Thread by @trengriffin

1/ Costco: "About 79% of our import containers are late by an average of 51 days. Chip shortage is still impacting many items, some more than others. For Q1 '22 we estimate that overall year-over-year price inflation to be in the 4.5% to 5% range."

seekingalpha.com/amp/article/44…

2/ Costco's Richard Galanti: "I can't think of any company that has the buying power per item that we do, because we do roughly $200 billion in sales with 4,000 ish items versus anybody else that's doing it with hundreds of thousands of items, or 50,000 items."

3/ My blog post on Costco co-founder Jim Sinegal is here: 25iq.com/2014/05/24/a-d… I met with the other co-founder Jeff Brotman and thought about writing a post on him too. Bill Gates Sr was a board member and Charlie Munger is still at 97. Munger now owns ~$ 100 million of COST.

4/ In 2001, the year the Internet bubble popped, Jim Sinegal met Jeff Bezos in a Starbucks in Bellevue, Washington and told the Amazon CEO about the Costco business model. I know that Starbucks store well. Costco used the Price Club model and Price Club used the Fed Mart model.