Costco’s food court is becoming members only. FOX Business’ Cheryl Casone with more.
Costco is one of the three largest warehouse retail companies in the United States, alongside BJ’s Wholesale Club and Sam’s Club.
All three require memberships, but Costco had previously appeared to have some leeway with membership in its food courts.
However, earlier this week, several media outlets reported that Costco could be on the verge of implementing a policy that bans non-club members from doing eating out in its dining areas.
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However, a customer service representative told FOX Business at the time that the policy is already in place, while a corporate Costco spokesperson declined to confirm the policy or say whether it would be implemented in the future.
Whether the policy will be implemented or not, here are four things to know about the wholesale retailer.
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There are locations all over around the world
According to Costco’s 2019 annual report, the company has 785 warehouses around the world, including 546 in the United States, including Puerto Rico.
Costco also has locations in Canada, Mexico, the United Kingdom, Japan, Korea, Taiwan, Australia, Spain, Iceland, France and most recently, in China.
The company had a net income of $3.66 billion in the fiscal year 2019 and 98.5 million cardholders, according to the report.
A Costco membership starts at $60 annually for Gold Star Members and goes up in price from there.
The price of Costco’s hot dog and soda deal has remained the same since 1985
One of the most well-known options in the Costco food court is its hot dog and soda combo. According to Business Insider, the menu deal hasn’t changed the price for 35 years, staying at an inexpensive $1.50 since 1985.
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Costco sells jewelry
After a search for “diamond ring” on the Costco website, 382 options show up. The most expensive option costs $419,999.
Last year Costco chief financial officer Richard Galanti mentioned the sale of a diamond ring as having boosted the company’s quarterly sales during an earnings call in May.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| COST | COSTCO WHOLESALE CORPORATION | 281.14 | -11.99 | -4.09% |
It also sells experiences
Costco has a website specifically for travel, where it sells vacation packages and offers deals on hotels, cruises and rental cars.
The company sells bulk movie tickets and vouchers for movie rentals for between $23.99 for Redbox rentals and $69.99 for a nine-month Cinemark Movie Club Membership, according to the website.
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This report contains material from previous FOX Business stories.
