Members of the Teamsters union have authorized a strike against Costco on February 1 unless they reach a deal with the warehouse retailer before the current contract expires 31.

Thousand of Costco Teamsters across the U.S. are preparing to strike by the end of the month if the company does not present a "fair contract offer," the union says.

Teamsters union members working at Costco Wholesale locations across the country voted to authorize a strike on Sunday, with more than 85% of members in favor of hitting the picket lines.