Reuters
(Reuters) -Membership-only retail chain Costco Wholesale Corp said on Thursday it was reinstating limits on purchases of key items including bath tissues, roll towels and bottled water, spurred by panic buying from customers amid rising COVID-19 cases. While there was a shortage of cleaning supplies even last year, transportation issues this year are causing delays in deliveries to stores despite suppliers having plenty of stock, Costco Chief Financial Officer Richard Galanti said in an earnings call. The pandemic-driven port congestion and labor shortages have forced retail chains including Costco to spend more on transportation and labor, digging into their margins.

Source: Yahoo Entertainment

Powered by NewsAPI.org