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Costco Wholesale: Costco Wholesale Corporation
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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 began operations in 1983 in Seattle, Washington. In October 1993, Costco merged with The Price Company, which had pioneered the membership warehouse concept in 1976, to form Price/Costco, Inc., a Delaware corporation. In January 1997, non-warehouse assets were spun off to Price Enterprises, Inc., and the company changed its name to Costco Companies, Inc. On 30th August, 1999, the Corporation re-incorporated from Delaware to Washington and changed its name to Costco Wholesale Corporation, which trades on the NASDAQ under the symbol 'COST'.
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Costco Wholesale Corporation (Costco) operates membership warehouses that offer a selection of nationally branded and private-label products in a range of merchandise categories in self-service warehouse facilities. The Company buys the majority of its merchandise directly from manufacturers and routes it to a cross-docking consolidation point (depot) or directly to its warehouses. Costco’s depots receive container-based shipments from manufacturers and reallocate these goods for combined shipment to its individual warehouses, generally in less than 24 hours. As of September 3, 2006, the Company operated 487 warehouses, including 354 in the United States and four in Puerto Rico, 68 in Canada, 18 in the United Kingdom, five in Korea, four in Taiwan, five in Japan and 29 warehouses in Mexico (through Costco Mexico, a 50%-owned joint venture).
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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 brings wholesale prices to everyday people. The Costco Wholesale Corporation (NASDAQ: COST) is a $51.9 billion company and employs about 120,500 people. Headquartered in Issaquah, WA, its main activity is to operate membership warehouses. The Company operates in two segments: Cash and Carry Merchandise and Membership Policy. Costco appeals to businesses and consumers with attractively low prices and reinforces customer loyalty through its membership format. It has about 430 warehouse clubs across US, Canada, UK and other countries.
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Costco was created by the merger of two mammoth membership warehouse stores, Price Club and Costco Wholesale. Originally a family business, the Price chain went public in 1980 with four stores. Costco Wholesale opened its first warehouse in Seattle in 1983. When the two merged in 1993 the combined company was called Price/Costco, Inc. In 1997 the company changed its name to Costco Companies, and in 1999 changed it again to Costco Wholesale Corporation. As of May 2004, Costco operates 320 locations in 38 U.S. states & Puerto Rico; 63 locations in nine Canadian provinces; 15 locations in the United Kingdom; three stores in Taiwan, five in Korea, four in Japan and 23 in Mexico.
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Costco Wholesale Corporation