The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Brandon Babcock Cheatham - Citigroup Inc., Research Division - Analyst
: This is Brandon Cheatham on for Paul. Going to take a stab at the membership question as well. You have some great membership
statistics. It sounds like you're offering great value in the club. I was wondering, are you thinking about not investing as much in the
new member promotions? Anything that you could talk on there. Has that looked similar to last year? Has that increased?
Question: Brandon Babcock Cheatham - Citigroup Inc., Research Division - Analyst
: I think right now, you're offering $40 Costco cash card if you sign up.
Question: Brandon Babcock Cheatham - Citigroup Inc., Research Division - Analyst
: Got it. And you mentioned your own chartered ships. So I was just wondering, what percentage of your shipping would that represent
next year?
Question: Brandon Babcock Cheatham - Citigroup Inc., Research Division - Analyst
: Less than 20%. Got it. And...
Question: Brandon Babcock Cheatham - Citigroup Inc., Research Division - Analyst
: Got it. Okay. And last one for me. On the e-comm side, I was just wondering your customer that shops there, do they visit the store
as frequently as a member that doesn't shop online?
Question: John Edward Heinbockel - Guggenheim Securities, LLC, Research Division - Analyst
: So Richard, you said it's an art not a science. I'm curious where you guys sit on data science and analytics around price elasticity, one;
and two, personalization of the monthly mailer or monthly e-mails. Where are we on that journey?
Question: John Edward Heinbockel - Guggenheim Securities, LLC, Research Division - Analyst
: And then maybe secondly, one of the things you guys have been known for, right, is seasonally getting in and out before everybody
else. So do you lean into that in an environment, right, where it's hard to chase product, get it in early, people buy it, and they're
done for the season? Do you lean into that more in terms of where you can more inventory get it in the club? Or is there a limitation,
right, because you've got to transition from one season to the next?
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