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by smorks
2624 days ago
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am i missing something about costco? the article says it got 3.1 billion in fees, and only 51,600 members (which seems really low). that means each member on average paid around $60,078 in yearly fees? that doesn't seem right? maybe they meant 51,600,000 members, which then works out to the more reasonable $60.08 in fees? |
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The numbers appear to have come from:
http://phx.corporate-ir.net/phoenix.zhtml?c=83830&p=irol-SEC...
Which states 51,600 as the number of card holders, with the 'in thousands' obviously missed by the article writer.