The looming threat of 18,000 Costco store employees heading to the picket lines appears less likely, with the Teamsters labor union announcing Saturday that it has reached a tentative agreement for a new contract with the grocery chain.

Costco and Teamsters union reach tentative agreement, averting potential strike. Negotiations were intense, with demands for better wages and benefits.

U.S.-based membership-only retail chain Costco (COST) has dodged a nationwide strike after Teamsters agreed to a tentative deal. The