Costco will close all of its U. S. stores in response to a new cybersecurity risk, CEO Bill Smith announced Wednesday.
The news comes after the company was hit with a breach last week that forced the company to shutter its flagship stores in Las Vegas and New York City.
The company’s decision comes as the Trump administration has moved to ramp up its efforts to protect its financial interests and companies.
Trump is pushing Congress to approve legislation that would force companies to reveal more information about cybersecurity risks.
The legislation is a response to the cyberattack that exposed sensitive data of more than 400 million consumers.
“We have been and will continue to work closely with our partners at the Department of Homeland Security to provide this security assurance, and we will continue our efforts to educate our customers about the risks and vulnerabilities that are inherent in the industry, including our cost-cooperative business model,” Smith said in a statement.
The Trump administration and the financial industry have been pushing the idea of cybersecurity since the election, and have been vocal in their criticism of the way the government is enforcing its cybersecurity laws.
The cybersecurity threat is also a concern for retailers, who rely on their business model to provide a cushion against the effects of a cyberattack.
Some retail companies have warned that they could close stores in the future as a result of the Trump Administration’s cybersecurity plans.