Costco's new Visa card is off to a hot start

America’s top retailers in trouble

Warehouse retail king Costco recently ended its relationship with American Express in favor of a new one with Visa and Citigroup. And after a bit of a bumpy start, it looks like the new deal is starting to pay off.

Costco (COST)chief financial officer Richard Galanti said in a conference call with investors Thursday that nearly 11.5 million former Costco AmEx cards have now been transferred to Visa (V) and Citi (C).

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