MaggieD
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I assumed they were also including corporate workers... marketing, finance, HR, etc. it doesn't seem unreasonable then.
My guess is they probably take "total number of employees / total payroll" and come out at $45k. Costco here in Central CA pays $10/12 an hour. Even at the later that would be $25k based on a full time job; and most aren't 40 hours either.
Are you a.dedicated Walmart shopper?
My
guess is they probably take "total number of employees / total payroll" and come out at $45k. Costco here in Central CA pays $10/12 an hour. Even at the later that would be $25k based on a full time job; and most aren't 40 hours either.
what does Walmart pay? Min wage?
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 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?
Whatever people are willing to work for.
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.
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.
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.
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.
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.
I would consider it a retail store. It certainly isn't a wholesaler.
And shut down most of their stores, keeping only a relatively small number of Sams Clubs open.So you see, everyone? HuffPo's moral here is that Walmart and Sam's Club should fire half of their staff.
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
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.
Obviously revenue plays a roll in that does it not?
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.
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.
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.
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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