Comparing Walmart, Amazon, and Costco: Revenue and Employee Numbers

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Costco has incredibly high revenue dollars per square foot, even surpassing Apple stores. Despite having significantly fewer employees than companies like Walmart and Amazon, Costco manages to generate a third to a half of Walmart's total revenue. Their margins may be lower, but their revenue dollars are substantial. On average, a Costco warehouse generates over $200 million in revenue, with the top stores reaching $300 million.

Costco is not only Charlie Munger’s favorite company of all time (plus he’s on the board, natch), it’s an absolutely fascinating study in how seemingly opposite characteristics can combine to create incredible company value. For instance: Costco has the cheapest prices of any major retailer in America — and also the wealthiest customer base. They pay their hourly workers 30% above the industry norm (and give them excellent healthcare + 401k benefits) — and are almost 3x more profitable on labor than Walmart. Speaking of Walmart, Costco stocks 40x fewer SKUs than their Bentonville-based rivals — yet sells an average of 15x more volume of each. And oh yeah, practically all of Costco’s C-Suite started their careers as baggers and checkout clerks! Tune in for a mind-bending exploration of one of the world’s most iconic — and iconically unique — companies.

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