The Costco opening in Shanghai has been awful, with many market watchers speculating that it won't survive. Costco is allowing refunds of purchased consumer goods, and as a result they have been seeing huge amounts of refunds of half consumed, opened goods as well as membership refunds.
Not sure this Costco model will work in China.
Ann: FOD receives $5.4 M Tranche 4 of Careline Investment, page-4
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