It’s a bargain hunter’s paradise at CostCo’s new Everett, Massachusetts location. Bananas.
The bag is 99 cents. Sure, 33 cents a pound.
Tommy Hilfiger dress shirts, 19.99. A flat screen television for under 3,000. CEO and co-founder Jim Sinegal points out the seafood.
Tommy Hilfiger品牌的男西服襯衫，19.99美元；純平電視，不到3000美元。首席執行官兼創始人之一的Jim Sinegal把大家的注意力指向海產品。
Jim Sinegal, CEO, CostCo
I mean, are those the biggest lobster tails you have ever seen?
Founded in 1983, CostCo has grown to more than $38 billion in annual revenue, 407 stores. Customers gladly pay an annual membership fee to shop and buy in bulk.
We put a maximum on the amount of markup, so oftentimes by category, that the buyer can have, but no one in the company can mark anything up more than 14 percent without specific approval, and that approval has to come from me.
This is not wide enough.
Sinegal visits at least 30 stores a month, meeting with employees.
Many of our employees have been talking about the fact that they really appreciate their jobs, they appreciate the benefits, they appreciate the fact that the company is solid, and moving in the firth direction, the fact that they feel secure.
Security comes in the from of one of the best salary structures in the industry. A cashier earns $40,000 a year with full benefits. Ninety percent of CostCo’s employees are eligible for benefits.
We consider ourselves in this business for the long tern, and we are going to continue to run on that basis. You don’t do your shareholders any favors when you turn your employees faster than your merchandise.
And shareholders are pleased as well. Over the past five years, CostCo is 45 percent higher, and the retailer starting expensing stock options this fiscal year.
No matter how we slice it, the options were a form of compensation for people in our company, and it’s most appropriate to expense them, and we have done that. We have put that into place for this year.