3 Costco Changes We Could See With a New CFO in Charge
Summary
On March 15, Gary Millerchip replaced longtime Costco executive Richard Galanti as CFO. Galanti has stated repeatedly on Costco earnings calls that the store would raise membership fees in due time, but he never committed to an actual timeline. Did you know, for example, that you can get low-cost eyeglasses and contact lenses at Costcos optical center, and that you might reap savings on medication by using its pharmacy? In a nutshell, it will take almost anything back at any time if it doesnt meet expectations, with limited exceptions (electronics, for example, must be returned within 90 days). So it wouldnt be surprising to see Millerchip establish some new rules with the stores return policy -- for example, that you cant buy a piece of furniture, use it for months on end, get sick of it, and bring it back for a full refund.