Costco Wholesale Corp. will expand its Costco Next program in a bid to hold its own against Amazon. The program allows Costco members to save 20 percent or more on online purchases from participating brands. It was initially launched in 2017 with just a handful of brands, but Costco has expanded their ranks and has plans to add more over the coming year.
At the same time, Costco said its Q1 profits came to $1.32 billion. On a per-share basis, net earnings of $2.97 exceeded Wall Street estimates of $2.59 per share. Revenues of $50.36 billion were ahead of an expected $50.02 billion.
