“Unusually for a retailer, Costco invests in its employees….The average retail employee in the USA makes $12 (£8.51) an hour whereas Costco pays its employees around $24 (£17.02) an hour…..Paying a living wage benefits the business – Costco has an annual employee turnover of 5% compared with the industry average of 59%. And it generates a significant positive externality…”

Investors Chronicle 11^th June 2021 p36