Costco’s Step in the Right Direction

Today, I’m pleased to report a victory for New Yorkers receiving Food Stamp benefits: after entreaties from myself, Council Member Eric Gioia and Comptroller William C. Thompson, Jr., Costco has ‘agreed to accept Food Stamps at its two New York City stores.’ In a statement, James D. Sinegal, Costco’s CEO, declared his intention to “be a part of the solution to the financial burden that many people are facing today”, citing the “unprecedented economic challenges” that influenced into his decision.

As a trustee of the New York City Employee’s Retirement System, a significant Costco shareholder, I recently sent a letter urging Mr. Sinegal to amend their policy on Food Stamps. With today’s news, I’m hopeful that Costco has recognized both the severity of this economic crisis, and the potential to expand its customer base by reaching out to New Yorkers receiving Food Stamps.

In the coming months, Costco must continue in the right direction by committing to accept Food Stamps at the new store it plans to open in East Harlem—a neighborhood in which tens of thousands of residents receive Food Stamp benefits.

Voice Your Opinion: What do you think about Costco offering its products to New Yorkers receiving Food Stamps?

Comments

[A concerned citizen]

I'd like to thank Ms. Gotbaum, Mr. Goia, and Mr. Thompson for their successful efforts on the part of those who are struggling to keep food on the table and their lives on track. COSTCO and other stores like it benefit greatly from the communities where they are located. Congratulations to our public officials for being a voice for those who have little power. And, congratulations to COSTCO for changing their food stamp policy. I will certainly go out of my way to shop there.

A Heartened Citizen

[Church Fed]

A fine accomplishment!