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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 Dittohead not! View Post
    I like Trader Joe's too. They have good stuff, and at roughly the same price as discount grocery stores. Some of their store brands are actually better than the name brands. I buy almost all of my breakfast cereal there.

    Ever try their store brand beer?

    I'm not sure what they pay their employees, but they seem contend and, more importantly, competent.

    The starting pay at Trader Joe's for a full-time employee is between $40,000 and $60,000 a year, more than twice what some of its competitors offer.
    link...

    I haven't tried their beer though. Their veggies are quite nice.
    Last edited by poweRob; 05-31-13 at 12:21 AM.
    Quote Originally Posted by Moderate Right View Post
    The sad fact is that having a pedophile win is better than having a Democrat in office. I'm all for a solution where a Republican gets in that isn't Moore.

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

    Quote Originally Posted by jmotivator View Post
    Right, so the point is that to be able to afford paying employees more money they have to employ fewer people. TA DA!! Vive la revolution!

    Edit: Oh, and carry higher end products than they currently do because poor people in the store are bad for business...
    Their prices beat Sam's Club. Nevermind that though... you may continue destroying your own strawmen.
    Quote Originally Posted by Moderate Right View Post
    The sad fact is that having a pedophile win is better than having a Democrat in office. I'm all for a solution where a Republican gets in that isn't Moore.

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

    Venture Capital. A company that owns companies. Similar to Bain or Colony.



    Quote Originally Posted by Dittohead not! View Post
    VC firm?

    I don't know what that stands for, but i sincerely hope you're wrong.

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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 like Trader Joe's too. They have good stuff, and at roughly the same price as discount grocery stores. Some of their store brands are actually better than the name brands. I buy almost all of my breakfast cereal there.

    Ever try their store brand beer?

    I'm not sure what they pay their employees, but they seem contend and, more importantly, competent.
    I buy their store brand wine, along with other wineries. It's very good. I also like that they will buy out a bottling if it's really good. Such is the case with one of my favorites I discovered last summer. This year's vintage is only at Trader Joe's. More affordable than last year's which was available for purchase around the area.

    To the OP, I offer anecdotes. A tale of two women. One, a family member who worked at Costco. The other, a family friend, a senior who works at Walmart. The Costco employee loved her job. She worked there 3 1/2 years, until she had to move away with her husband. They treated her well. She was part time because she was a student. She was earning $10 to start, for working carts, the gas station or in the bakery. Where ever she said she would work (they asked her). A year and a half in, they raised her pay a dollar an hour because Costco wanted wanted pay uniformity across their company. They were paying less in Oregon because the economy is cheaper here. They rectified that. Freaking awesome. If she had been willing to take on full time hours, there were opportunities for her to move up, but that was never the case.

    Now, family friend. A senior who must work to make ends meet. She can only ever get part time hours. I'm not privy to her pay, but she's not rolling in money. They dork her hours around, she can't make plans sometimes because they post then rescind and reschedule her. My mom has told me stories of her being the only one covering two departments, like paint and housewares. Exhausting and she was abused by customers.

    Just my two cents. I love Costco.
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    Re: Costco's Profit Soars To $459 Million As Low-Wage Competitors Struggle

    Further examples within the same industry would be Whole Foods and Publix, they are excelling in growth and profits while maintaining good wage levels for employees.

    Examples in the other direction where wages are low and profits are dropping would be Target, Lion Foods and Albertson's.

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

    Quote Originally Posted by Thrilla View Post
    I can see the morale argument... productivity though?.. not so much.

    whether I go into Costco or Walmart, the shelves are stocked and people help me find stuff....I doubt you'll find differing levels of productivity.

    what I usually find at Walmart, as opposed to Costco, is ...employees.
    there's lots of employees running around Walmart... not nearly so many running around Costco.... customer service is not their schtick.( it's a retail versus wholesale difference)
    Its easy to have lots of employees when you pay them minimum wage and only a handful of them work full time.
    "A nation can survive its fools, and even the ambitious. But it cannot survive treason from within. An enemy at the gates is less formidable, for he is known and carries his banner openly. But the traitor moves amongst those within the gate freely, his sly whispers rustling through all the alleys, heard in the very halls of government itself. For the traitor appears not a traitor; he speaks in accents familiar to his victims, and he wears their face and their arguments, he appeals to the baseness that lies deep in the hearts of all men. He rots the soul of a nation, he works secretly and unknown in the night to undermine the pillars of the city, he infects the body politic so that it can no longer resist. A murder is less to fear"

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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.
    A person/business needs to be a member to shop at Costco. Costco is a wholesale outlet for members only - your average "Joe" just cant come in off the street and shop there without paying a membership fee (Join Costco).

    The only "competition" Costco has is Sams Club.

    Using Costcos "bragging" that they have 50,000,000 members at $55.00 minimum for a membership that is 2.75 billion in revenue just on a subscription basis.

    That's how Costco makes its money.
    Last edited by Mr.Nick; 05-31-13 at 07:51 AM.

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

    I've shopped at Costco and Sam's Club for quite a long time. I usually choose which by the proximatey to where I'm living. In all honesty, I've never really noticed much difference in service or quality of goods. Both have pretty good meat and produce departments. Overall, they're both pretty good. I do like Kirkland brand booze (their vodka is Grey Goose and scotch is Macallan ), but thats really a niche aspect of Costco.


    So they have different business models, so what. If thats that important to you, pick one over the other.

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

    Quote Originally Posted by poweRob View Post
    The starting pay at Trader Joe's for a full-time employee is between $40,000 and $60,000 a year, more than twice what some of its competitors offer.
    link...

    I haven't tried their beer though. Their veggies are quite nice.
    Trader Joe's has great food, but I get claustrophobic in there. Its just too damn small. I send my wife in there alone, but I prefer Aldi. They both have the same general business plan(internal marked goods), with Trader Joe's going for the "Joe" name on everything and Aldi doing generic.

    Most of the food is the same between the two, just packaged different.

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

    $459 million is entirely too much profit, they could get by with half that much profit and remove the membership fee that keeps out normal working class people.

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