Costco's $65 Membership Is the Real Profit Engine

This analysis breaks down Costco’s two-business model: a massive but thin retail operation and a small-priced but high-profit membership business. Using the script’s figures — the $65 annual fee and the contrast between gross margin and operating — we explain why the card, not the rotisserie chicken, is the engine. Education and commentary only, not advice. Comment "CARD" for more breakdowns.