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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

    Quote Originally Posted by fmw View Post
    I would consider it a retail store. It certainly isn't a wholesaler.
    Well, it's semantics, isn't it? It would be more correct to call Costco a Retail Warehouse Club or a Warehouse Retailer. Although one is purchasing "at retail," they are buying wholesale quantities. Really it's whatever you want to call it. But one can't quite compare Costco to Target as an example. Their business models are very different.

    Fiscal year ending in 2012 saw Costco's membership revenue contribute $694 million. Normal retail stores like WalMart and Target have no such opportunity. Costco profit rises on higher membership fees - Chicago Tribune
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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, it's semantics, isn't it? It would be more correct to call Costco a Retail Warehouse Club or a Warehouse Retailer. Although one is purchasing "at retail," they are buying wholesale quantities. Really it's whatever you want to call it. But one can't quite compare Costco to Target as an example. Their business models are very different.

    Fiscal year ending in 2012 saw Costco's membership revenue contribute $694 million. Normal retail stores like WalMart and Target have no such opportunity. Costco profit rises on higher membership fees - Chicago Tribune
    I don't think there is any comparison...

    One store (Walmart/Big K/ Target etc sells items to customers on a walk-in basis and the other outlet (Costco) sells to club members only. Bulk has nothing to do with it.

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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
    I don't think there is any comparison...

    One store (Walmart/Big K/ Target etc sells items to customers on a walk-in basis and the other outlet (Costco) sells to club members only. Bulk has nothing to do with it.
    I think the point of the thread was that a business can make a good profit while paying their employees enough that they don't qualify for food stamps.
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    Re: Costco's Profit Soars To $459 Million As Low-Wage Competitors Struggle

    Quote Originally Posted by Dittohead not! View Post
    I think the point of the thread was that a business can make a good profit while paying their employees enough that they don't qualify for food stamps.
    Obviously revenue plays a roll in that does it not?

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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
    Obviously revenue plays a roll in that does it not?
    Obviously.

    Revenue comes from attracting buyers, which Costco does well, and so does WalMart.
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    Re: Costco's Profit Soars To $459 Million As Low-Wage Competitors Struggle

    Quote Originally Posted by Dittohead not! View Post
    Obviously.

    Revenue comes from attracting buyers, which Costco does well, and so does WalMart.
    But Costco provides merchandise to the small business which in turn sells its product to "walk-in" customers. Wallmart and the rest serve walk-in customers at good prices because they make their own crap.

    Not to mention the taxes for both are different as is the consumer at the register.

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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
    But Costco provides merchandise to the small business which in turn sells its product to "walk-in" customers. Wallmart and the rest serve walk-in customers at good prices because they make their own crap.

    Not to mention the taxes for both are different as is the consumer at the register.
    Most Costco shoppers are buying for their families. Some obviously have small businesses, the ones buying a dozen cartons of Pepsi, for example, but they're the exception.

    the consumer at the register is someone who has money, needs goods, and is willing to trade money for goods. How is that any different in any business?

    I'm no sure about taxes. Costco does collect sales taxes.
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    Re: Costco's Profit Soars To $459 Million As Low-Wage Competitors Struggle

    Quote Originally Posted by Dittohead not! View Post
    Most Costco shoppers are buying for their families. Some obviously have small businesses, the ones buying a dozen cartons of Pepsi, for example, but they're the exception.

    the consumer at the register is someone who has money, needs goods, and is willing to trade money for goods. How is that any different in any business?

    I'm no sure about taxes. Costco does collect sales taxes.
    The ones buying in bulk are NOT an exception - they're businesses or shop once a month or twice a year.

    My family has a Costco membership and a couple weeks ago I was talking to my mom and she said "for this membership price do I really get savings" and we went into the same discussion/debate this thread is on and both me and her agreed that Costco is only useful for businesses and those who need to feed a family of 10+ and that no savings occurred if an individual didn't do their regular shopping there.

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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
    The ones buying in bulk are NOT an exception - they're businesses or shop once a month or twice a year.

    My family has a Costco membership and a couple weeks ago I was talking to my mom and she said "for this membership price do I really get savings" and we went into the same discussion/debate this thread is on and both me and her agreed that Costco is only useful for businesses and those who need to feed a family of 10+ and that no savings occurred if an individual didn't do their regular shopping there.
    simply not true, there are MANY items at Costco like milk, eggs, cheese, meat, etc that is a far better better than places like Walmart for the same quality. You may not be able to do ALL your shopping, but if you do it right the items you buy, even after your membership cost, are better deals. I too have a Costco kmembership and do not have a family of 10+ so please speak for yourself.

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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
    But Costco provides merchandise to the small business which in turn sells its product to "walk-in" customers. Wallmart and the rest serve walk-in customers at good prices because they make their own crap.

    Not to mention the taxes for both are different as is the consumer at the register.
    I don't think so. Small businesses buy there for things they consume themselves. How would one make a living marking up things that any tom, dick and harry can buy at Costco?

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