Costco reveals for the first time how much money its owner makes per day

The history of Costco Wholesale begins in 1976, when under the name Price Club it opened its first store in a former airplane hangar on Morena Boulevard, San Diego. Originally, the company served small businesses, but soon found an important niche by also serving individuals without needing to be a business. This decision was key for the growth of warehouse clubs to become unstoppable, forever changing the retail sector.

First stores and accelerated growth

In 1983, the first store under the name Costco opened in Seattle. The company was a pioneer in growing from zero to 3 billion dollars in purchases in less than six years, a record in the sector. In 1993, the merger between Costco and Price Club gave rise to Price Costco, with 206 stores and 16 billion dollars in annual purchases.

Philosophy and global growth

Costco's philosophy has always been clear: keep prices low and pass those savings on to its members. Its large member base and purchasing power, along with consistent efficiency, translate into better prices for customers. Since it was renamed simply Costco in 1997, the company has grown globally, reaching sales exceeding 64 billion dollars.

Presence and offerings in the United States

Currently, Costco has more than 600 branches in the United States and over 900 globally. Membership exceeds 136 million people worldwide, with nearly 90% in the United States and Canada. The stores, known as "warehouses," offer everything from food and electronics to furniture and clothing, as well as services like pharmacies, optical centers, and gas stations, which set it apart from its competitors.

Million-dollar daily revenues

According to the 2024 annual financial report submitted to the United States Securities and Exchange Commission, Costco caused revenues worth 249.6 billion dollars. This translates to an average daily gross revenue of 683.8 million dollars. After deducting operating expenses, the net profit was 7.4 billion, which equates to 20.27 million dollars net per day.

Comparison with the competition

Although this figure is notable, it is still below the net profit of its main competitor, Walmart. Despite this, Costco has established itself as one of the most solid and profitable wholesale retailers in the U.S. market. Its model based on memberships, low prices, and a wide range of offerings has been essential to this success.

Looking to the future

Costco continues to expand its network of stores and adjust its offerings to adapt to the changing demands of consumers. The company is also investing in technologies to improve the shopping experience and optimize logistics. With a model based on member loyalty, Costco is poised to continue growing and leading the sector for many more years.