New York City Comptroller William C. Thompson, Jr. issued the following statement after it was announced that Costco Wholesale Corporation will accept food stamps at all nationwide locations:

“I applaud Costco for making the correct moral and financial decision to accept food stamps at all their locations nationwide, ensuring that millions of American families who are suffering from the effects of this recession are provided the option to buy in bulk and stretch their dollar further. I was proud to have been a part of Costco’s recent decision to accept food stamps at their New York City locations and am happy that the company has chosen to do the right thing and extend the program across the country.

In addition, as a result of today’s move Costco’s corporate reputation will improve as they join with their competitors in accepting food stamps.  This is a win-win for all involved.”

As Chief Investment Officer of the New York City Pension Funds, who collectively hold 1.5 million shares in Costco, Thompson sent a letter to Costco Wholesale Corporation’s Chief Executive Officer James Sinegal calling on the company to accept SNAP payments, commonly referred to as food stamps, in New York City. Thompson cited the potential reputational risk for Costco and its investors among the reasons to reverse its policy. To view Thompson’s letter, visit www.comptroller.nyc.gov.
 

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