No More iTunes Love From Costco (COST, AAPL)

These days, it seems that Apple Inc.
AAPL
products are everywhere. With Target Corporation
TGT
and others increasing their Apple product lineup (Target recently added the iPad to its many stores across the nation), it's almost unfathomable to think that we could one day enter a retailer that wasn't selling at least one Apple item. That is, unless you shop at Costco Wholesale Corporation
COST
. Costco has announced that Apple products are being
phased out
of its stores, The Seattle Times reports. While Costco has been selling iPods and pre-loaded iTunes cards for years, neither item was offered at a huge discount. To make matters more difficult for the retailer, Apple did not allow Costco to sell its products online. Thus, the two companies agreed to wind things down. On a more positive note, Costco has reported a strong quarter, with a 17% boost in profits to $312 million, or 71 cents a share, for the first fiscal quarter that ended November 21. The Seattle Times reports that Costco grew 11% to $19.2 billion, and customers were visiting more frequently than ever, although not always for big-ticket items.
Loading...
Loading...
AAPL Logo
AAPLApple Inc
$196.060.21%

Stock Score Locked: Want to See it?

Benzinga Rankings give you vital metrics on any stock – anytime.

Reveal Full Score
Edge Rankings
Momentum
24.41
Growth
32.79
Quality
80.17
Value
9.24
Price Trend
Short
Medium
Long
Market News and Data brought to you by Benzinga APIs
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise

Comments
Loading...