Latest news with #Vachris
New York Post
01-07-2025
- Business
- New York Post
Costco quietly unveils a major perk that has shoppers racing to upgrade memberships
Costco officially rolled out new shopping hours for its U.S. executive members on Monday. The new hours enable Costco executive members to squeeze in some morning shopping before the company's U.S. warehouses let in people with Gold Star or business memberships. Advertisement Under the newly implemented 'Executive Member Shopping Hours,' those that belong to the $130-per-year membership get exclusive access to Costco and its array of goods from 9 to 10 a.m. on weekdays and Sundays and from 9 to 9:30 a.m. on Saturdays, per the warehouse retailer's website. The warehouses will open their doors to other members at their usual start times, 10 a.m. on weekdays and Sundays, and 9:30 a.m. on Saturdays. The company first revealed plans to introduce extra shopping time for executive members earlier in the month via social media. It also emailed executive members about the new benefit. 4 Costco officially rolled out new shopping hours for its U.S. executive members on Monday. AP Advertisement Costco's food courts, optical centers, pharmacies, and other 'ancillary departments will participate' in the 'executive member shopping hours,' though its pharmacies will remain closed on Sundays, according to a Facebook post. The company had 37.6 million paid executive memberships at the end of the third quarter. The 'executive member shopping hours' aren't the only hours-related operational move the popular warehouse retailer has undertaken in recent months. 4 Under the newly implemented 'Executive Member Shopping Hours,' those that belong to the $130-per-year membership get exclusive access to Costco and its array of goods, according to the website. dennizn – Advertisement Costco lengthened the hours that customers can use its North American gas stations to fill up their vehicles earlier this year. Costco Wholesale 'The combination of expanded gas station hours, new gas station openings, and lower prices at the pump have led us to having two of our all-time highest gallon weeks in the U.S. during the last month,' CEO Ron Vachris said in May. He also said the company continues to pursue various ways to 'improve the member experience' at the retailer's website, telling analysts and investors to 'be on the lookout for several new technology pilots we are focusing on to help our members check out through our front end at a faster pace.' 4 The warehouses will open their doors to other members at their usual start times, 10 a.m. on weekdays and Sundays, and 9:30 a.m. on Saturdays. Getty Images Advertisement 4 The company only allows members and people with Costco Shop Cards to shop at its often-bustling warehouses. UCG/Universal Images Group via Getty Images Costco recently 'engaged in some 'Scan & Go done by Costco' kind of tests' at some warehouses, according to Vachris. The company only allows members and people with Costco Shop Cards to shop at its often-bustling warehouses. Over the first three quarters of the year, Costco has generated nearly $3.6 billion in revenue from membership fees. They brought the company a total of $4.8 billion in revenue last year.
Hindustan Times
13-06-2025
- Business
- Hindustan Times
Costco executive members to get early shopping privileges from June 30: See all the benefits
Costco executive-level members will be privy to a new range of privileges, as introduced by the company via a mail sent to all its members on June 11. Starting June 30, people who have purchased the $130-a-year executive-level membership for Costco will be privy to a range of new benefits. Costco stores will now open an hour prior to regular timings for executive members. The new timings will allow 9 AM to 10 AM access from Monday through Friday, 9 AM to 9:30 AM on Saturdays, and 9 AM to 10 AM on Sundays. This perk had existed previously as well but was phased out in recent years. Additionally, the warehouse will shut down an hour later (by 7 PM) on Saturday for executive members. Also Read: Anker power bank recall: Here's how to get a free replacement or gift card Executive members will now receive a $10 monthly credit for orders worth $150 placed through Instacart or 'Same Day' services. Up until now, executive members used to receive a 2% reward on purchases and discounts on other services. The benefits stringed with the $65 Gold Star membership including warehouse access, Costco fuel access, and a free household card are also included with the executive membership. "Our Executive Members are our most loyal members, and we want to reward them for their commitment to Costco," the email said. According to the company's total sales, executive members currently contribute to about 73% of the company's sales. The new change comes days after CEO Ron Vachris said the customer response to the gas station changes has been positive. 'The combination of expanded gas station hours, new gas station openings and lower prices at the pump have led us to having two of our all-time highest gallon weeks in the U.S. during the last month,' Vachris said on the company's May 29 earnings call.
CNBC
12-06-2025
- Business
- CNBC
Costco's $130 Executive Membership just got a brand new perk
Costco's biggest spenders will soon be getting more bang for their buck. Three months after the retailer extended hours at its North American gas stations, Costco has announced that shoppers who pay for its $130 Executive Membership will be able to enjoy early access to its warehouses. Stores will now be open to Executive Members beginning at 9 a.m., giving them an extra hour in the store before Gold Star members are let in. The new change was announced a little over a week after CEO Ron Vachris said on the company's May 29 earnings call that customer response to the gas station changes has been exceedingly positive. "The combination of expanded gas station hours, new gas station openings and lower prices at the pump have led us to having two of our all-time highest gallon weeks in the U.S. during the last month," Vachris said. Executive Members make up 73% of Costco's sales despite representing only 37.6 million of the company's 79.6 million memberships, according to Costco data. The cheaper Gold Star membership costs $65 per year. Costco raised the price of its Executive and Gold Star memberships last year. The main selling point of the Executive Membership is the 2% cash back reward given on every dollar spent at Costco. If you're a Gold Star member thinking about upgrading, you'd need to spend at least $3,250 per year for the membership to start to be worthwhile. Anything below that, and you'll end up spending more money overall with the higher annual fee. The Executive membership also offers additional savings on Costco services like their bottled water delivery and pet insurance. If you buy your home or auto insurance through Costco, the Executive membership will get you some exclusive benefits such as roadside and lockout assistance. If you're on the cusp of a $3,250 annual spend but also use those services, it might make the membership worthwhile. Costco promises to refund the difference in cost between a Gold Star membership and an Executive membership in your first year if you aren't satisfied.
CNBC
11-06-2025
- Business
- CNBC
Costco is exploring options to make membership more valuable, CEO says
Costco shoppers may soon be getting more bang for their buck. Three months after the retailer extended hours at its North American gas stations, CEO Ron Vachris has said the wholesale club is reviewing the possibility of keeping its stores open longer as well. Vachris said on the company's May 29 earnings call that customer response to the gas station changes has been exceedingly positive. "The combination of expanded gas station hours, new gas station openings and lower prices at the pump have led us to having two of our all-time highest gallon weeks in the U.S. during the last month," Vachris said. As a result, the chain is looking into giving customers the opportunity to spend more time and money inside its stores. "We continue to look at the operations side of things as well," he said. "The warehouse hours." Business Insider reported this week that beginning at the end of the month, Costco will begin allowing members who pay for its $130 Executive Membership into stores an hour earlier than regular $65 Gold Star members. "Our Executive Members are our most loyal members, and we want to reward them for their commitment to Costco," an internal email cited by Business Insider reads. Indeed, Executive Members make up 73% of Costco's sales despite representing only 37.6 million of the company's 79.6 million memberships, according to Costco data. Costco did not respond when reached for comment by CNBC Make It. The main selling point of the Executive Membership is the 2% cash back reward given on every dollar spent at Costco. If you're a Gold Star member thinking about upgrading, you'd need to spend at least $3,250 per year for the membership to start to be worthwhile. Anything below that, and you'll end up spending more money overall with the higher annual fee. The Executive membership also offers additional savings on Costco services like their bottled water delivery and pet insurance. If you buy your home or auto insurance through Costco, the Executive membership will get you some exclusive benefits such as roadside and lockout assistance. If you're on the cusp of a $3,250 annual spend but also use those services, it might make the membership worthwhile. Costco promises to refund the difference in cost between a Gold Star membership and an Executive membership in your first year if you aren't satisfied.
Yahoo
09-06-2025
- Business
- Yahoo
Why Costco's Kirkland Signature Bacon, Egg, And Cheese Sandwiches Almost Didn't Happen
Costco's Kirkland Signature brand has hundreds of items that people regularly rely on, from clothing to cleaning products to frozen foods. The brand itself (which is the only private brand at Costco) brought in over $85 billion in sales last year for Costco, per The Wall Street Journal, which means we're not the only ones who love the Kirkland Signature organic pure maple syrup or the Kirkland Signature organic coconut water. Meanwhile, one of Kirkland's most iconic items -- the bacon, egg, and cheese breakfast sandwich -- almost didn't happen, and you can blame Costco's CEO. Perhaps we should say "thank" the CEO, since he did eventually approve the breakfast item, but not before putting up a fight. In an interview with the Wall Street Journal, Costco CEO Ron Vachris revealed that when his team approached him about the Kirkland Signature Breakfast Sandwich, he told them no. He appreciated the idea but wanted to ensure that the Kirkland Signature item would "exceed" the national brand for breakfast sandwiches already performing so well in the market. Vachris recognized that the highest value item in the sandwich was the protein (the bacon), so he asked the buyer to partner with the supplier to improve the quality. The buyer ended up adding 40% more protein (more bacon) to the breakfast sandwich while still maintaining the item's original price point. Vachris was happy with the changes and officially approved the item for the market. Read more: 7 Costco Kirkland Brand Frozen Meals, Ranked Worst To Best Customers have made it clear just how much they enjoy the Kirkland Signature bacon, egg, and cheese breakfast sandwiches, touting on Reddit how they are "really good and priced very well." There's apparently even a correct way to cook Costco's Kirkland Signature Breakfast Sandwiches. People also say that the spiral butter croissant stuffed with applewood smoked bacon, cage-free eggs, and gooey cheese is comparable to the Starbucks breakfast sandwich, with one customer on Reddit calling it a perfect "dupe." The sandwiches come in a pack of eight for about $15.99, making them cheaper per sandwich than the coffee giant's similar breakfast favorite, its Double-Smoked Bacon, Cheddar & Egg Sandwich, which goes for $5.75. In the grand scheme of Kirkland Signature production, CEO Ron Vachris is the final voice when it comes to approving or denying new items. Everything that the Kirkland Signature team comes up with hits his desk before it goes into production, and by now, we know that he's not afraid to stamp items with a big red "nope" if he doesn't think it meets Costco-level quality. That picky mentality has led to billions of dollars of success for the Kirkland Signature brand, making it a name that customers trust for high-quality products at a lower price point than rival big-name brands. Read the original article on Tasting Table.
