Actually you are incorrect in your statement. Generally, Costco breaks even on the sale of merchandise. The membership income is essentially the net income of the company. You pay Costco this fee to mark your member pricing at the lowest possible. Whether or not it is worth it to you to shop there depends on what you buy and how much of it you purchase. Only you can figure that out. Generally, merchandise is priced with about a 10% markup, some more (apparel 15%. tobacco 1%) and some less. You can see that in the income statement too if you choose.
So when they pump that Executive Membership CRAP for a black plastic card & a $100 yearly fee.. then they conveniently EXCLUDE a lot of the items you buy from making up the alleged 2% return at they end of the year. And the alleged coupons they give only to 'executive members.
My wife tried that executive membership crap 1 year. We spent 10K in costco that year WE DID NOT get no 2% check & the coupons came in the mail one Month AFTER they expired.
I call Bullpucky. Been Members literally forever (since the 1993 merger) and since they instituted the program have received not only the Costco check but the Amex Rebate check as well. Also, not like yours is a legitimate post, but you could go up to any Costco Membership counter, they could pull up your history and determine the status of your rebate. Of course this will never happen because you are fabricating.
Oh, and nice grammar, so sorry you didn't get no check.
No one forces you to shop there. If you don't think it is good deal, take your business elsewhere. Seems strange that COSTCO has over 55 million very loyal members (as of Sept 09), who do think it is a good deal, but maybe they are all brainwashed by the low prices, good service, and corporate ethics.
It seems like short sellers will say just about anything to try to get the price to come down. Whaa. Go cry somewhere else.