t see anyone panicking. Just another day as far as i can tell.
Maybe they are all in stealth mode?
OMG!,, We’re all gonna die! ... Predictable and pathetic.
I went to a BJ’s Warehouse in greater Boston...totally stripped out. The same for Aldi’s next door.
I noticed BJ’s was price gauging somewhat. Things I normally purchase were marked up several dollars. A 35 pack of coke was $13. That coke is usually $11.25.
people are emptying many places, even in small towns- impossible to get purell hand sanitizer, bleach, some places toilet paper, hand wipes, isopropel alcohol (one ingredient in some hand sanitizers), face masks etc-
I see no panic buying in the South Carolina.
Maybe I am shopping on the wrong days. Are maybe we are just to poor here to panic dry. I bet if the local news said Snow we will be sold out of milk and bread.
Roger that. Buntcha mindless fools.
We stopped our CostmeCo membership. Their food samples are horrible and we are not a part of the follow-me crowd.
CostmeCo will no longer let you in to buy something from their food court. You must have a membership to make a purchase.
he’s likely gonna resell them at inflated prices-
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