David Rosenthal: belief

Transcript context

…I don't think people realize, maybe by this point of the episode they do, but certainly not before, how big Costco is. It's a sleepy story since it's tucked away in the Seattle suburbs. They don't do a lot of chest pounding. They just are quiet. They do $230 billion in revenue. They're the third largest retailer in the US. They have 124 million members worldwide. One-third US shoppers are Costco customers. They have a little over 300,000 employees at 860 stores. We talked about this. They do $750,000-ish of revenue per employee. Yeah, that's wild. If I remember from our Walmart episode, Walmart (I think) has over 2 million employees. I believe Amazon has well over a million. Yeah, so Costco is doing somewhere between a third-and-a-half the total revenue of Walmart, but they're doing it with almost an order of magnitude fewer people. It's crazy. They have the highest revenue dollars per square foot of any wholesaler or discount store. Target's about $450 per square foot of revenue. Walmart's about $600. Costco is $1800 per square foot of revenue.…

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