Market Chatter: Costco Wholesale to Open Stand-Alone Gas Stations to Boost Sales

MT Newswires Live07-20

Costco Wholesale (COST) plans to open stand-alone gas stations in a bid to boost sales, The Wall Street Journal reported Saturday, citing Costco Chief Financial Officer Gary Millerchip.

The gas stations will be located near Costco store parking lots that normally have the pumps, according to the report.

The first stand-alone Costco gas station opened in Southern California in June, and the second is planned in Honolulu, the report added.

Costco did not immediately respond to MT Newswires' request for a comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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