‘As concerns of a Covid-19 outbreak increase across the US, Costco stores are experiencing the second weekend of panic-buying of food, water, and hand sanitizers.
Last weekend we noted how the “great panic of 2020 is underway” as Americans made a mad dash to Costco stores and other big-box retailers to hoard supplies. Costco CFO Richard Galanti told investors during an earnings call last week that buying panic has “been nuts” adding that he attributes “this to concerns over the coronavirus.”
Stock prices for Walmart and Target have also benefited from the spread of the deadly virus, as people preparing for a quarantine situation load up shopping carts with bottled water, canned soup, instant mac and cheese and everything else that they could possibly need to wait out the virus. But the panic-buying has been leading to shortages and leaving people on edge. –WaPo
On the East Coast, tens of millions of Americans woke up on Saturday morning and heard the news about 44 total confirmed virus cases in New York, with a majority in Westchester, a suburb of NYC. PIX11 News’ Cristian Benavides tweeted a video of the panic that is developing in NYC this morning. He shows a long line of cars waiting to get into a Costco in Astoria, a neighborhood in Queens.’