Although it's the third-largest retailer in the world, most of its profit comes from membership fees.
The recent news shows how wholesale clubs like Costco have more in common with Netflix than Walmart.
Although Costco is the third-largest retailer in the world, its reliance on membership fees means it's in some ways more like Netflix than Walmart.
Other operating costs, like payroll and utilities, mean the company retained less than $3.5 billion from its top-line sales last year.
High costs have led Costco, Netflix to crack downFor years now, both Costco and Netflix have been content to look the other way as paying members shared passwords and ID cards in violation of their respective policies.
Persons:
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Organizations:
Costco, Netflix, Walmart, Service, Sam's