pull down to refresh

168 sats \ 2 replies \ @StillStackinAfterAllTheseYears 10 Apr \ on: Costco's gold bars earn company up to $200 million monthly, analysts say meta
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.
write
preview
31 sats \ 0 replies \ @k00b 10 Apr
The Citi card thing is probably big money for them.
reply
21 sats \ 0 replies \ @Bell_curve 10 Apr
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
reply