How Walmart-owned Sam's Club is trying to take on Costco's private label Kirkland

Group 1 - Sam's Club is revamping its private label, Member's Mark, to compete with Costco's Kirkland Signature, which has significantly higher annual revenue despite a similar number of U.S. locations [1][2] - In the most recent fiscal year, Sam's Club reported net sales of $86.2 billion, while Costco's U.S. clubs generated $176.63 billion [1] - The success of Member's Mark is crucial for Sam's Club as it plans to open over 30 new stores in the next four years, targeting regions with existing competition from Costco and B.J.'s Wholesale [2] Group 2 - The CEO of Sam's Club, Chris Nicholas, acknowledged that the brand's revamp was inspired by Costco's successful merchandising strategy with Kirkland [2] - Retail analysts suggest that while it may take a long time for Sam's Club to overtake Costco, the formula established by Costco's Kirkland brand can serve as a model for Sam's Club [3] - Kirkland's diverse product range has been instrumental in driving membership sign-ups and renewals for Costco, highlighting the importance of a strong private label in attracting customers [3]