Why Costco’s price wars have become a political distraction
By STEVE BAKER AND ROBERT STRAUSS-FAIRFAX, Associated PressThe price wars are back.
And the price wars don’t stop at Costco.
They’re spreading to other retailers, and they’re getting worse.
Costco Corp., the nation’s largest discount retailer, is one of the largest retailers in the country with about 8,000 stores.
But its prices have gone up by about 70% since 2007.
The company is currently negotiating a $7.2 billion contract with Walmart.
And on Friday, Costco announced it was joining a class-action lawsuit against the Justice Department for its “price gouging” practices.
Walmart has not yet responded to a request for comment.
In an effort to protect its brand, Costco started offering its own “fair” pricing policy in July 2015.
That policy, which allows customers to compare different prices on a single item and receive a credit for each, allowed consumers to save $1.49 on everything at Costco for each item, including a gas can, for example.
But Costco didn’t allow customers to shop on a per-item basis.
That left the retailer with two options: keep prices the same, or lower prices.
The Costco Fair pricing policy allowed consumers who want to compare prices to Costco to shop at Costco as a whole.
It allowed customers to use the discount program to shop for different items at different prices, with the hope of getting the best deal.
The company had some success.
In August 2015, the company began charging customers a 10% discount for the cost of a $50 can of soda at Costco stores, but that was just a temporary measure.
Over the course of the next two months, Costco also raised the price on its $7,000 gallon gas can.
By September, Costco had increased the price of its gas can to $7 per gallon, and the discount was extended to $12 per gallon.
Costco customers were able to use Costco’s Fair pricing program to compare the cost on the same item.
But Costco began to see a dramatic increase in the amount of money it was losing to Walmart over the course.
Costco reported that Walmart was losing $7 billion in 2016 alone.
The largest part of that was the loss of revenue from sales of gas cans.
Costco lost $2.4 billion from gas cans in 2016.
Walton was quick to respond.
“Consumers have a right to know the cost and benefit of Costco’s discounted price policies,” Walmart said in a statement on Friday.
“We are reviewing Costco’s pricing policy and are prepared to defend our position in court if required.”
But the company was unable to provide a concrete estimate of how much Walmart was paying.
Walmart did not respond to a question about how much it was paying Costco, which was not required to provide such information.
And while Walmart has been making the rounds on TV and radio, the price battles have not gone away.
Costco announced a new policy in June that requires its suppliers to make “reasonable adjustments” to their prices if they do not comply with the Fair pricing system.
In its statement, Walmart said it was “committed to the principles of Fair pricing.”
In the past few weeks, Costco has been testing a new price plan called Costco Plus.
The plan allows customers who buy the Costco Plus package to save up to 10% off the cost.
The plan does not require suppliers to lower prices, and Costco says it is “open to adjusting our pricing at any time.”
But Costco has said it is prepared to challenge any price changes that Walmart or other retailers attempt to make.
“We are working closely with Walmart to understand their concerns, and will continue to provide fair prices,” Costco spokeswoman Erin McLeod said in an email.
“Our goal is to provide the best value for customers, and we will continue working with Walmart and others to do that.”