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About Costco Wholesale
Costco Wholesale Corporationis an American membership-only warehouse
club that provides
a wide selection of merchandise. As of 2014, it was the third largest retailer in the United
 in 2015 it is the second largest in the world
(after Walmart)and the largest membership warehouse club chain in the
Costco's worldwide headquarters are
in Issaquah, Washington, USA, and the
company opened its first warehouse in 1983 in Seattle. Through mergers, Costco's
overall corporate history dates back to 1976, when its former competitor Price
Club was founded
inSan Diego, California.
Founded by James (Jim) Sinegal and Jeffrey
Brotman, Costco opened its
first warehouse in Seattle, Washington, on September 15,
1983. Sinegal had started
in wholesale distribution by working for Sol Price at both FedMart and Price Club. Brotman, an attorney from an old Seattle retailing family, had also been involved in
retail distribution from an early age. Sol Price died on December 14, 2009 at 93.
In 1993, Costco merged with Price Club
Price in the Canadian province of Quebec). Costco's business
model and size were similar to those of Price Club, which was founded by Sol and Robert Price in 1976
in San Diego, California. Thus, the combined company, PriceCostco, was effectively double the size of each of its parents.
Just after the merger, Price Costco had 206 locations generating $16 billion in annual
sales. PriceCostco was initially led by executives from both companies, but then Sol and his son Robert
Price founded Price Enterprises and left in December 1994.
Prior to the 1993 Price merger,Wal-Mart founderSam Walton wanted to merge Sam's Club with Price
Club. The first Price Club location was opened in 1976 in an old airplane
hangar, previously owned
Hughes, and is still in operation today (Warehouse #401 located in San
Diego). In 1997, the company changed its name to Costco Wholesale and all Price Club locations were
In the United States, the main competitors operating
membership warehouses are Sam's
Club andBJ's Wholesale Club. Although Sam's Club has more warehouses than Costco, Costco has higher total sales volume. Costco employs
about 142,000 full and part-time employees, including seasonal workers. As of September 2009[update] Costco had 55 million members.
Costco was the first company to
grow from zero to $3 billion in sales in less than six years. For the fiscal year ending on August 31, 2009, the company's sales totaled $71.42
billion, with $1.09 billion net profit. Costco is 25th on the
500. The ACSI (The American Customer Satisfaction Index) named Costco number one in the specialty
retail store industry with a score of 83 in Q4 2008.
As of September
2010[update], Costco'sboard of
directors is chaired by
Jeffrey H. Brotman and includes three officers of the company: CEO/co-founder James D.
Sinegal, President/COO W. Craig Jelinek, and CFO Richard A. Galanti. There are also
elevenindependent directors:Hamilton E.
James (the "Lead Independent
Director"),Benjamin S. Carson, Sr.,Susan Decker,
Richard D. DiCerchio,Daniel J. Evans,William H. Gates, Sr.,
Richard M. Libenson,
John W. Meisenbach,Charles T. Munger,Jeff Raikes, andJill
In the United States, Costco is closed on
seven holidays: New Year's Day,Easter,Memorial Day, Independence
Day, Labor Day, Thanksgiving, and Christmas.
Costco Wholesale Corp Properties For Sale Across
the United States:Alabama, Alaska, Arizona, Arkansas, California, Colorado,
Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa,
Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi,
Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina,
North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South
Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Virgin Islands, Washington, West Virginia,