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☆ Costo's quirky culture means the finance chief won't get his own parking spot
▼ + stars: | 2024-04-25 | by ( Alexandra Bacon | ) www.businessinsider.com time to read: +3 min

Costco's new CFO won't inherit his predecessor's parking spot, as he hasn't served enough time there yet. Some employees have stayed at the company for over 30 years, and several execs started out working on the shop floor. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementCostco's CFO, Robert Galanti, retired in March after 40 years at the company, but the new CFO won't be so quick to fill in his parking spot. Reserved parking spaces at Costco are based on tenure rather than seniority, The Wall Street Journal reported.

Persons: hasn't, —, Robert Galanti, Gary Millerchip, Galanti, Ron Vachris, Todd Thull, John Conlon, he's, Craig Jelinek, " Jelinek, didn't Organizations: Costco, Service, Street Journal, Business Locations: Costco, Issaquah , Washington

☆ Jim Cramer sees Ford and Costco nearing buy levels. Here's the story behind each
▼ + stars: | 2024-04-03 | by ( Paulina Likos | ) www.cnbc.com time to read: +6 min

Ford and Costco are approaching good levels to pick up additional shares, according to Jim Cramer. "Costco shares have given back some recent gains but business is strong," said Jeff Marks, the Club's director of portfolio analysis. Ford fundamentals Shares of Club name Ford rose 2.8% to $13.65 each Wednesday after vehicle sales in the first quarter grew 6.8%. "These numbers do not show the profitability of Ford," Jim said Wednesday, suggesting investors should value the company at higher levels. Ford shares need to catch up to crosstown rival General Motors , he argued.

Persons: Jim Cramer, Jeff Marks, Jim, Gordon Haskett, I'm, Craig Jelinek, Rich Galanti, Ron Vachris, Gary Millerchip, Jim Cramer's, Charly Triballeau Organizations: Ford, Costco, University of Michigan, Motors, GM, Wall, CNBC, AFP, Getty Locations: Inwood , New York

☆ Costco CFO says China has huge potential as he gives us a peek at international expansion plans
▼ + stars: | 2024-01-30 | by ( Paulina Likos | ) www.cnbc.com time to read: +8 min

The world's second-largest economy has "very good potential" for Costco expansion, CFO Rich Galanti told CNBC. In an interview with Galanti, the warehouse club's numbers cruncher gave CNBC a glimpse at Costco's longer-term expansion plans. Costco plans to open one more China location this calendar year after the debut earlier this month of the store in the southern Chinese city of Shenzhen. Costco's international segment "continues to grow as a percent of the store base," he told CNBC. Shoppers queue in the parking lot to enter the Costco Wholesale Corp. store in Shenzhen, China, on Sunday, Jan. 14, 2024.

Persons: Rich Galanti, Galanti, Craig Jelinek, Jim Cramer, We've, Jelinek didn't, Ron Vachris, signups, Phillip Blee, William Blair, Blee, cardholders, Corey Tarlowe, Tarlowe, Michael Baker, Davidson, Kirkland, bode, Jim Cramer's, Jim, Qilal Shen Organizations: Costco, CNBC, cruncher, Disney, Jefferies, D.A, Kirkland, Tarlowe, Shoppers, Costco Wholesale Corp, Bloomberg, Getty Locations: Shenzhen, China, Canada, North America, United States, Mexico, South America, Shanghai, U.S, —

☆ One Costco employee at each new store can win $500 in cash if they correctly guess first-day sales
▼ + stars: | 2023-12-01 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

In a company tradition, employees at opening warehouses guess their location's first day sales. AdvertisementNovember was a busy month for Costco, with 10 new locations opening up during the month, and seven of those within a ten-day span. A year later I am on the marketing training team and part of my job is traveling to new warehouse openings. This is my first official new warehouse opening and I am so excited to be part of this opening in Newark, California. I love new warehouse openings because there are items that we do not carry all the time, and some warehouse traditions as well.

Persons: —, you've, Maggie Perkins, Perkins, Maggie Perkins 🍉, dentities, ure, ince, ostco, ike, alf o Organizations: Service, Costco Locations: Newark , California, rize

☆ How Costco's next CEO, Ron Vachris, went from driving the retailer's forklifts to earning millions in the C-suite
▼ + stars: | 2023-10-20 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

Costco president and COO Ron Vachris will take over as CEO from Craig Jelinek on January 1. The 40-year employee started as a forklift driver at Costco's predecessor, Price Club. AdvertisementAdvertisementWhen Ron Vachris steps into his new role as CEO for wholesale club Costco, he will have worn more hats for the company than probably anyone alive. "If Vachris is appointed CEO, he would be the third CEO in Costco's history." When Price Club and Costco merged in 1993 (Costco co-founder Jim Sinegal was a protégé of Price), Vachris was tasked with overseeing the company's expansion back in Arizona.

Persons: Ron Vachris, Craig Jelinek, —, Vachris, Morgan Stanley, Simeon Gutman, Jelinek, Sol Price, Jim Sinegal, — Jelinek, Doug McMillon, Brian Cornell Organizations: Costco, Price, Service, Company, Price Club, SEC, Walmart Locations: Arizona, Colorado, Price

☆ Costco CEO Craig Jelinek stepping down after more than a decade in the role
▼ + stars: | 2023-10-19 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

Costco CEO Craig Jelinek will step down from the role at the end of this year, the company said. The incoming CEO, Ron Vachris, has worked with Costco for over 40 years, starting as a forklift driver. The transition caps off a decade in the role for Jelinek, who took over from co-founder Jim Sinegal in 2012. Prior to becoming CEO, Jelinek was one of Costco's earliest leadership hires, serving in roles ranging from director of regional operations to vice president of merchandising. AdvertisementAdvertisementJelinek and Vachris worked "hand in hand" for nearly two years to ensure a smooth transition, the company said.

Persons: Craig Jelinek, Jelinek, Jim Sinegal, Ron Vachris, —, Vachris Organizations: Costco, Service, Company

☆ What the return of China's high rollers to Macao means for Wynn Resorts
▼ + stars: | 2023-10-19 | by ( Jeff Marks | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a Morning Meeting livestream at 10:20 a.m. In gambling hub Macao, China — where Club holding Wynn Resorts (WYNN) also operates — LVS' EBITDA was up $90 million sequentially, with improved margins. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Jerome Powell, EBITDA, Craig Jelinek, Ron Vachris, Varchis, Jelinek, Jim Cramer's, Jim Organizations: CNBC, Nasdaq, Investors, Federal, West Texas, Wynn Resorts, WYNN, Wynn, Club, Costco Wholesale, Costco – Locations: Macao, China

☆ The top 10 things to watch in the stock market Thursday
▼ + stars: | 2023-10-19 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jerome Powell's, Goldman, Morgan Stanley's Adam Jonas, we've, Morgan Stanley, Crag Jelinek, Ron Vachris, Oppenheimer, Says, downgrades, Jim Cramer's, Jim Cramer, Jim, Mike Blake Organizations: Treasury, Netflix, Vegas, Wynn Resorts, WYNN, Disney, Entertainment, Sports, ESPN, Bloomberg, Devon Energy, Costco, Jefferies, Deutsche Bank, Starbucks, Jim Cramer's Charitable, CNBC, Reuters Locations: Macao, Singapore, Los Angeles , California

☆ Premarket stocks: How billion-dollar fines are reshaping digital communications in banking
▼ + stars: | 2023-10-19 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

A version of this story first appeared in CNN Business’ Before the Bell newsletter. HSBC is blocking staff from texting on their work phones, a person familiar with the matter confirmed to CNN. What’s happening: Banks must follow strict compliance rules for how they use and store their employees’ texts and other business communications. “Banks use a wide range of approved channels to communicate in compliance with regulatory obligations,” a company spokesperson told CNN. Tesla reported adjusted earnings of $2.3 billion in the quarter, or 66 cents a share, down 37% from a year earlier and the smallest profits it reported in two years.

Persons: Banks, ”, ” Sanjay Wadhwa, Tesla, Chris Isidore, Refinitiv, Dan Ives, “ Price, Elon Musk, “, ’, Craig Jelinek, Ron Vachris, Jelinek Organizations: CNN Business, Bell, New York CNN, HSBC, CNN, Bloomberg, Securities and Exchange Commission, SEC, Commodity Futures Trading Commission, “ HSBC, Carlyle Group, Blackstone, Bank of America, Citigroup, Wedbush Securities, Costco, Sam’s Club, Walmart Locations: New York, London, Wells Fargo, WhatsApp, United States

☆ Costco taps operation chief Vachris as next CEO
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: 1 min

Companies Costco Wholesale Corp FollowOct 18 (Reuters) - Costco Wholesale (COST.O) said on Wednesday CEO Craig Jelinek would step down from his role by the end of the year and would be succeeded by operations head Ron Vachris. The membership-only retailer said company veteran Vachris, who has been with the firm for over 40 years, will take on the role from Jan. 1. Reporting by Aishwarya Venugopal in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

Persons: Craig Jelinek, Ron Vachris, Vachris, Aishwarya Venugopal, Devika Organizations: Costco Wholesale, Thomson Locations: Bengaluru

☆ Costco Picks Longtime Insider to Succeed Longtime CEO
▼ + stars: | 2023-10-18 | by ( Ben Glickman | ) www.wsj.com time to read: 1 min

The wholesale retailer said current CEO Craig Jelinek, who has served in the role since 2012, would step down. Photo: Bing Guan/Bloomberg NewsCostco Wholesale said longtime Chief Executive Craig Jelinek will step down after the holidays and hand over the role to his top deputy, who has also spent decades working at the warehouse retailing giant. Ron Vachris, 58, the company’s president and chief operating officer, will take over in January, becoming just the second person to hold the Costco CEO job since the company’s co-founders.

Persons: Craig Jelinek, Bing Guan, Ron Vachris Organizations: Bloomberg, Costco Wholesale, Costco

☆ Costco CEO Craig Jelinek to step down Jan. 1; COO Ron Vachris will take over
▼ + stars: | 2023-10-18 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +1 min

A Costco Wholesale warehouse sign is seen outside of a store in Silver Spring, Maryland, on August 5, 2023Costco 's longtime CEO Craig Jelinek is stepping down from the company, after the warehouse club's spree of pandemic- and inflation-fueled growth. The company said Wednesday that Ron Vachris, the company's chief operating officer, will succeed him. In a news release, Costco said the two executives have worked together over nearly the past two years. So far this year, the company's stock has shot up by 26% — outperforming both the gains of the S&P 500 and most other publicly traded retailers. Jelinek has been at the helm of the warehouse club since January 2012.

Persons: Craig Jelinek, Ron Vachris, Jelinek Organizations: Costco Wholesale, Costco Locations: Spring , Maryland

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