Somebody there told me they don't make much off the goods they sell,
most of their profit is from the membership fees. I'm not quite sure
how that works, I have the Exec membership, which costs like a $100, and
I got $78 back this year on the rebate it comes with. They told me when
I got it if I don't get the cost of it back they will credit it to me,
but I have not gone and asked for it so I don't know. I guess I should
try but I never remember to do it. Its a store credit, so not cash, but
if you use it then you pay less cash.
Costco stuff is indeed of considerable quality and the prices are lower
or competitive on value, and if you have any issue whatsoever they will
replace or refund no questions asked. You really can't go wrong. Gas
is a lot cheaper too, usually like 10cents/gal.
I had Sams in Houston as they were fairly close by, and it was OK but I
like Costco better.
--R
On 3/2/15 3:45 PM, Greg Fiorentino wrote:
Well, although both Costco and Sam's are warehouse stores, I think their
business models are very different. Disclaimer: I have never set foot in a
Sam's, although I have a nephew who works for them. Costco has a reputation
for selling high quality merchandise and foods at reasonable prices. Costco
has a reputation for paying their employees well, and having very low turnover.
Reportedly, Costco has resisted increasing their profit margin at the expense
of consumers. I don't think Sam's shares these reputations.
Greg
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