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Costco CDR (CAD Hedged)
Symbol COST
Shares Issued 6,700,000
Close 2024-09-30 C$ 41.22
Market Cap C$ 276,174,000
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Globe/wire say Walmart, Costco brace for port strike

2024-10-01 08:19 ET - In the News

See In the News (C-WMT) Walmart CDR (CAD Hedged)

The Globe and Mail reports in its Tuesday edition that U.S. East and Gulf Coast port workers were set to go on strike with no talks scheduled to head off a stoppage threatening to halt container traffic from Maine to Texas. A Reuters dispatch to The Globe says the labour contract between the International Longshoremen's Association (ILA) union representing 45,000 port workers and the United States Maritime Alliance (USMX) employer group expired late Monday, with negotiations at an impasse over pay. "All signs are that there will be a strike," said Port Authority of New York and New Jersey's Rick Cotton. He said the gates of the marine terminals were set to close at 5 p.m. ET on Monday and nearly 100,000 containers will remain stored at the port until the strike is ended. Another 35 ships will remain at anchor during the strike. The U.S. Chamber of Commerce urged President Joe Biden to use his authority to prevent a walkout for 80 days, saying it "would be unconscionable to allow a contract dispute to inflict such a shock to our economy." Mr. Biden said on Sunday he did not plan to intervene. Walmart, the largest U.S. container shipper, and Costco say they are doing everything they can to mitigate any impact.

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