‘The Big Money Show’ talks DEI policy in corporations as Costco continues its resistance while Disney reportedly is rolling back efforts.
Costco members now have a longer window during which they can visit the warehouse retailer’s gas stations to get fuel for their vehicles.
That comes after Costco recently lengthened the hours that its North American gas stations are open each day.
CEO Ron Vachris said during the company’s March 6 earnings call that Costco « extended our gas station hours in North America during the quarter to make filling up at Costco more convenient for our members. »
Cars line up at a Costco gas station in Bayonne, New Jersey, US, on Saturday, Dec. 9, 2023. Costco Wholesale Corp. is scheduled to release earnings figures on December 14. Photographer: Angus Mordant/Bloomberg via Getty Images (Angus Mordant/Bloomberg via Getty Images / Getty Images)
« Generally, our stations are now staying open an hour later than they did previously with some opening earlier as well, » he told analysts and investors.
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The warehouse retailer detailed the new hours for its gas stations in a Facebook post last month, noting that they « may vary » in California and Hawaii and that members should « check the Costco app for more information. »
The post listed the extended Costco gas station hours as 6 a.m. to 10 p.m. for Monday through Friday, 6 a.m. to 8:30 p.m. for Saturday and 6 a.m. to 7:30 p.m. for Sunday.
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« We’ve been pleased so far with the member reaction and we are seeing an improvement in overall usage of the gas stations, » Costco CFO Gary Millerchip said of the extended hours. « It’s early days, of course, but so far, we’ve been pleased by the member response. »
Customers line up at a Costco gas station in Concord, California, U.S., on Wednesday, June 22, 2022. President Joe Biden called on Congress to suspend the federal gasoline tax, a largely symbolic move by an embattled president running out of options (David Paul Morris/Bloomberg via Getty Images / Getty Images)
The gas stations at Costco are « open to Costco members only, » with Costco Shop Card customers also able to purchase fuel at them, according to the retailer’s website.
Costco executives were also asked about whether the warehouse retailer was considering extending the hours of its stores.
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Vachris said the company « will continue to look at the warehouse hours » but noted « no plans are in place at this time » to do that.
RICHMOND, CALIFORNIA – JULY 11: In an aerial view, the Costco logo is displayed on the exterior of a Costco store on July 11, 2024 in Richmond, California. Costco announced plans to raise membership fees for the first time since 2017 with a $5 jump t (Justin Sullivan/Getty Images / Getty Images)
Costco operated nearly 900 warehouse locations globally at the end of the second quarter, more than 600 of which were located in the U.S.
Since March 6, the company has launched a handful of new Costco locations, including one in Sharon, Massachusetts. That location marked Costco’s 620th in the U.S. and its 900th worldwide, according to Costco.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| COST | COSTCO WHOLESALE CORP. | 903.92 | +13.30 | +1.49% |
Vachris said Costco is looking to open 28 warehouses during fiscal 2025 « of which three will be relocations for 25 net new buildings. »
