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Business

Most national retailers close on 2 holidays. Costco shuts down for 7.

Business Insider ·
Most national retailers close on 2 holidays. Costco shuts down for 7.

Costco's holiday closing dates are posted at the front entrance of a Costco warehouse.

Dominick Reuter/Business Insider No Costco for you on Labor Day - the warehouse has long closed US stores on seven holidays each year.

The retailer's former CFO Richard Galanti told Business Insider the cost was never a consideration.

"We never looked at the math," he said.

If there's one thing Americans love to do with their free time, it's shop.

Retailers often treat their customers' days off as an occasion to run promotions or otherwise get a boost — but not so much at Costco.

The wholesale club has a longstanding policy of closing US stores on seven holidays, spaced throughout the year.

Costco still runs Labor Day sales, you just can't get the deals at the warehouse on Labor Day itself.

"We feel it is important for our employees to enjoy these holidays with their families/friends," CEO Ron Vachris told Business Insider via email.

"That is the reason we close on these days." Costco's decision to close for a week's worth of days each year contrasts with most national chains' holiday schedules, which typically close for Thanksgiving and Christmas .

Home improvement retailer Lowe's also closes on a third day: Easter Sunday.

In addition to being posted on giant metal signs at warehouse entrances, the list of days is enshrined in the Costco employee agreement, which is negotiated every few years between workers and leadership.

Former CFO Richard Galanti told Business Insider the employee agreement is generally similar to the labor contract Costco has with employees at locations with Teamsters union representation.

And while US warehouses do hundreds of thousands of dollars in sales every day, Galanti said the cost of shutting down was never a consideration during his tenure with the company.

Read the full article on Business Insider ›

5News aggregated this summary from the outlet’s public feed. The full article, with all the context, is on www.businessinsider.com — the content belongs to Business Insider.

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