Private Label Sales Pressure CPGs: Costco

May 29, 2009
Costco Wholesale Corp. here said yesterday consumer packaged goods manufacturers are starting to reduce prices, possibly in reaction to rising private-label sales.

According to Richard A. Galanti, executive vice president and chief financial officer, “The branded companies are not passing all the savings back yet, but we're starting to see them do so, which is the right thing to do — and it's great for customers.”