Latest news with #GaryMillerchip
Yahoo
3 days ago
- Business
- Yahoo
Costco to open new locations in August: Here's where
(NEXSTAR) – While some may joke about not needing a year's worth of mayonnaise or enough nacho cheese to fill a kiddie pool, warehouse club Costco has loyal members around the world – a following set to expand with the opening of new locations in August. The new U.S. locations to open in August are in The Villages, Florida; Richland, Washington; Allen, Texas; and Spring Valley, Nevada. Costco will also be opening locations in Rimouski, Quebec; North Guadalajara, Mexico; and East Newmarket, Ontario, Canada. The expansion follows the June and July openings of stores in South Korea, Sweden and Midland, Texas. Chief Financial Officer Gary Millerchip said in March that Costco's goal is to open 25-30 new locations annually, split roughly between U.S. and international markets, according to USA Today. Costco, which is based in Issaquah, Washington, opened its first warehouse in Seattle in 1983. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. Solve the daily Crossword
Miami Herald
3 days ago
- Business
- Miami Herald
Costco finally makes food court change members demanded
Everyone who drinks soda has had the following exchange. "I'll have a Coke." "Is Pepsi okay?" The restaurant knows it isn't. Pepsi and Coke are not interchangeable and the reality is that most people prefer Coca-Cola products. Related: Costco gives members new benefit that stresses out workers Sprite, for example, is the dominant lemon-lime soda. PepsiCo PEP has a rival for it, Starry, a brand no person has ever intentionally ordered. Sales numbers back this up. In 2024, Coca-Cola was the most popular soda sold in the United States. That was followed by Dr. Pepper and Sprite. Pepsi came in fourth and you have to assume that a lot of those sales were people who ordered a Coke and were forced to accept the substitute. Diet Coke only fell slightly behind Pepsi with the much-superior Coke Zero coming in seventh just below Mointain Dew. Pepsi, of course, has its fans in the same way that some people thought the Monkees were better than the Beatles. Don't miss the move: Subscribe to TheStreet's free daily newsletter Still, while people will never fully agree on which cola is better, Coke has a large enough fanbase that when a business opts to serve Pepsi, customers wonder how much the brand paid for that access. Coca-Cola, however, has recently made some major inroads. It's about to replace Pepsi as the official soda of Carnival and it has finally made a major move at Costco. Image source: Shutterstock-Ant DM Given Costco's mission to save money for members, you might expect the chain to make some odd choices. If its food court offered Polar Soda or some other off brand that might have been sold to members as quirky. The warehouse club could also have made an effort to sell its food court concession to some up-and-coming brand. Members might have enjoyed seeing Jones Soda or some other brand looking to make a mark at the warehouse club's popular food court. Instead, Costco, for the past many years, has offered Pepsi at its food court. That meant that anyone ordering its famed $1.50 hot dog deal had no choice but to accept Pepsi along with their sandwich. More Retail: Walmart CEO sounds alarm on a big problem for customersTarget makes a change that might scare Walmart, CostcoTop investor takes firm stance on troubled retail brandWalmart and Costco making major change affecting all customers Costco, however, made the choice earlier this year to end its deal with PepsiCo and replace Pepsi with Coke. That was a move many members were excited about and the change has finally happened. it may take a little longer for your Costco to replace Pepsi with Coke, but the change is coming and it has actually happened at most of the chain's warehouse club locations. While Costco has invested in its digital operations, its food court and other in-store offerings remain incredibly important because most of the company's sales happen in its stores. CFO Gary Millerchip shared some insight on the company's digital business during its third-quarter earnings call. "So, if you just do the sort of math on our business and how we define digital, which, as a reminder, doesn't include the delivery solutions that we offer through Instacart. It doesn't include our travel business where most of it would be online. So, there's a number of elements that I think others might include in the sort of e-commerce business that we wouldn't," he said. Related: Costco members angry about price increase So, while the actual number is bigger, Millerchip shared how the company sees its digital business. "So, on the straight math on how we define it, it would be about 8% of our business. If we included some of the components that others would include, it probably takes it to slightly north of 10%. And then, if you would take gas out of our total sales, which I know, obviously, there isn't any commerce element to gas, it's around the 12% of total sales that we generate today," he added. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Yahoo
16-07-2025
- Business
- Yahoo
Costco set to open 4 new US locations in August. Here's where.
Costco is set to open seven new locations globally in August, including four of them in the United States. The next wave of stores comes on the heels of three new openings in South Korea, Sweden, and Midland, Texas in June and July, as well as a handful of new stores that opened in the U.S. this spring. The wholesale warehouse juggernaut is a staple of American shopping and a cult hero for shoppers around the world, with millions of card-carrying members and hundreds of locations in the U.S. and abroad. Costco aims to open 25-30 new locations each year, typically with half of them in the U.S. and the other half in international markets, chief financial officer Gary Millerchip said in March. Here is where Costco is opening next month. How Costco hooks shoppers: Come for the hot dogs, stay for the gold bars Costco lists seven locations with future opening dates in August on its "Coming Soon" page. Rimouski, Quebec (opening Aug. 5) The Villages, Florida (opening Aug. 6) North Guadalajara, Mexico (opening Aug. 7) Richland, Washington (opening Aug. 8) Allen, Texas (opening date TBA) East Newmarket, Ontario, Canada (TBA) Spring Valley, Nevada (TBA) USA TODAY has reached out to Costco for more information. Costco opened stores in March, April, June and July this year: Brentwood, California Highland, California Sharon, Massachusetts Genesee County, Michigan Prosper, Texas Weatherford, Texas Stuart, Florida Ardeer, Australia Minami Alps, Japan Pyeongtaek, South Korea Malmö, Sweden Midland, Texas USA TODAY's James Powel and Mike Snider contributed to this report. Fernando Cervantes Jr. is a trending news reporter for USA TODAY. Reach him at and follow him on X @fern_cerv_. This article originally appeared on USA TODAY: Costco opening 4 new stores in August. See list of locations.
USA Today
15-07-2025
- Business
- USA Today
Costco set to open 4 new US locations in August. Here's where.
Costco is set to open seven new locations globally in August, including four of them in the United States. The next wave of stores comes on the heels of three new openings in South Korea, Sweden, and Midland, Texas in June and July, as well as a handful of new stores that opened in the U.S. this spring. The wholesale warehouse juggernaut is a staple of American shopping and a cult hero for shoppers around the world, with millions of card-carrying members and hundreds of locations in the U.S. and abroad. Costco aims to open 25-30 new locations each year, typically with half of them in the U.S. and the other half in international markets, chief financial officer Gary Millerchip said in March. Here is where Costco is opening next month. How Costco hooks shoppers: Come for the hot dogs, stay for the gold bars Where is Costco opening stores? Costco lists seven locations with future opening dates in August on its "Coming Soon" page. USA TODAY has reached out to Costco for more information. Where has Costco opened stores recently? Costco opened stores in March, April, June and July this year: USA TODAY's James Powel and Mike Snider contributed to this report. Fernando Cervantes Jr. is a trending news reporter for USA TODAY. Reach him at and follow him on X @fern_cerv_.
Miami Herald
01-07-2025
- Business
- Miami Herald
Costco brings back controversial perk, dividing loyal shoppers
In 2023, Costco (COST) had $234.2 billion in worldwide sales, which made it the third-largest retailer in the world. Amazon and Walmart beat it with $359.9 billion, and $635.0 billion, respectively. How did Costco become such a retail behemoth? Many experts attribute Costco's success to its more affordable offering in bulk, and a variety of perks and exclusive deals its memberships bring. On top of that, Costco has a careful selection of products, as it typically stocks only about 4,000 different items across an average 140,000 square feet of floor space. Don't miss the move: Subscribe to TheStreet's free daily newsletter What's more, over the last couple of years, its popularity rose, driven by products and sales that have gone viral on social media platforms. If that isn't enough, Costco never stops innovating and answering new customers' demands. Just recently, it made a bold move to take down Amazon. The retail giant took convenience one step further for those in need of quick delivery, writes TheStreet's Colette Bennette. Costco will soon be launching its new Priority Delivery option which would allow certain items to be ordered and delivered within 30 minutes. And now it has revived a feature for executive members only that brings divided opinions. Starting Monday, June 30, Costco Executive members will be able to shop alone, and earlier than other members and customers as stores will be open at 9 a,m. only for them. Gold Star and Business Members, who spend $65 per year for some privileges must wait until 10 a.m. on weekdays and Sundays, and 9:30 on Saturday to enter and shop. Related: Costco customers reveal 7 products they'll never buy again Costco previously provided early hours for Executive members, and is now bringing back this perk. How much to be able to shop at exclusive hours? Executive membership costs about $130 per year. The revived perk, which resembles the one rival Walmart's Sam's club has been offering for a while, is limited to U.S. stores. Some Costco stores already open at 9 a.m. but now that first hour will be reserved for executive members only. Executive members account for more than 47% of Costco's pain membership, but represent 73.1% of sales globally, Costco CFO Gary Millerchip said during a third-quarter earnings call. More Retail: Huge retail chain suddenly closing hundreds of storesMajor retailer scores huge benefit from Joann bankruptcyHome Depot, Target, Ulta and more strike back at retail crime The early access option has a goal to add more value to executive members who make the majority of sales, however, some other members felt kind of discriminated against. Many customers made a comparison with Sam's Club's early hours and other offerings, saying how the rival provides even earlier shopping, starting at 8 a.m. Another customer wrote on Facebook, "I remember being like this when I was a kid. We went in super early & they even had donuts... wait never mind it was Sam's club." Related: Target makes key move to copy Schein and Temu playbook Some pointed out how Sam's Club scan and go on the phone is a way better perk. Among executive members there were those very pleased with the change, saying that this feature was one of the reasons that made them sign up for executive membership and they were hoping it would get back. Some of them feel that they deserve this kind of "incentive" as they pay more for their membership. However, not all executive members were thrilled by the news, with some saying they would prefer later closing hours, instead of early opening, and would rather that they have an option of buying gluten free pizza for example. Another customer, joked saying "Good, us peasants will get an extra hour of sleep." Despite the obvious humor in the above post, there is also some truth to it, as many customers expressed the opinion that earlier opening hours should be for all members, regardless of membership. Costco confirmed a grace period until August 31 for Gold Star and Business members to get used to the change. Related: Veteran fund manager unveils eye-popping S&P 500 forecast The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
