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Costco: Costco Wholesale Corporation
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James D. Sinegal, co-founder of Costco, had worked with Sol Price at FedMart before joining him at the Price Company. Sinegal left Price, having reached the level of executive vice president, and in 1983 formed Costco Wholesale Corporation with Jeffrey H. Brotman, a former oil exploration company executive. The first Costco, based heavily on the Price Club concept, opened on September 15, 1983 in Seattle, Washington. [4] In less than two years, Costco went public, expanded into Canada, and became one of Price's fiercest competitors. Costco was ... seen as the more creative merchandiser, becoming the first warehouser to extend its product line to encompass such fresh foods as baked goods, meats, seafood, and produce. As much as two-thirds of its sales were based on such recession-proof items, which became an important element to its success in the economic downturn of the late 1980s.
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Costco Wholesale Corporation operates membership warehouses, which offer a selection of branded and private label products in a range of merchandise categories in no-frills, self-service warehouse facilities. The company's product categories include candy, snack foods, tobacco, alcoholic and nonalcoholic beverages, and cleaning and institutional supplies; appliances, electronics, health and beauty aids, hardware, office supplies, garden and patio, sporting goods, furniture, and automotive supplies; dry and institutionally packaged foods; apparel, domestics, jewelry, housewares, media, home furnishings, cameras, and small appliances; meat, bakery, deli, and produce; and gas stations, pharmacy, food court, optical, one-hour photo, hearing aid, and travel. It offers Business, Gold Star (individual), and Executive Memberships. As of September 2, 2007, Costco operated 488 warehouses comprising 379 in the United States and 4 in Puerto Rico; 71 in Canada; 19 in the United Kingdom; 6 in Japan; 5 in Korea; and 4 in Taiwan. The company ... offers its products through Web sites costco.com in the U.S. and costco.ca in Canada. Costco was founded in 1976.
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Costco Wholesale Corporation ("Costco") began operations in 1983 in Seattle, Washington. The Company operates membership warehouses in a no- frills, self-service environment offering a selection of branded and private- label products. The range of merchandise categories include foods, fresh- foods, and non-foods, along with goods and services offered through its gas stations, pharmacies, food courts, optical shops, one-hour photo shops, and hearing aid centers. Net sales for fiscal year 2007, ended September 2, 2007, were $63.1 billion.
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Costco.com operates the Web site of Costco Wholesale Corporation, a pioneer in the world of wholesale buying clubs. Only three years after enabling online purchasing on the site, Costco.com generated nearly U.S.$100 million in online revenue - and had outgrown its e-commerce management system. Tags: Web, Costco, E-business, Web Technology, E-business/E-Commerce, Sales Strategy, Web Site Development, Channel Management, Internet, Sales, Marketing Case studies
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Costco Wholesale Corporation operates a chain of membership warehouses that sell a wide range of merchandise, including fresh foods, household goods, electronics, and apparel. Costco manages 529 warehouses throughout the US and 8 other international markets, which include Japan and the UK. Since Costco's founding in 1983, Costco has become a multi-billion dollar corporation, generating over $64 billion in total revenues for 2007.
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The warehouse clubs Costco and BJ 7;s reported substantially higher profits on Wednesday, with both benefiting as cost-conscious shoppers favored lower-priced alternatives to department stores and specialty retailers. The Costco Wholesale Corporation, the nation 7;s largest warehouse club, said its quarterly profit rose 31 percent to continue a recent run of solid results driven by strong sales and cost-cutting.
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Costco Wholesale Corporation