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Thread: Costco's Profit Soars To $459 Million As Low-Wage Competitors Struggle

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    Re: Costco's Profit Soars To $459 Million As Low-Wage Competitors Struggle

    Whatever people are willing to work for.

    Quote Originally Posted by SheWolf View Post
    I guess it defeats the argument that min wage is just for teens, and not for working people with families. If we get rid if min wage, what would Walmart pay then?

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    Re: Costco's Profit Soars To $459 Million As Low-Wage Competitors Struggle

    Quote Originally Posted by CalGun View Post
    Whatever people are willing to work for.
    When illegals get the right to work legally what do you think happens to the supply demand ratio for unskilled labor.

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    Re: Costco's Profit Soars To $459 Million As Low-Wage Competitors Struggle

    Quote Originally Posted by MaggieD View Post
    Well, I don't believe it. I don't know how they arrived at "the typical Costco employee makes $45,000 a year," but I don't buy it. I don't care what the survey shows.
    Unless it is the average for full time workers that they are comparing, the numbers are meaningless. I notice they don't say what they are comparing.

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    Re: Costco's Profit Soars To $459 Million As Low-Wage Competitors Struggle

    Quote Originally Posted by CalGun View Post
    And that is wrong how? Wal Mart v Coscto is also wildly different in terms of SKU's or number of different items.

    But I will say this, Costco has free shipping and I love their 42lbs of lentils for $74.99. That bucket last a whole year. I think that's how they need to feed the food stampers.
    I heartily agree about how to feed people on food stamps.

    Now, how much do government subsidies and welfare add to the cost of that $74.99 worth of lentils?

    I can see the little smilie face price tags now:
    Price: $74.99 (smilie face)
    Plus sales tax, cost of food stamps, reverse income tax, free this, free that, the rest of the trillion dollars we spend on income tested welfare programs

    Total price $??
    "Donald Trump is a phony, a fraud... [he's] playing the American public for suckers." Mitt Romney

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    Re: Costco's Profit Soars To $459 Million As Low-Wage Competitors Struggle

    Quote Originally Posted by TheNextEra View Post
    Funny Costco does just fine with their pharmacy with paying their techs, pharmacists, and pharmacist cashiers above wages than average. Why don't you get back to us when you run YOUR own pharmacy.
    I was referring to Digsbe's comment about paying his employees above average salaries. Why don't you get back to us when you learn to read what I actually wrote.

    I've run my own business. How many businesses have you owned and operated?
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: Costco's Profit Soars To $459 Million As Low-Wage Competitors Struggle

    Yes, government.should.force the min wage Walmart workers to spend their food stamps at Costco lol

    Quote Originally Posted by CalGun View Post
    And that is wrong how? Wal Mart v Coscto is also wildly different in terms of SKU's or number of different items.

    But I will say this, Costco has free shipping and I love their 42lbs of lentils for $74.99. That bucket last a whole year. I think that's how they need to feed the food stampers.

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    Re: Costco's Profit Soars To $459 Million As Low-Wage Competitors Struggle

    Quote Originally Posted by poweRob View Post
    So much for the notion our economy is being destroyed because lazy Americans are overpaid. Not to mention, unlike WalMart, Costco employees don't qualify for food stamps and soak up $2.66 billion in taxpayer subsidies to run their business. Amazing ain't it?

    Costco's Profit Soars To $459 Million As Low-Wage Competitors Struggle

    A typical Costco worker made $45,000 in 2011, according to Fortune. That’s compared to Sam’s Club workers’ average salary of $17,486 per year, according to salary information site Glassdoor.com. Walmart has also been the target of protests by some of its workers, who are protesting what they say are the company’s low wages.

    The big box giant's profit jumped 19 percent to $459 million last quarter, thanks in part to the company’s efforts to offer discounts to lure more members, according to Bloomberg. The company was able to offer those discounts and boost its profits while paying its workers a decent wage, a claim many of Costco’s competitors can’t make.

    Nor can Costco's competitors claim growth quite like the wholesale retailer. Walmart’s sales suffered last quarter as shoppers struggled with a delay in their tax refund checks and a payroll tax hike. The company’s Sam’s Club unit, which is comparable to Costco, contended with similar obstacles in 2012.

    Target, another Costco competitor, lowered its earnings forecast for the year, after customers cut back, pushing the retailer’s profits down 29 percent.
    Costco is a subscription based PRIVATE wholesale merchandiser that charges a membership fee of $55.00 to $175.00 annually, hence Costco cannot be compared to stores like Walmart or Big K, Target etc.

    Costco would NOT be considered a "retail" store.

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    Re: Costco's Profit Soars To $459 Million As Low-Wage Competitors Struggle

    Quote Originally Posted by Mr.Nick View Post
    Costco is a subscription based PRIVATE wholesale merchandiser that charges a membership fee of $55.00 to $175.00 annually, hence Costco cannot be compared to stores like Walmart or Big K, Target etc.

    Costco would NOT be considered a "retail" store.
    I would consider it a retail store. It certainly isn't a wholesaler.

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    Re: Costco's Profit Soars To $459 Million As Low-Wage Competitors Struggle

    Quote Originally Posted by fmw View Post
    I would consider it a retail store. It certainly isn't a wholesaler.
    It's not a retail store because you just cant walk into Costco and make purchases without a club membership (which costs $55.00 minimum).

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    Re: Costco's Profit Soars To $459 Million As Low-Wage Competitors Struggle

    Quote Originally Posted by jmotivator View Post
    So you see, everyone? HuffPo's moral here is that Walmart and Sam's Club should fire half of their staff.
    And shut down most of their stores, keeping only a relatively small number of Sams Clubs open.

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