SAN FRANCISCO – Costco Wholesale Corporation, (click here) one of the nation’s largest retailers, has agreed to cut its emissions of ozone-depleting and greenhouse gases from leaking refrigeration equipment at more than half of its stores nationwide.
In the settlement announced today by the U.S. Environmental Protection Agency and U.S. Department of Justice, Costco will pay $335,000 in penalties for federal Clean Air Act violations and will fix refrigerant leaks and make other improvements at 274 of its stores, which EPA estimates will cost about $2 million over the next three years.
“Because of this settlement, Costco will cut its future greenhouse gas emissions equivalent to nearly 200 million pounds of carbon dioxide, supporting our efforts to cut greenhouse gases nationwide,” said Jared Blumenfeld, EPA’s Regional Administrator for the Pacific Southwest. “Investing in better equipment and maintenance to stop wasteful refrigerant leaks is good for our environment and good for business.”...
Costco not only pays better but pays overtime as well. Costco doesn't find profit in short changing their employees. Costco employees have longevity and loyalty to their employer. (click here)
September 1, 2014
It’s not unusual to find people making the point that WalMart pays its workers quite a lot less than Costco does. Something which is true, they do. Costco pays around $20 an hour and WalMart more like $10 an hour on average. So the observation itself is obviously true. Unfortunately we then get people leaping to a conclusion, which is that we could reduce inequality, poverty even, if only we could force (or persuade) WalMart to offer its workers the same sort of deal those at Costco get. While attractive that’s not actually a plan that would work in reducing either poverty or inequality. The reason being that the two employ entirely different labour policies. And if we forced (or persuaded) WalMart to pay those higher Costco wages then we would be forcing (or persuading) them to take the other half of the Costco labour policy, which is to employ very much less labour in relation to sales....
If China wants to advance it's Middle Class it should recruit Costco to open stores that customers love with a living wage pay scale.
January 20, 2013
Costco ( COST ) (click here) is the largest warehouse retailer in the U.S. with over 400 warehouse clubs across the country. Apart from the U.S., the retailer also operates around 170 international stores in countries such as Canada, Mexico, United Kingdom, Japan, Taiwan, Australia and Korea. With over 50% revenue contribution, Costco U.S. is the most important business segment for the retailer, followed by its international operations. In 2011, Costco generated around $90 billion in revenues, significantly more than its direct competitor, Wal-Mart's ( WMT ) Sam's Club. Since Costco provides merchandise at discounted prices, its margins remain quite low (in the range of 10%).
Even with a stock price low today of $121.11, brokers are changing their options from neutral to buy. Costco has a stock market target of $126 within the year.
Costco Wholesale Corporation Stock Quote & Summary Data (click here)
Costco won cheers and congratulations from it's patrons for endorsing the minimum wage when President Obama first proposed it.
