Costco Wholesale Corporation
||Public (NASDAQ: cosco COST)
||1983 (Seattle, Washington)
||James Sinegal, Founder & CEO
Jeffrey Brotman, Founder & costo Chairman
Richard Galanti, CFO
||Retail (Warehouse Club)
Private Label cotsco - Kirkland Signature
||$51.9 billion USD (2005)
||Costco U.S., Costco Canada
Costco Wholesale costoc coscto Corporation (NASDAQ: COST) is a membership warehouse club chain and headquartered in Issaquah, Washington, United States, with its flagship warehouse costc #1 in nearby Seattle.
- 1 History
- 2 Costco ostco today
- 3 Sales model
- 4 Products
- 5 In cotco costcp pop culture
- 6 See also
- 7 External links
Founded by James Sinegal csotco and Jeffrey Brotman, Costco opened its coatco first warehouse in Seattle, Washington on September 15, castco 1983. Sinegal began by working for Sol Price at both FedMart and cpstco Price Club. Brotman, an attorney from an old Seattle retailing family, was also involved in retailing from an cosyco early age.
Costco’s business model was similar to that of Price cosstco Club, which was founded by Sol Price in ccostco 1976 in San Diego, California. Both companies charged a membership fee and catered primarily to small-business costci owners.
The two retailers were similar in size when they merged in 1993, costco effectively doubling the size of the combined company, PriceCostco, costco locations which at that time had 206 locations generating $16 billion in annual sales.
Originally led by executives from both costco canada companies, Sol and his son Robert Price founded Price Enterprises and left PriceCostco in 1994. The company’s costco prices name was costco wholesale changed to Costco Wholesale in 1997.
Patrons entering a Costco costco pharmacy warehouse club.
Costco employs about 118,000 full- and part-time employees, including seasonal costco home workers, and for fiscal year 2005, ended in costco tires August, the company's store sales totaled $51.9 billion of costco stores which $1.063 billion was net profit.
As of August 2006, Costco has 483 locations:
- 354 in the United States and Puerto Rico
- 68 in Canada
- 29 in costco membership Mexico
- 18 in costco travel the United Kingdom
- 5 in South Korea
- 5 in Japan
- 4 in Taiwan
Typical Costco warehouse interior
Costco focuses on selling products at low prices, often at very high costco free unlimited internet access volume. These goods are usually costco store locations bulk-packaged and marketed primarily to large families and small businesses. Costco is only open to members and their costco online guests, except for purchases of liquor, gasoline and prescription drugs costco employment in some U.S. states due to costco home store state law and liquor license restrictions. Memberships must be purchased in advance; the cheapest membership costs $50 for one year (as costco photo of 5/1/2006). Purchases made costco furniture at Costco's website do not require a membership; however, a 5% surcharge is added to purchases made by costco hours non-members. Purchases made with gift cards, called Costco costco jobs cash also do not require a membership. To keep costs low, costco warehouse location only American Express cards, PIN-based debit cards, cash, and checks are accepted. Guests of members costcos are not allowed to pay by check.
Most products retail costco credit card merchant account are delivered to the store on shipping pallets, and the pallets are used to display products for sale costco wholesale club on the retail floor. This contrasts with other retailers that break costco store locator down pallets and stock individual products on shelves. costco coupons Costco caps its profit margin on most products at 14% or costco uk 15%.
Costco is also known for costco home furnishings its idiosyncratic inventory practices. Stores carry only selected products within a few product categories. Some product categories costco optical are not rotated often, so customers can expect certain brands of snacks or beverages to costco auto program be in stock indefinitely. In many other categories, products costco bakery appear and disappear over short periods of time.
A food concession stand at the costco .com Costco warehouse in Mountain View, California
Over the years, Costco has gradually expanded its range costco merchant services of products and services. Initially it preferred to sell only boxed products that could be dispensed costco store hours by simply tearing the shrinkwrap off a pallet. It now sells many other products that price costco costco flu shots are more difficult to handle, such as fresh produce, meat, seafood, fresh costco photos baked goods, flowers, clothing, books, software, home electronics, jewelry, art, hot tubs, and costco merchant account credit card processing furniture. Many stores have tire garages, pharmacies, hearing aid centers, optometrists, history of costco photo processors, and gas stations.
Some locations have liquor stores, often kept separate in order to career opportunities at costco in accounting comply with liquor license restrictions. In 2006, Costco won a court decision against costco discount membership the state of Washington allowing it to purchase costco kirkland signature wine directly from the producer, bypassing the state retail monopoly.
Costco also acts as an investment broker and travel agent. They costco wholesale canada have also introduced an automobile purchasing program costco american express credit card application where members can purchase new cars at specially arranged prices.
In pop culture
The 2006 comedy Employee of costco california the Month was filmed in a Costco warehouse. It stars Dane Cook.
- Sam's Club
- BJ's Wholesale costco credit card texas merchant account canada costco membership Club
- Official website
- How Costco Became the Anti-Wal-Mart - NY costco com Times
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