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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 ReformCollege View Post
    Costco is a great company. I completely support companies paying higher wages to their employees if they see a competitive advantage in doing so. But some of that might be by neccessity. Costco maintains a lot less employees per square foot then the other major supermarket in my area, Publix. So they may pay each employee more, but I'm willing to be their total labor costs are competitive if not lower then Publix's. And it shows when you go to Costco, its a different experience. You don't have an employee in every isle there to hold your hand. Which is fine with me, I'd rather pay lower prices.
    Wow I don't know where you're located but I've never had an employee hold my hand or see that many at Walmart of Sam's club. I've always found if you need help you have to walk the store until you find someone.

    If Walmart and Sam's club have so many employees why is they are always moving them around from department to department?
    Last edited by EnigmaO01; 05-31-13 at 12:27 PM.

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

    Quote Originally Posted by specklebang View Post
    Costco average is $38,756.00 here's my link Costco Wholesale Salaries | Glassdoor

    I was a high wage employer. The cost of training a new employee exceeds the value of keeping experienced employees not to mention that when you come to the office, your employees love you.
    My twin works at a Walmart. Moral is terrible as is turnover. My brother made the mistake of saying hello to the manager but only once. The manager gave him a scowl that would kill.

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

    Quote Originally Posted by AliHajiSheik View Post
    $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.
    And then they'd be like Walmart. Duh!

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

    Quote Originally Posted by EnigmaO01 View Post
    Wow I don't know where you're located but I've never had an employee hold my hand or see that many at Walmart of Sam's club. I've always found if you need help you have to walk the store until you find someone.

    If Walmart and Sam's club have so many employees why is they are always moving them around from department to department?
    Well the only other major supermarket in the area is Publix. And they do hold your hand.

    But as far as Walmart/Sam's Club vs. Costco, Costco still employs less people per square foot. When I went there, the only employees in the store are the butchers, the cashiers, and the people selling samples. I'm willing to bet that if you were to look at their labor costs vs. even Walmart, they would still be competitive.

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

    Quote Originally Posted by AliHajiSheik View Post
    $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.
    What on earth makes you think they should get by with half that profit? Seriously, is Costco in business to make you money? No. But I'm sure if you do shop there, you save a lot more then a measly $50 per year buying wholesale. I went to Costco last week and got almost 4.5 pounds of choice sirloin for $20. And it was delicious. Where else can you get that sort of a deal?

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

    Quote Originally Posted by ReformCollege View Post
    Well the only other major supermarket in the area is Publix. And they do hold your hand.

    But as far as Walmart/Sam's Club vs. Costco, Costco still employs less people per square foot. When I went there, the only employees in the store are the butchers, the cashiers, and the people selling samples. I'm willing to bet that if you were to look at their labor costs vs. even Walmart, they would still be competitive.
    Publix rocks! Best subs on the planet and I'm more than willing to pay a bit extra for a clean store with happy employees.
    “Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.” John Maynard Keynes

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

    Quote Originally Posted by haymarket View Post
    I know two people who own service stations. One whose family has been in the business for over forty years in the same location. Both tell me that they make their big money off the sale of the hundreds of other items that they sell which includes everything from breakfast sandwiches to candy to soda pop to magazines to milk and bread. They do make money off gasoline but not as much. And they both admit that they set prices determined by the competing stations closest to them. It is NOT customers which determine their prices but a combination of the major oil companies and their competition.

    The older one said that years ago, when they had two service bays, that is where the big profits came from but today the same space yields more profit per square foot in the afore mentioned items.
    Yes most gas stations do make more on the store portion, that is why you don't see to many with garages anymore, but most people don't pick which gas station they use based on the prices of the junk food in the store portion. They choose it on the price of the gas.
    There is only one basic human right, the right to do as you damn well please. And with it comes the only basic human duty, the duty to take the consequences.
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    Re: Costco's Profit Soars To $459 Million As Low-Wage Competitors Struggle

    Quote Originally Posted by iliveonramen View Post
    Publix rocks! Best subs on the planet and I'm more than willing to pay a bit extra for a clean store with happy employees.
    Costco is even better. Clean store, happy employees, AND ridiculously amazing prices.

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

    Quote Originally Posted by Heebie Jeebie View Post
    Yes most gas stations do make more on the store portion....
    Most gas stations make less than 10-20 cents on a gallon of gas. Its a safe bet that 70-90% of their profits come from the store.

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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.
    why not?
    "Human kindness has never weakened the stamina or softened the fiber of a free people. A nation does not have to be cruel to be tough."
    -FDR

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