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.

The Costco Teamsters approved a strike if a contract agreement is not met by Jan. 31, when its current deal with the retailer expires. The union represents more than 18,000 employees nationwide. A union representing thousands of Costco employees voted to authorize a strike,