Costco

Costco runs one of the most admired business models in retail: sell goods at razor-thin markups and make the real money from membership fees. Shoppers pay an annual fee to buy in bulk at its warehouses, and because the merchandise is priced barely above cost, that loyalty is fierce and renewal rates are extremely high, giving the company a stream of high-margin membership income that funds everything else. It is one of the largest retailers in the world, known for enormous volumes of a limited selection, its own Kirkland Signature brand, and famously cheap staples like its rotisserie chicken and food-court hot dog. Founded in 1983 and based in Issaquah, Washington, Costco trades at a premium valuation for a retailer because investors treat its membership base as a durable, recurring asset. The main knock on the stock is simply its price, which assumes the steady growth continues for years.

On MyRWA, COST trades tokenized across 24 on-chain venues - see the listings below.