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Costco's gold bars earn company up to $200 million monthly, analysts saywww.usatoday.com/story/money/2024/04/09/costco-gold-bars-200-million/73266179007/
503 sats \ 6 comments \ @kr 10 Apr 2024 meta
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168 sats \ 2 replies \ @StillStackinAfterAllTheseYears 10 Apr 2024
Equity analysts said the wholesaler priced its gold appropriately by selling about 2% above spot prices to members before a 2% cash back reward for executive members and an extra 2% in cash back for those with a Citi card.
I realize not all of their customers get either or both of those discounts, but it still seems like they'd take a loss on a bunch of these sales.
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31 sats \ 0 replies \ @k00b 10 Apr 2024
The Citi card thing is probably big money for them.
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21 sats \ 0 replies \ @Bell_curve 10 Apr 2024
They probably break even.
Costco has at most 15 percent markup on its goods and services.
90 percent of their profits come from membership fees
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270 sats \ 1 reply \ @TheBTCManual 10 Apr 2024
That's pretty impressive, if this is legit retail users just buying physical gold and taking self custody, who would have thought? I hope customers don't have to do hectic KYC because it would be so easy to $5 wrench people and take their stack
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0 sats \ 0 replies \ @kr OP 10 Apr 2024
doesn’t everyone already do some level of KYC to become a CostCo member?
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128 sats \ 0 replies \ @kepford 10 Apr 2024
That's wild. I considered buying some from them and then I thought...that's crazy. Secure more sats
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