Costco Wholesale Corp.’s
finance chief is zeroing in on working capital and inventory levels to make sure the warehouse chain has the right stock for sale as the pandemic continues.
The members-only retailer in recent months struggled to keep its shelves filled with popular products such as sanitizing wipes, baking yeast and laptops as consumers adjusted their shopping habits and manufacturers had trouble meeting heightened demand.
“The supply chain continues to improve, but it will still take six to nine months on some categories or products,” Chief Financial Officer Richard Galanti said.
Having sufficient reserves of highly-sought products meant Costco had to find additional suppliers and decide which offerings to cut back on, Mr. Galanti said.
Overall inventory levels rose 7% to $12.2 billion in the year ended Aug. 30