Costco's CEO explains how they make record profits:

[Glassunion]

16. WalMart will not take note

Like most publicly traded companies, WalMart does not think about the future. They think about their investors in the immediate here and now. Costco is the exception to the rule. You want to make a few bucks really fast, wait for a long stretch of no news from WalMart, then invest. They will do a lay off, or announce a new partnership with some shitbag forced labor factory in China and boom stock will jump a few points. You want to make a lot of money. Invest in Costco, and walk away. Check it again in a few years, you'll be pleased.

The company I work for has had this philosophy since almost day 1. 45+ years later, our company is consistently voted as one of the best companies to work for in several states, each and every year. We have the very lowest turnover across the industry, and even in a recession has managed to stay profitable and add living wage jobs to our communities. We answer to ourselves, no one else.