Costco offers a wide variety of low-priced items for customers, from grocery and clothing to appliances and lawn equipment.
So with millions of membership holders who frequent Costco, you might find yourself wondering how much money Costco makes every second, minute, hour, day, and month? Here is what I discovered!
Key Takeaways
How Much Does Costco Make A Second, Minute, Hour, Day, and Month In 2022?
On average, Costco makes a whopping $5,175 per second, $310,500 per minute, and $18 million per hour in store sales! Additionally, Costco makes $447 million a day in revenue and a staggering $13.6 billion per month in sales. When combined, Costco earns $163 billion per year as of 2021.
Read on for more information about how much profit Costco makes per second, minute, hour, day, month, and year!
How Much Revenue Does Costco Make In A Second?
Because Costco earned 163.2 billion U.S. dollars in profit per fiscal year, some simple calculations will reveal how much money Costco makes per second, which is a staggering $5,175 every second!
How Much Money Does Costco Make In A Minute?
Based on our previous calculations, we can see that Costco brings in over $310,500 in profits per minute, based on all the revenue from their 809 warehouse locations and customer numbers.
How Much Does Costco Make Per Hour?
Costco’s hourly revenue earnings total exactly $18,630,136.99—an absolutely mind-boggling number.
In comparison, W. Craig Jelinek, the President and CEO of Costco Wholesale Corporation, only makes just under $8 million a year in total compensation profits. So, that means the CEO is making 0.0048% less an hour than his entire company is!
How Much Income Does Costco Make In A Day?
Costco stores around the world amass a profit of just over $447 million every single day.
This also means that Costco associates will welcome around 3 million shoppers into the store on a daily basis, providing the company with such an amount of profits.
How Much Profit Does Costco Make In A Month?
Based on the yearly revenue figures, we can posit that Costco earns around $13.6 billion U.S. dollars per month.
This is accumulated by their locations across America, Canada, Mexico, the United Kingdom, Europe, Australia, and many more countries.
How Much Money Does Costco Make In A Year?
As already mentioned, Costco made a full total of $163.2 billion in revenue at the end of their 2020 fiscal year. This was a 6.9% increase in profits from 2019, where Costco earned $152.703 billion instead.
How Much Revenue Do Individual Costco Warehouse Locations Make?
Costco’s warehouse stores are undoubtedly huge businesses in and of themselves—Costco is the only national retailer in American market history that boasts an average yearly revenue above $160 million in U.S. dollars per location.
And while each store location has different numbers of customers and sales, individual Costco warehouses tend to do very well for profits.
For instance, 165 Costco locations generated yearly sales in excess of $200 million U.S. dollars for 2020. And of these 165 locations, 60 warehouses recorded sales of over $250 million annually, and 2 made over $400 million.
So, while the warehouses do contribute to Costco’s total profit, it varies greatly by location.
How Much Does Costco Make From Membership Sales?
While warehouse good sales all go toward the sum profit of the company, Costco relies on membership sales for part of their earnings.
Revenue generated through membership fees typically makes up a decent percentage of total revenue. For the 2020 fiscal year, Costco generated around $881 million.
Because Costco has such a wide membership, with 108.3 million cardholders around the world, the company makes a guaranteed annual profit from selling these yearly memberships to returning customers and new, from between $60 and $120.
How Much Does Costco Make From Online Sales?
According to Costco CFO Richard Galanti, online grocery sales grew by several hundred percent in recent years.
In the fourth quarter of the 2020 fiscal year, revenue for Costco’s online shopping rose by 12.4%. E-commerce only accounted for about 5% of Costco’s overall business earnings in previous years, but that figure has since doubled to over 10% of overall earnings, after a staggering 91% growth in online sales in the past year.
Does Costco Make More Than Its Main Competitors?
Costco makes around $163.2 billion annually, whereas their primary competitor Walmart made $534 billion in profit last year—meaning that Costco only makes about 30.5% of Walmart’s yearly earnings.
However, in comparing Costco’s profits to those of Walmart, Target, Home Depot, and BJ’s Wholesale Club, the numbers are more promising for Costco.
In the past year, Walgreens amassed $137 billion; Target accumulated $78.11 billion; Home Depot brought in $11.2 billion; BJ’s Wholesale Club only made just over $15 million.
So, Costco Wholesale Corporation can hold its own against competition in terms of profits.
And in order to keep up with the competition, Costco keeps expanding its wholesale empire—adding new warehouse locations and more varied stock, opening 10 new locations in the last year alone.
Costco remains the second-largest retailer in America, coming in behind Walmart.
To see how much other companies make, you can see our other posts on how much Walmart makes per second!
Additionally, if you are looking to learn more about Costco, be sure to see our guides on Costco’s competitive advantages, why Costco is so cheap, and some revealing Costco statistics.
Conclusion:
As one of the giants in the industry, Costco is a billion-dollar company. With 809 warehouse locations internationally, the Costco Wholesale Corporation was able to bring in over $163.2 billion U.S. dollars in the past fiscal year alone—working out to a staggering $18,630,136.99 every single hour! And the company continues to grow, guaranteeing more locations and stock for customers.