Acquired
Costco
Ben Gilbert
And it gets even better because it makes you more likely to go shop there now since you get even better deals with the cashback. You effectively, instead of getting the 14% gross margin, Costco is now only making a 12% margin on you when you shop there. So as long as you're spending $3,000 or more, it basically just makes Costco's margin even lower for everything you purchase.
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