Most national retailers close on 2 holidays. Costco shuts down for 7.
Costco has a longstanding policy of closing US stores on seven holidays each year. The retailer's former CFO says the cost was never a consideration.
Costco, the popular wholesale club, observes a unique holiday schedule that differs from many national retailers. The company closes its US warehouses on seven holidays each year, a practice CEO Ron Vachris explained is important for his employees to spend time with their families and friends. While most national chains typically close for Thanksgiving and Christmas, Costco extends its closure to include New Year's Day, Easter Sunday, Memorial Day, Independence Day, Labor Day, Thanksgiving Day, and Christmas Day.
Former CFO Richard Galanti stated that the cost of shutting down was never a consideration, as he emphasized that Costco would lose a small amount of sales on a specific day, but gain most of it back on the preceding or following day. This practice has been consistent for years, with Costco's policy being outlined in the employee agreement negotiated with the Teamsters union representation.
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