Gerald Store, CEO of Store Advisors and former Toys R Us and Target executive, reacts to November’s strong retail report and explains how the industry’s winners are “value-based” players.
Costco’s 18,000 Teamsters are preparing to go on strike if they are not presented with a “fair contract offer” by the end of the month.
According to a Sunday press release, 85% of Costco Teamsters nationwide voted in favor of authorizing the strike. Tensions were high throughout the week as the Teamsters posted several Costco-related posts on social media.
Teamsters General President Sean M. O’Brien said in a statement: “From day one, without Costco’s historic, industry-leading agreement, our members will not be allowed to work a day past January 31st. “I have been told that,” he said.
“Costco’s greedy executives have less than two weeks to do the right thing. If they refuse, there will be no one to blame but them when our members go on strike.” continued Mr. O’Brien.
Costco’s cold medicine recalled due to possible ‘contamination’
A Costco employee helps monitor customers at a self-checkout kiosk at a Florida store. (Lindsay Nicholson/UCG/Universal Images Group/Getty Images)
“The final week of negotiations will begin on January 20th,” the Teamsters said on X.
Practice pickets were held in California, Washington, and Long Island “in preparation for a potential strike.”
Hundreds of people in San Diego are preparing to mobilize a large practice picket by Thursday, the Teamsters said.
Costco issues recall notice for frozen waffles and freeze-dried meat over listeria concerns
Customers lined up at the checkout counter at a crowded Costco store in Queens, New York. (Lindsay Nicholson/UCG/Universal Images Group/Getty Images)
Ticker Security Last Change Change % COST COSTCO WHOLESALE CORP. 943.19 +23.44 +2.55%
Costco’s first store opened in 1976 under the Price Club name “in a converted airplane hangar on Morena Boulevard in San Diego,” according to the retail giant’s website. Today, the membership warehouse club is a “multi-billion dollar global retailer that operates warehouse clubs in eight countries.”
Costco’s website states that the company is “well known for caring more about its employees than other Fortune 500 companies. By offering fair wages and first-class benefits, the company “We have created a work culture that attracts positive, energetic and talented employees.” . ”
The Costco logo appears on the exterior of a Costco store on July 11, 2024 in Richmond, California. (Justin Sullivan/Getty Images/Getty Images)
Click here to read more on FOX Business
Costco did not respond to FOX Business’ request for comment.
“We are the backbone of Costco,” Brian Fields, a Costco employee in Baltimore and member of Teamsters Local 570, said in a statement. “We drive the company’s success and generate profits. We want the company to step up and do the right thing on our behalf, but if they don’t… It’s the company’s responsibility. The company will be attacking itself.”
