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Costco CFO Richard Galanti to step down

Costco CFO Richard Galanti to step down

Costco Wholesale Corp. announced today that chief financial officer Richard Galanti intends to step down from that role, effective March 15. Gary Millerchip, who has served as senior vice president and chief financial officer at Kroger Co., will succeed him in that role.

Amazon’s Q4 performance beats expectations

Amazon’s Q4 performance beats expectations

Amazon on Thursday reported fourth-quarter sales and earnings that topped analysts’ expectations, driven in part by a “record-breaking” holiday season. The company said its net sales increased 14% to $170.0 billion in the fourth quarter ended December 31, up from $149.

Chocolate prices go up as cost of cocoa rises

Chocolate prices go up as cost of cocoa rises

U.S. consumers are paying more for chocolate products as confection manufacturers raise prices in response to the soaring cost of cocoa. Cocoa prices are nearly 65% higher than they were one year ago, and New York futures prices are at a 46-year high.