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 on January 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.

More than 18,000 Costco workers will be walking picket lines in less than two weeks if a labor dispute over wages and benefits is not resolved, according to the Teamsters union. Members voted by an 85% margin to authorize a strike when their current contract expires on Jan. 31, the union announced on Sunday.