Memorial Day is almost here, and with Costco, the DMV, post offices, and most major banks being closed, many are wondering what exactly is open and what is closed on Memorial Day 2014? Most major retail stores will be open on Monday, reports SavingAdvice.com on May 24.
Stores like Target, Walmart, Sears, Kmart, Macy’s, Home Depot, Lowe’s, and Best Buy are not only open, but the retailers are offering special Memorial Day 2014 sales. Of course, Amazon.com is also offering special deals. Amazon.com’s Memorial Day event includes men’s, women’s, and children’s items ranging from clothes to shoes to accessories. Save up to 60 percent during the special Amazon.com event.
With Costco being closed on Monday, some readers ask why Costco is closed when all the other stores are open. Besides offering special deals to its customers throughout the year, the main reason that Costco is closed is that it is still a store with values. According to a Costco Historical Highlights overview, in 1976, Sol & Robert Price raised $2.5 million from friends and family to open Price Club on July 12. The first warehouse club for business shoppers only was located in a remodeled airplane hangar on Morena Boulevard in San Diego in California.
Since 1976, Costco (formerly known as Price Club), underwent many changes and, as of May 16, 2014, has now 459 stores in 43 U.S. states and the District of Columbia. There are 87 stores in Canada, 33 in Mexico, 25 in the U.K., 19 in Japan, 10 in South Korea, four in Puerto Rico, 10 in Taiwan, five in Australia, and two planned for Spain. What has not changed are the warehouse’s ties to San Diego and its “friends and family” attitude. In contrast to Walmart, for example, 85 percent of Costco’s workers have health insurance compared to less than 50 percent at Walmart.
In a 2005 article, The New York Times called Costco the “Anti-Wal-Mart” business. “Some Wall Street analysts assert that Mr. Sinegal is overly generous not only to Costco's customers but to its workers as well. Costco's average pay, for example, is $17 an hour, 42 percent higher than its fiercest rival, Sam's Club. And Costco's health plan makes those at many other retailers look Scroogish. One analyst, Bill Dreher of Deutsche Bank, complained last year that at Costco ‘it's better to be an employee or a customer than a shareholder.’ Mr. Sinegal begs to differ. He rejects Wall Street's assumption that to succeed in discount retailing, companies must pay poorly and skimp on benefits, or must ratchet up prices to meet Wall Street's profit demands. Good wages and benefits are why Costco has extremely low rates of turnover and theft by employees, he said. And Costco's customers, who are more affluent than other warehouse store shoppers, stay loyal because they like that low prices do not come at the workers' expense. ‘This is not altruistic,’ he said. ‘This is good business’."
Memorial Day is a United States federal holiday, and Costco is closed because it is honoring the men and women who died while serving in the United States Armed Forces. The warehouse club is also honoring the fact that its workers like to spend the day with their families. As a federal holiday, all federal, state, and local government offices are closed along with the DMV, post offices, major banks, Credit Unions, public libraries, and public schools. Most cities will have garbage pickup rescheduled for Tuesday. Gas stations and restaurants are generally open on this federal holiday, but when in doubt – check it out with a brief phone call.