Inside Note
You've probably heard the membership fee is all of Costco's profit. Not quite — and the truth is better. The whole retail operation earned about $5.06 billion last year. The fee brought in $5.32 billion. 51% of operating profit, from a $65 card with nothing to manufacture and nothing to ship. And when Costco raised that fee in September 2024, 92.3% of members renewed anyway. #costco #business #economics #membership #businessexplained
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