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Costco Wholesale shoppers who are also avid readers may have to look elsewhere for books, as the retailer plans to stop selling them on a regular basis throughout the year starting in January 2025.
The New York Times, citing four publishing executives with knowledge of the retailer’s plans, said that Costco is planning to do away with selling its books all year. Costco’s reasoning is that the labor to stock and replace the books is cumbersome and that returning thousands of unsold copies creates added work for employees. The company may also be reducing sales of its printed books because of the rise of e-books.
The warehouse retailer said it plans to sell books during the holiday shopping season from September to December, and could potentially sell some during other months, but not regularly, the executives who spoke to the publication added.
Costco did not immediately respond to a request for comment.
Time will tell what kind of impact the move will have on the retailer’s bottom line. Costco, better known for its grocery items, its beloved hotdog combo, and even gold bars, previously discontinued selling books in Alaska and Hawaii.
Costco’s stock hit in all-time high just last week after it reported strong third quarter earnings that highlighted lower prices for groceries and new items like honey buns were capturing the attention of bargain hunting consumers.