Unionized Costco Workers Vote to Authorize Strike | Global News Avenue

More than 18,000 Costco wholesale stores (cost) Workers, represented by the International Brotherhood of Teamsters, voted to authorize a nationwide strike if they failed to reach a new labor deal by the end of the month.

“Costco truckers nationwide voted overwhelmingly, 85 percent, to authorize a strike,” the union said Sunday. “The vote follows the company’s continued failure to negotiate constructively and its refusal to make a fair contract offer that reflects the company’s record profits.” direct result.”

Costco reported profits of $7.4 billion in fiscal 2024, which ended Sept. 1, up 17% year-over-year, on revenue of more than $254 billion. Since then, it announced better-than-expected results for fiscal 2025 first quarter results-for the first time since then higher membership fees Effective and published Strong December sales figures.

“Costco’s greedy executives have less than two weeks to do the right thing,” said Sean M. O’Brien, president of the Teamsters union. “If they refuse, they have no one to blame but themselves when our members go on strike.”

Costco did not immediately respond. Investment Encyclopedia Request to comment.

Costco shares soared 35% last year

Costco shares have risen more than 35% in the past 12 months, closing at $943.19 on Friday. USA The stock market is closed on Monday Martin Luther King Day.

After Costco reported holiday sales figures, Oppenheimer analysts noted that catalysts for the stock price “include potential stock split“.