MANAGEMENT & STRATEGY
When Costco Returns Profits to Customers: How Far Can Price Investments Go?
Based on Costco's FY2026 performance and operational structure, this article compares cash retention, core item price investments, and operational capability investments. By linking contribution margin, payback period, and expansion or suspension conditions, it analyzes pricing policy as a matter of enterprise-wide capital allocation.

Costco's financial results for fiscal year 2026 embody both low-price strategies and profit expansion.…
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