By Sarah Nassauer and Marcus Walker
Last year Ron Vachris became Costco's third chief executive officer after more than four decades at the warehouse retailer.
Sales have climbed steadily for years at Costco as it continues to attract inflation-weary shoppers with deals on everything from bulk toilet paper and eggs to diamond necklaces. Vachris aims to keep the growth streak going, he said in an interview at the company's Washington state headquarters.
"It is a big job," said Vachris. "You walk in, and you are the final decision maker."
To keep sales growing in a volatile environment, Vachris said he aims to use some of Costco's longtime strategies: keep prices and employee turnover low; cap product markups at 15%; and limit the number of products sold in a store. Costco earns most of its profits through shopper memberships, not product sales.
We spoke to Vachris about Costco's Kirkland Signature store brand, with $86 billion in annual revenue; negotiations with suppliers; and working his way up from forklift operator to CEO.
Watch the full interview in the video above.
Write to Sarah Nassauer at Sarah.Nassauer@wsj.com and Marcus Walker at Marcus.Walker@wsj.com
(END) Dow Jones Newswires
Nikki Walker's byline was incorrectly given as Marcus Walker in "How Costco's CEO Went From Forklift Driver to Kirkland's Final Signoff" at 12:01am
(END) Dow Jones Newswires
April 10, 2025 09:24 ET (13:24 GMT)
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