The grocery chain Costco said it plans to expand its packing boxes for less than $100,000 to boost profits in the wake of the global financial crisis.
Costco’s stock was down $1.19, or 3.6%, to $84.97 in early trading.
Costco said Monday that the boxes will be priced at $99 for the base model and $109.99 for a deluxe package that includes two packs, a fridge and a refrigerator-mounted freezer.
Costco has sold about 16 million boxes since January.
The company said the boxes are now available online and at Costco retail stores.
Costco Chief Executive Officer Gary Fisher said in a news release that the company has made significant progress in the past six months.
Costco will offer the packs in more than 60 stores this fall.
The retailer also plans to sell new packaging and storage containers to reduce the number of boxes it sells.
“We have been working with Costco to develop our packaging, storage and packing strategies and this will be our next step to help us continue to deliver the value that we have been delivering for over 25 years,” Fisher said.
Costco recently announced plans to increase the size of its retail stores by up to 30% in the next few years.
The chain plans to add about 4,000 full-service stores in the U.S. and Canada, as well as 3,000 online.
The U.K.-based retailer has been struggling to increase sales since last year, as shoppers began to move away from Walmart, Target and other big-box retailers.