Gerald Storch, CEO of Storch Advisors and former Toys”R”Us and Target executive, reacts to a strong November retail report and explains how the industry’s winners are “value-based” players.
Eighteen thousand Costco Teamsters are preparing to strike if a “fair contract offer” is not presented by the end of the month.
Eighty-five percent of Costco Teamsters in the United States voted to authorize the strike, according to a press release issued Sunday. Tensions increased throughout the week, as the Teamsters posted several Costco-related posts on their social media.
“From day one, we told Costco that our members would not work a day past January 31 without a historic, industry-leading agreement,” said Teamsters General President Sean M. O’Brien. , in a press release.
“Costco’s greedy executives have less than two weeks to make the right decision. If they refuse, they will have no one to blame but themselves when our members go on strike,” Mr. O’Brien.
COSTCO COLD REMEDY RECALLED DUE TO POSSIBLE “CONTAMINATION”
Costco employee helping monitor customers at self-checkout kiosks at a Florida store. (Lindsey Nicholson/UCG/Universal Images Group / Getty Images)
The Teamsters said on X that “the final week of negotiations begins January 20.”
Practice pickets were held in California, Washington, and Long Island “in preparation for a possible strike.”
Hundreds in San Diego are preparing to mobilize a large training picket by Thursday, the Teamsters said.
COSTCO ISSUES RECALL NOTICES FOR FROZEN WAFFLES AND FREEZE DRIED MEAT DUE TO LISTERIA CONCERNS
Customers lined up at checkout lines at a busy Costco store in Queens, New York. (Lindsey Nicholson/UCG/Universal Images Group / Getty Images)
| Teleprinter | Security | Last | Change | Change % |
|---|---|---|---|---|
| COST | COSTCO GROSS CORP. | 943.19 | +23.44 | +2.55% |
Costco’s first location opened in 1976 as the Price Club “in a converted airplane hangar on Morena Boulevard in San Diego.” says the retail giant’s website. Today, Warehouse Club “is a multi-billion dollar global retailer with warehouse club operations in eight countries.”
Costco’s website also states that the company “is often known for being much more employee-focused than other Fortune 500 companies. By offering fair wages and top-notch benefits, the company has created a culture company that attracts positive, energetic and talented employees. “.
In an aerial view, the Costco logo is displayed outside a Costco store on July 11, 2024 in Richmond, California. (Justin Sullivan/Getty Images/Getty Images)
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Costco did not immediately respond to a request for comment from FOX Business.
“We are the backbone of Costco,” Bryan Fields, a Costco employee in Baltimore and member of Teamsters Local 570, said in a statement. “We are the source of its success and generate its profits. We hope the company will step up and do the right thing for us, but if they don’t, it’s their fault. The company will hit itself.”
