In a recent earnings call transcript obtained by Huffington Post, Costco‘s chief financial officer has estimated that the whole foods retailer has made at least $4 billion annually in sales accrued from organic product.
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Based on this report, BMO Capital Markets analyst has predict that Costco could not possibly be overtaking Whole Foods. According to Kelly Bania, the analyst, Whole Foods averages about $3.6 billion in organic sales.
Costco’s chief financial officer, Richard Galanti, told Huffington Post that it does well because it works directly with supplier in North America and all around the world given its commitment to organic foods.
