Costco Wholesale Corp. said Wednesday that its earnings for the current quarter will be lower than expected as it delays raising prices on items from food to patio sets amid soaring energy costs that have accelerated in recent weeks. Shares in the nation's No. 1 warehouse club operator - which had been one of the few bright spots in retailing - plummeted almost 12 percent Wednesday. Rival BJ's Wholesale Club Inc. fell more than 10 percent as investors see Costco's willingness to hold prices on some products steady as a sign BJ's may have to do the same. The reduced profit outlook from Costco reflects a dilemma that retailers, particularly low-price operators, face as the economy struggles: whether to raise prices on products - which could cost them customers - or resist price increases from suppliers as long as possible, a move that depresses profits as they absorb higher costs. ...
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