SBUX - Costco's Brand New Store In Southern China Sparks Shopping Frenzy Amid Economic Slowdown: Report | Benzinga
Costco Wholesale Corporation (NASDAQ:COST) reportedly made a remarkable entrance into southern China as the opening of its first store drew massive crowds.
Customers queued for hours, seizing the opportunity presented by the country’s economic slowdown, which has fueled a budget shopping boom, Bloomberg reported, citing local media including Sing Tao Daily.
The firm already has a significant presence in China with five other stores, including one in the financial center of Shanghai.
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