Latest news with #Sam'sClub
Axios
21 hours ago
- Business
- Axios
Costco changing hours for executive members on June 30
Costco is rolling out earlier shopping hours for executive members at U.S. warehouses — a subtle but significant shift nearly a year after raising membership fees for the first time since 2017. Why it matters: The perk is a way to add value to the membership club's top tier and potentially increase the ranks of executive members who make up a higher percentage of sales. Executive members make up more than 47% of Costco's paid memberships but represent 73.1% of sales globally, Costco CFO Gary Millerchip said on a May 29 earnings call. The big picture: The move mirrors a tactic from rival Sam's Club, which has long offered exclusive hours and extra perks to its premium-tier members. Costco previously had early hours for executive members and during the pandemic opened early some days for seniors and members with disabilities. When do Costco executive member hours start? Zoom in: Costco said in an email to members that the new executive member benefits are effective Monday, June 30. Warehouses will open at 9am daily exclusively for executive members. Another new benefit is a $10 monthly credit on same-day or Costco via Instacart orders of $150 or more. New Costco early executive shopping hours The following are Costco's new early shopping hours: Monday to Friday: 9am to 10am Saturday: 9am to 9:30am Sunday: 9am to 10am Yes, but: Locations that had been open at 9am for all members will also make a change. "Our U.S. locations that currently open at 9 am, will transition June 30th to limiting access to Executive Members only during the times outlined," Costco said in a comment on its Instagram post. Clubs will open at 10am weekdays and Sundays for all members and 9:30am on Saturdays. Costco's business centers and gas stations are not affected with the changes. Costco Saturday hours extended for all members What's next: Costco said that "U.S. warehouses will stay open one extra hour on Saturdays, closing at 7 pm for all members." Costco membership cost, executive member benefits Flashback: Costco increased membership fees for both Gold Star and Executive tiers by $5 and $10 respectively, effective Sept. 1, 2024. Gold Star and business membership fees are $65, up from $60. Executive membership fees are double the basic membership's price but members earn a 2% reward on eligible purchases. The $130 annual fee is up from $120. The special hours come after the wholesale club's membership card sharing crackdown went national with scanners at club entrances. The scanners can identify which membership level a member has.
Daily Mail
2 days ago
- Business
- Daily Mail
Costco rival plots big price hikes on hundreds of home essentials: 'Buckle up'
Sam's Club is weighing price hikes on a range of products in response to tariffs imposed by President Donald Trump. Kitchen appliances and outdoor decor are among the items that may see increases, according to chief financial officer Todd Sears. 'If we see those higher costs come in, certainly we have to take a look at all options,' Sears told the Wall Street Journal. The Costco rival, which earns 80 to 90 percent of its profits from paid memberships, is known for offering high-quality goods at low prices. Sam's Club is currently luring new members with annual fees of $20 rather than $50 and promising to freeze prices on more than 1,000 items through July 22. The chain has no immediate plans to raise food prices, but shoppers are skeptical. On Reddit, several users reported price jumps — including a $3 increase on Folgers coffee and a bump in meat prices. Walmart, parent company of Sam's Club, has also been raising prices due to tariff s. Target has also been hiking prices. While social media users claimed prices are growing, Sam's Club did not expect cost growth in food products from tariffs. A partial reason for this is that it would reduce the chain's costs by improving packaging to lengthen shelf life and using less packaging. Sam's Club also uses data and algorithms to calculate fruit demand, which are imported from countries like the US and Mexico. It has also been working to manage its inventory as a way to minimize product markdowns. Walmart frequently helps Sam's Club thrive by giving the chain access to its supply chain, which has helped the business fulfill orders and save money. With Walmart having already rose product prices last month, senior equity research analyst Steven Shemesh believes the potential price rise won't harm Sam's Club too much. 'Increasing prices is definitely a risk, but Sam's Club, being under the Walmart umbrella, has many more tools to mitigate the impact of higher costs than a lot of other retailers out there,' he said. Sam's Club usually offers pricier items than Walmart, and with the potential price rise on expensive products, it could lead to a weakening demand. 'If tariffs are hypothetically 60 percent on the barbecue grills, maybe next year you don't carry them. You just plan for less unit volume in that situation,' said Rupesh Parikh, a managing director at investment bank Oppenheimer & Co. Social media users are expecting product prices to keep rising as a result of tariffs Walmart was one of the retailers that issued a price increase warning last year. Employees leaked price changes on Reddit days after Walmart confirmed the growth, gradually turning into an avalanche of price hikes on popular products. The company was also forced to axe about 1,500 jobs even though its quarterly revenue has continued to be successful. A Costco executive warned shoppers of price hikes in December, and accusations of food court price growth swirled the internet soon afterward. Once tariffs began to do its damage on gold, the chain was forced to place limits on its popular gold bars. Costs of select products at Target and Best Buy rose by mid May after its CEOs issued their warning in March, and hikes in Adidas and Nike brands resulted in price changes at Macy's.
Globe and Mail
2 days ago
- Business
- Globe and Mail
Walmart Sees Continued Comps Gains: Will Broad-Based Strength Support?
Walmart Inc. WMT continues to prove its retail dominance with another strong record in comparable sales. For the first quarter of fiscal 2026, Walmart U.S. reported comparable sales growth of 4.5%, excluding fuel, driven by transaction improvement of 1.6% and an average ticket increase of 2.8%, as well as strong e-commerce growth. The gains were broad-based, with notable momentum in food and consumables, wherein Walmart continues to gain market share. Health and wellness also surged with high-teens growth, thanks to strong prescription volumes and over-the-counter products. Complementing the strong performance at Walmart U.S., Sam's Club U.S. posted a robust 6.7% increase in comparable sales, excluding fuel. The rise was primarily volume-driven, with strength in Member's Mark products. Walmart's ability to deliver consistent comparable sales gains stems from its balanced omnichannel strategy, featuring faster delivery speeds, which includes a 91% year-over-year rise in sub-three-hour delivery, disciplined inventory management and aggressive price rollbacks. More than 5,000 items saw price reductions in the fiscal first quarter, enhancing Walmart's value proposition across key categories. The retailer also leaned on private label strength, with grocery private brand penetration up 60 basis points compared with the last year. This performance demonstrates Walmart's agility and customer relevance amid economic and trade-related headwinds. As the company navigates tariff-related pressures, the replenishment-heavy model and deep supply-chain partnerships are helping it remain flexible, protect margins and support price leadership in a volatile cost environment. How are WMT Rivals TGT & COST Approaching Comparable Sales? While Walmart U.S. delivered comparable sales growth, two of its competitors, Target Corporation TGT and Costco Wholesale Corporation COST, offer an instructive contrast. Target is pursuing long-term growth through digital expansion, marketplace scaling and store investments. Despite a 3.8% decline in comparable sales in the first quarter of fiscal 2025, Target continues to see strength in same-day services like Drive Up and Shipt. The company is also growing the Target Plus marketplace, positioning it for future comparable sales improvements through innovation and customer convenience. Costco, by contrast, reported comparable sales growth of 5.7% in the third quarter of fiscal 2025, with U.S. comparable sales up 6.6%. Its brand name, geographical reach and curated product breadth continue to attract value-conscious shoppers. Costco's favorable product mix, steady store traffic and member-driven pricing model underpin solid comparable sales momentum. WMT's Price Performance, Valuation & Estimates Shares of Walmart have gained 9.7% in the past three months compared with the industry 's growth of 9.3%. From a valuation standpoint, WMT trades at a forward price-to-earnings ratio of 34.8X, significantly up from the industry's average of 31.97X. The Zacks Consensus Estimate for WMT's fiscal 2026 earnings implies year-over-year growth of 3.2%, whereas its fiscal 2027 earnings estimate indicates a year-over-year uptick of 11.6%. WMT currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in the coming year. While not all picks can be winners, previous recommendations have soared +112%, +171%, +209% and +232%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. Today, See These 5 Potential Home Runs >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Target Corporation (TGT): Free Stock Analysis Report Walmart Inc. (WMT): Free Stock Analysis Report Costco Wholesale Corporation (COST): Free Stock Analysis Report This article originally published on Zacks Investment Research (
Yahoo
3 days ago
- Yahoo
Florida man pees on food inside Sam's Club, faces criminal charges
A man is facing criminal charges after police said he urinated on food at a Sam's Club in Central Florida, damaging more than $10,000 worth of meat. The incident took place May 30 at a Sam's Club in Lady Lake, just over 50 miles northwest of Orlando, the Lady Lake Police Department reported. Patrick Francis Mitchell, 70, was charged with disorderly conduct and criminal mischief with damages of more than $1,000, court documents obtained by USA TODAY show. According to a probable cause affidavit obtained, a customer in the store saw a man identified by police as Mitchell urinating in Aisle 18 in the store. The customer took a photo of the man and shared it with store employees, a police officer wrote in the report. Employees reviewed the photo and store video surveillance, the affidavit continues, and watched the man walk up to two pallets of canned goods facing the shelf, placed both of his hands below the belt line and appear to urinate. Amazon delivery: Driver caught pooping and peeing on customers' property The affidavit goes on to show that after the incident, the man was in the store for an additional 10 minutes, bought items, and then left. "The defendant made no attempt to notify employees of the incident," the affidavit continues. The mess forced store employees to throw out two pallets of canned Vienna sausage and spam resulting in a loss of more than $10,500, the court documents show. It was not immediately known why the defendant did not use the restroom. Mitchell entered a not guilty plea to both charges on June 10, online Lake County felony court records show. It was not immediately known whether Mitchell had obtained an attorney. As of June 17, Mitchell was not listed as an inmate in the Lake County jail. USA TODAY has reached out to Sam's Club. Natalie Neysa Alund is a senior reporter for USA TODAY. Reach her at nalund@ and follow her on X @nataliealund. This article originally appeared on USA TODAY: Man arrested for allegedly peeing on food at Sam's Club
Indianapolis Star
3 days ago
- Indianapolis Star
Florida man pees on food inside Sam's Club, faces criminal charges
A man is facing criminal charges after police said he urinated on food at a Sam's Club in Central Florida, damaging more than $10,000 worth of meat. The incident took place May 30 at a Sam's Club in Lady Lake, just over 50 miles northwest of Orlando, the Lady Lake Police Department reported. Patrick Francis Mitchell, 70, was charged with disorderly conduct and criminal mischief with damages of more than $1,000, court documents obtained by USA TODAY show. According to a probable cause affidavit obtained, a customer in the store saw a man identified by police as Mitchell urinating in Aisle 18 in the store. The customer took a photo of the man and shared it with store employees, a police officer wrote in the report. Employees reviewed the photo and store video surveillance, the affidavit continues, and watched the man walk up to two pallets of canned goods facing the shelf, placed both of his hands below the belt line and appear to urinate. Amazon delivery: Driver caught pooping and peeing on customers' property The affidavit goes on to show that after the incident, the man was in the store for an additional 10 minutes, bought items, and then left. "The defendant made no attempt to notify employees of the incident," the affidavit continues. The mess forced store employees to throw out two pallets of canned Vienna sausage and spam resulting in a loss of more than $10,500, the court documents show. It was not immediately known why the defendant did not use the restroom. Mitchell entered a not guilty plea to both charges on June 10, online Lake County felony court records show. It was not immediately known whether Mitchell had obtained an attorney. As of June 17, Mitchell was not listed as an inmate in the Lake County jail. USA TODAY has reached out to Sam's Club.
