19 Impressive Costco Statistics [2023]: Revenue, Store Count, Trends, Facts, And Predictions - Zippia (2024)

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19 Impressive Costco Statistics [2023]: Revenue, Store Count, Trends, Facts, And Predictions - Zippia? ›

Costco has 123 million members as of February 2023. Costco has 304,000 employees, with 203,000 of those working in the U.S. Costco generates $222.7 billion of revenue annually. Costco is the sixth-largest retailer in the world and the third-biggest in the US, behind Walmart and Amazon.

All told, Costco ended its fiscal 2023 third quarter with nearly 125 million cardholders, representing year-over-year growth of roughly 7%. Its net sales for the first 36 weeks of fiscal 2023, in turn, grew by 5.5% to a whopping $160 billion, while its income rose by 4% to $4 billion, or $9.30 per share.

He did make it clear that that timetable was flexible, but hinted that an increase was on the horizon. "It's a question of when not if," he said. It's important to note that the typical Costco shopper has a considerably higher household income than those who rely on Target and Walmart: $128,000 versus $80,000.

The Iwelei Costco on Oahu Island in Hawaii is the busiest in the world. Costco estimates that 1 in 4 residents of the island are Costco members, and with Oahu having a population of over 950,000, it's easy to see why this location gets a lot of foot traffic.

Stock Price Forecast

The 29 analysts offering 12-month price forecasts for Costco Wholesale Corp have a median target of 545.00, with a high estimate of 610.00 and a low estimate of 465.00. The median estimate represents a +7.44% increase from the last price of 507.25.

For the four-week reporting month of February, ended February 26, 2023, the Company reported net sales of $17.06 billion, an increase of 4.7 percent from $16.29 billion last year.

Because of its limited range of products, Costco can stay committed to delivering high-quality items at the lowest prices. Because of its efficient inventory management system and constant revenue from membership fees, Costco can keep its gross profit margins lower than most other retailers.

Costco makes a small percentage of its profits from its merchandise, whereas the bulk of its profits come from its membership dues. Only members can shop at Costco. The membership business model allows Costco to undersell the competition by offering products in bulk at lower prices to ensure customer loyalty.

Thanks to its low prices and excellent customer service, Costco has become a favorite shopping destination for millions worldwide. Today, Costco presents a large selection of merchandise and offers specialty departments and exclusive member services to make the shopping experience comprehensive and convenient.

What is Costco's lowest paying position? ›

FAQs About Costco Wholesale Company

Costco Wholesale Company employees with the job title Warehouse Supervisor make the most with an average hourly rate of $23.93, while employees with the title Front End Clerk make the least with an average hourly rate of $14.83.

Costco shoppers, on average, are younger and have higher incomes than those of its primary competitor, Sam's Club, according to an analysis from Coresight. You could attribute some of the income difference to the cost of Costco's membership — it's $10 more per year than Sam's Club's.

Costco's pricing strategy

Pricing is another key part of Costco strategy to encourage customers to increase their interactions with the brand. Costco prices products at 14-15% markup above costs. This gives it an average profit margin of just 2%, and positions the brand firmly within the wholesale market.

That's right, Costco's best-selling item is toilet paper. They sell more than a billion rolls every year. The high quality and warehouse price of Costco's Kirkland brand toilet paper make it fly off the shelves every day.

What is the busiest Costco in the world? The Iwelei Costco on Oahu Island in Hawaii is the busiest in the world. Costco estimates that 1 in 4 residents of the island are Costco members, and with Oahu having a population of over 950,000, it's easy to see why this location gets a lot of foot traffic.

A store in Cumming, Georgia, took the lead in first place, with a Kansas City, Missouri store in second, and the San Antonio store at 5611 UTSA Boulevard following closely behind. Stores in Centerville, Ohio and Houston-Galleria rounded out the top-ranked Costco locations list.

It plans to open 24 net new stores in fiscal 2023, and it typically opens between 20 to 25 stores in a given year. If we take 22 per year as a conservative estimate, that should bring it up to about 960 stores in 2028.

On average, Wall Street analysts predict that Costco's share price could reach $547.19 by May 26, 2024. The average Costco stock price prediction forecasts a potential upside of 6.75% from the current COST share price of $512.60. What is COST's forecast return on assets (ROA) for 2023-2026?

ISSAQUAH, Wash., April 19, 2023 (GLOBE NEWSWIRE) -- Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today announced that its Board of Directors has declared a quarterly cash dividend on Costco common stock and approved a quarterly increase from 90 cents to $1.02 per share, $4.08 on an annualized ...

What is the Costco 2% reward? ›

Reward is approximately 2% of pre-tax purchases (less refunds) of most merchandise purchased through: front-end registers, most ancillary business registers at Costco warehouses and Costco websites in the U.S. and Canada by U.S. and Canadian residents and qualifying purchases made directly from Costco Travel once ...

Since the company has avoided stock splits for two decades, and the business momentum seems to be fading, a stock split for Costco seems unlikely in the near future.

Obey the law. Take care of our members. Take care of our employees. Respect our suppliers.

The five critical success factors are strategic focus, people, operations, marketing, and finances. How to find success factors? The first step in finding and identifying success factors is understanding the overall objective of a project and the processes required to achieve it.

Costco Wholesale Corp's (COST) main competitors in the highly competitive retail market of large discount stores are Walmart Inc. (WMT) and Target Corporation (TGT). These companies are also sometimes classified as consumer defensive stocks.

Toilet paper

Yes, that's right! Costco's best-selling item is its Kirkland Signature Bath Tissue. It sells more than a billion rolls every year, bringing in over $400 million dollars in revenue. Costco's toilet paper is thicker and more absorbent than most other brands.

Around $153 billion or more than 91% of Costco's annual comes from its in-store sales. The company also generate revenues through its retail sales and its membership model.

Weaknesses of Costco

The consumer can only purchase the goods in bulk, individual choices are limited. The availability of Costo warehouses is less as compared to different other retail shops. Due to the low-price strategy, the profit margin is low.

The answer is simple — In an ingenious marketing masterplan, Costco purposely sells a few items at a loss to drive customers into their stores. In essence, Costco's business strategy revolves around losing a few small battles to ultimately win the business war.

Costco's Generic Strategy (Porter's Model)

This generic strategy entails low costs typically reflected through low selling prices. Customers expect significant savings when they buy at the company's stores. However, other big-box retailers also use the cost leadership generic competitive strategy.

What is the easiest job at Costco? ›

The easiest job at Costco is a front end assistant, and most entry-level jobs start at this position. Other jobs that are easy for employees at Costco include all entry-level employees like cashier assistant, food service assistant, food court worker, or customer service representative.

“Does a Costco employee get a free membership?” is the top question people wonder about being a Costco employee, and the answer is … yes. Employees get one free Costco membership for themselves, plus three additional free memberships for others.

Multiple Yearly Bonuses

Although this is a perk you only get after working for the company for a few years, it's a good one. According to Costco's website, "we provide twice-yearly Extra Checks (bonuses) for long-tenured hourly employees."

As of 2019, Costco is ranked #14 on the Fortune 500 rankings of the largest United States corporations by total revenue. The ACSI (The American Customer Satisfaction Index) named Costco number one in the specialty retail store industry with a score of 84 in 2014.

Kirkland Signature is owned by Costco, which makes it a private label. That means they control their prices by ruling out third-party distributors. The result? Prices that are typically 20% lower than traditional retail, which is part of what keeps customers coming back (via Business Insider).

Costco's members are extremely loyal. This is likely because Costco is known for selling high-quality items at affordable prices, which customers love. It also doesn't hurt that shoppers who know a few ingenious Costco hacks can save even more when shopping there.

Sale items end in a double zero or seven.

While 007 means Bond in the rest of the world, in Costco, 007 means Sale. Big Sale. “If you see an item marked down and its price ends in . 97 or in an even . 00 (say, $5.00), then you know it's on clearance,” Clark says.

49 or . 79 are manufacturer's specials. These are products that manufacturers are testing out at Costco, usually at a lower price than Costco will eventually sell them. Prices ending in . 00 are the best deals you will find in the store.

If a price ends in .98 or .99, “That means Costco didn't get a special deal from the supplier… It's not on sale or marked down in any way.” But any other price that ends in “.x9"—like .29 or .79—indicates a manufacturer deal, which means that Costco bought these items in bulk, meaning more of a bargain for you.

Kirkland Signature

This label, familiar to Costco shoppers, is actually the company's house brand and a Costco subsidiary. It produces dozens of products under the Kirkland Signature brand name, including groceries and packaged food items.

Is Costco high quality? ›

Many people assume that because it's a house brand, Kirkland Signature is of lower quality than its name-brand competitors. In fact, many Kirkland products are just as good or even better than name brands in terms of quality and performance -- but they cost significantly less.

The Vanguard Group, Inc.

That's according to a survey of more than 4,000 U.S. adults conducted by job site Indeed, which analyzed more than 100 million employer reviews on its platform and compiled this list of the top-rated workplaces for compensation and benefits. For the second year in a row, retail giant Costco took the top spot.

Costco's CEO and Director is W. Craig Jelinek. Costco's key executives include W. Craig Jelinek and 49 others.

This is because of its low prices, unique and large selection of products, free samples, cheap food, and clever shopping hacks. That doesn't mean everyone would rather be shopping at Costco, as stores like Publix and Wegmans also have extremely devoted customers.

If growth is your goal and you're willing to pay a slight premium for more opportunities, Costco is the better buy. If you're looking for a more approachable cost per share or looking to score a better deal, then Walmart is the buy for you.

Costco revenue for the twelve months ending February 28, 2023 was $234.390B, a 11.5% increase year-over-year. Costco annual revenue for 2022 was $226.954B, a 15.83% increase from 2021. Costco annual revenue for 2021 was $195.929B, a 17.49% increase from 2020.

Costco gross profit for the twelve months ending February 28, 2023 was $28.285B, a 6.33% increase year-over-year. Costco annual gross profit for 2022 was $27.572B, a 9.22% increase from 2021. Costco annual gross profit for 2021 was $25.245B, a 15.69% increase from 2020.

ISSAQUAH, Wash., April 19, 2023 (GLOBE NEWSWIRE) -- Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today announced that its Board of Directors has declared a quarterly cash dividend on Costco common stock and approved a quarterly increase from 90 cents to $1.02 per share, $4.08 on an annualized ...

What is the main source of revenue for Costco? ›

Costco makes a small percentage of its profits from its merchandise, whereas the bulk of its profits come from its membership dues. Only members can shop at Costco. The membership business model allows Costco to undersell the competition by offering products in bulk at lower prices to ensure customer loyalty.

Costco's annual membership fee generated $3.9 billion in 2021, almost 80% of its profit that year. Annual membership fees allow Costco to offer their products at lower prices.

Costco has 123 million members as of February 2023. Costco has 304,000 employees, with 203,000 of those working in the U.S. Costco generates $222.7 billion of revenue annually. Costco is the sixth-largest retailer in the world and the third-biggest in the US, behind Walmart and Amazon.

According to data from Glassdoor, Costco employees rated the company a 4 out of 5, putting it well ahead of competitors like Sam's Club and Target (TGT). Longtime CEO Craig Jelinek earned an approval rating of 85% from its staff, surpassing Amazon's (AMZN) Andy Jassy and Walmart's (WMT) Doug McMillon.

The research-driven investment advisor points to Costco's strong membership renewal rate of nearly 93% in the U.S. and Canada and 90.5% globally as a healthy harbinger. Costco generates most of its profits from its annual memberships fees and membership rose 7% last year.

Apr 24, 2023 (Baystreet.ca via COMTEX) -- Last week, Costco Wholesale (NASDAQ:COST) announced that it was raising its dividend from 90 cents per share to $1.02, for an increase of 13%. With the increase, investors will now be collecting $4.08 per share over the course of a full year, which equates to a yield of 0.81%.