A Costco was built not too far from my work about two years ago. They tore down about 10 acres of woods to put it up, right next to a residential development. Other than the opening day, I have never seen the parking lot more than half full. Usually, there are only about 30-40 cars in the lot. I can't imagine how they are making any money.
Definitely not the case here. The only time you'll the a half empty parking lot at either of my Costco's is on a weekday BEFORE the place opens. I'm not kidding either. The Costcos by me (King of Prussia and Montgomeryville) are always mobbed.
This is a "fluf" stock now, like google.
There is no substitute for good earnings, and there is no hiding a 23:1 price/earnings ratio.
Freepers please note: Don't put a nickle in this stock
We live in the Lacey-Olympia-Tumwater, Washington area....three towns that are smack dab on top of one another...our local Costco is over in Tumwater(we live in Olympia), so its a long cross town drive....and that lot is always jammed, no matter what day we go on, no matter what time of day...that lot is never, ever empty...jostling for parking spots is an ever present sport....
Now they are currently building another Costco, very near to us...and I expect, it will also be jammed as well...our area of the state is fast growing population wise, and no doubt Costco, will do great business in the newest Costco as well...it will relieve the jammed lots over at the other Costco, and people like us who live much closer to the new one, will go there instead...
I do wonder tho...clear across the road, and a few blocks back, is our local Wal-Mart, which was built only a few years ago....I do suspect, that bargain hunters will make a day of it...half the day at Wal-Mart, and the other half at Costco....
From the different Costcos I have seen in different parts of the country, I find it amazing that your Costco, according to your report, is usually empty...that would seem to be the exception...most Costcos I have ever seen, are always, always jammed....