<p>"Costco's gross margins are 12%, compared with Walmart’s 24%. The company makes up the shortfall through its membership fees: customers pay $60 or more a year to shop at its stores. In 2023 fees from its 129m members netted $4.6bn, more than half of Costco’s operating profits."</p><p><a href="https://www.economist.com/business/2024/02/15/why-costco-is-so-loved" rel="nofollow" class="ellipsis" title="www.economist.com/business/2024/02/15/why-costco-is-so-loved"><span class="invisible">https://</span><span class="ellipsis">www.economist.com/business/202</span><span class="invisible">4/02/15/why-costco-is-so-loved</span></a></p><p><a href="/tags/theeconomist/" rel="tag">#TheEconomist</a> <a href="/tags/costco/" rel="tag">#Costco</a></p>