The Fitz-Gerald Group principal Keith Fitz-Gerald spotlights Costco, Palantir and Lockheed Martin stocks ahead of the market open.
Book bargain hunters will be disappointed to learn Costco plans to stop selling books at most of its U.S. stores at the beginning of the year.
In January, Costco will remove the store’s popular book section from the majority of its 600-plus stores in the United States.
And it will only return during the holiday season, from September to December, and at other intermittent times, the discount store chain told publishers over the summer, according to The New York Times.
Costco told the executives the change was made because stocking books on tables is labor-intensive and must be done by hand rather than by forklift like other products, the Times reported.
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Book bargain hunters will be disappointed to learn Costco plans to stop selling books at most of its U.S. stores at the beginning of the year. (Justin Sullivan/Getty Images / Getty Images)
The decision comes as more consumers are buying books through online outlets like Amazon.
Books will remain in around 100 Costco stores across the country all year, however, trade news magazine Publisher’s Weekly reported this week.
The decision to keep some books in stores would be a reversal from the store’s earlier plans, the outlet reported.
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In January, Costco will remove the store’s popular book section from the majority of its 600-plus stores in the United States. (Patrick T. Fallon/AFP via Getty Images / Getty Images)
Publishing and Costco executives will also be watching sales trends for Taylor Swift’s official Eras Tour book, which is being sold exclusively at Target starting on Black Friday, Publisher’s Weekly reported.
If book sales continue to do well, Costco could bring literary sections back to more stores, according to the magazine, or all of them could become seasonal if sales lag.
Stacks of books are displayed for sale inside a Costco warehouse store in Inglewood, Calif., June 12, 2024. (Patrick T. Fallon/AFP via Getty Images / Getty Images)
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FOX Business has reached out to Costco for comment.
