Costco’s March sales highlight consumers’ shift to essentials (Adam Josephson / Freightwaves)

Costco’s March sales highlight U.S. consumers’ recent shift to spending on essential items versus discretionary ones. 

Reported Wednesday, Costco’s U.S. comparable sales, excluding the impacts from changes in gasoline prices and foreign exchange, were only up 0.9%, which represents a major slowdown from previous months and which was the company’s lowest since April 2020 (at the onset of the pandemic). 

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