Latest news with #JimSinegal
Yahoo
6 days ago
- Business
- Yahoo
Costco's New Food Court Combo Sparks Uncertainty Among Fans
To keep fans of Costco's beloved food court happy, a few sacred things must happen: the $1.50 Hot Dog combo stays $1.50 forever, churros make a triumphant return, and—most importantly—the pizza combo comes back too. They're simple creatures, but mess with the formula and you'll never hear the end of it. Any time a new item hits Costco's food court, fans waste no time measuring it against the menu's greatest hits. And with a new item debuting right now in select regions, fans can't help but think the popular bulk retailer is poking at the still-tender spot left by the pizza combo's disappearance. 😋😋🍳🍔 In a post shared to Instagram by @costcobuys, fans online just got a first look at the food court's new Combo Calzone, a $6.99 value that some are saying is just 'way too expensive.' 'NEW COMBO CALZONE AT COSTCO!', @costcobuys captioned their post, 'it's definitely giving combo pizza vibes,' they continued, 'Best of all, it's DELICIOUS!'Packed with pepperoni, sausage, cheese, onions, peppers, olives and mushrooms, this calzone certainly bears a shocking resemblance to the supreme pizza, begging the question, 'are they playing with us?' 'Looks good, but Costco food courts sets my mind to lower prices,' one fan wrote. 'For that price, I can get a chicken bake, hot dog combo and a slice of pizza.' And that sounds like a meal fit for a king, if you ask us. 'I was thinking the same thing," another added, 'at that price you're just $3 shy of a whole Costco obviously means well by constantly adding new additions to the food court menu, fans are constantly left wondering if their cries are falling on deaf ears. We do know that the $1.50 Hot Dog combo has long been a point of contention with some higher ups. When former CEO Craig Jelinek suggested raising the price due to financial losses, co-founder Jim Sinegal famously said, "If you raise the effing hot dog, I will kill you. Figure it out." On that note, fans can't help but wish the same passion was reserved for the pizza combo. Until then, we're left with near-misses—menu items that only barely scratch the itch left by another fallen New Food Court Combo Sparks Uncertainty Among Fans first appeared on Parade on May 22, 2025
Yahoo
23-05-2025
- Business
- Yahoo
'Nobody Is Holding A Gun To My Head' Says 89-Year-Old Costco Co-Founder Who Still Goes To Work Because He Loves It
Costco co-founder Jim Sinegal still visits the company's Issaquah, Washington, headquarters every Tuesday just because he enjoys it. 'Nobody is holding a gun to my head,' Sinegal said during a 2016 speech at Loyola Marymount University, highlighting his voluntary commitment to the company he helped build. Sinegal may have stepped down as CEO in 2012, but he's far from done. And he's not alone. A growing number of older Americans are rethinking retirement, blending passion with purpose well past traditional working years. Don't Miss: Hasbro, MGM, and Skechers trust this AI marketing firm — Deloitte's fastest-growing software company partners with Amazon, Walmart & Target – In an interview with The Wall Street Journal last month, Sinegal said his drive comes from his early mentor, Sol Price, the retail visionary behind FedMart. Sinegal started bagging groceries at 18 and went on to co-found Costco with Jeff Brotman in 1983. More than 40 years later, he's still walking the aisles—and loving it. "I think to be successful, you've got to be pretty focused," he said. His personal rule of thumb? "Worry about your livelihood, your health, and your family. Anything else is a bonus." Costco is keeping up the momentum. For its Q2 2025, which ended on Feb. 16, the company reported $62.53 billion in net sales, a 6% increase compared to the same period last year. CFO Gary Millerchip said on an earnings call that Costco's U.S. and Canada membership renewal rate stood at 93%, with a global rate of 90.5%. He highlighted significant growth in digital initiatives, noting that e-commerce sales saw double-digit increases in categories like home furnishings and sporting goods. Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Costco isn't the only place where seniors are clocking in. According to the U.S. Bureau of Labor Statistics, the labor-force participation rate for Americans ages 65 and older reached 19% in April. Among those 75 and older, it's now over 8%, the highest ever recorded. That trend isn't just economic. Retirees were more likely to show signs of depression than those who continued working, even part-time, according to a long-term study cited by The Times of London. The research, as reported by The Times, tracked 27,500 Americans over the age of 50 for an average of 14 years. Those who had retired reported more frequent feelings of sadness and a sense that "everything is an effort," suggesting that continued engagement in work may help support mental to MarketWatch, retired Harvard Business School professor Teresa Amabile spent a decade studying how people transition into retirement. In her book, "Retiring: Creating a Life That Works for You," she outlines four key stages: deciding when to retire, detaching from work, exploring new roles, and forming a fulfilling new routine. Skipping these steps can leave retirees feeling adrift. Amabile emphasizes that retirement isn't just about finances—it's about finding purpose through meaningful activities like mentoring, volunteering, or staying engaged, much like Costco's Sinegal. Read Next: Maximize saving for your retirement and cut down on taxes: . 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. Image: Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article 'Nobody Is Holding A Gun To My Head' Says 89-Year-Old Costco Co-Founder Who Still Goes To Work Because He Loves It originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
News.com.au
09-05-2025
- Business
- News.com.au
Psychology of Costco drives Aussie store expansion
'Treasure-hunting' Australians have allowed multinational, membership-only warehouse retailer Costco to expand to a 15th property, pushing its Aussie real estate footprint to a staggering 210,000+ square metres across multiple states. Costco's newest and largest store is in Ardeer, Melbourne and the company plans to add five more locations by 2030, with particular interest in urban development zones around Sydney, Geelong, and Wollongong. When Costco first launched in Docklands, Melbourne, in 2009, the American model of bulk buying and paid membership was met with uncertainty. But it paid off — that store quickly became one of the top five performers globally. The Treasure Hunt In an interview with The Motley Fool, Costco co-founder and former CEO Jim Sinegal described Costco's business model as a 'treasure hunt.' It trades on the excitement of the hunt and the anticipation of the reward. The journey begins the moment you flash your membership card at the entrance of the cavernous warehouse, where you're greeted by luxury items like 98-inch Samsung TVs, Versace watches, even six-figure diamond rings – all presented at remarkable value. These high-end attention-grabbing items aren't necessarily there to fly off the shelf, rather, they imply that since TVs are affordable, then the baked beans and biscuits must be a steal. Vast layout The bare-bones layout sets the stage for this bargain-hunting expedition. Each warehouse spans around four acres and is deliberately stripped back to concrete floors, industrial lighting, and floor-to-ceiling steel shelving. There's no music, no signage, no store map. Deliveries go straight from the truck to the shelf, shrink-wrapped and untouched. There's no backroom, no elaborate displays, just volume and value. This stark, utilitarian set up keeps operating costs low and helps create a sense of abundance. Shoppers navigate aisles searching for essentials — and inevitably discover things they didn't know they needed. Even the extra-wide aisles, designed for forklifts, slow the pace and subtly encourage browsing. It may look chaotic, but it's actually a carefully engineered retail experience. Creating urgency Costco's Australian warehouses stock around 4000 products — a relatively small selection compared to major supermarkets — but in large volume. Of that, 25 per cent is rotated constantly. One week, it's a $24.99 Nautica jumper; the next, it might be a $29.99 Tommy Hilfiger shirt. According to Sinegal, this rotation creates a sense of urgency: 'Those are the types of things that continue to bring customers in shopping with us. We try to create an attitude in those kinds of products that if you see it, you'd better buy it, because chances are it's not going to be there next time.' Taste test tease Brave the weekend crowds and you'll be rewarded with a veritable three-course meal of food samples. According to behavioural economist Melina Palmer, the psychology behind a taste test is powerful: 'You get a tiny taste of something you want more of, and boom — something you'd never pick off the shelf suddenly becomes a favourite.' And it works. Sampling typically leads to a 76 per cent boost in sales, according to internal figures. In one case, Costco's frozen pizza reportedly saw a 600 per cent spike following in-store trials. A Culture of Discovery Costco's expansion isn't just about low prices and bulk goods — it's built on a distinct culture of discovery. Across the globe, members swap stories of their best finds — or most absurd purchases. It's not just retail. It's 'Costcology' and it's driving urban expansion. What many assumed would be a barrier to entry — the $65 annual membership fee — turned out to be anything but. 'Australians didn't baulk at the model,' wrote Stella Minahan of Deakin Graduate School of Business, noting that most shoppers recouped the cost in their very first visit. And it's not hard to see how. Costco has developed a cult following for its food court's iconic hot dog and bottomless soda combo at just $1.99 — a price Sinegal famously vowed would never change from its 1985 debut. Add in an extra-large pizza ($15.99) and a rotisserie chicken ($6.99) for dinner, and suddenly, that membership has already paid for itself.
