Costco Stores by Janice Cooper
Costco Stores Stockpiling Bulk Friendly Stores - RateIt
Costco is the largest membership warehouse club in the U.S. Costco is one of the largest retailers in the nation and remains one of the top ten largest retailers in the world. It is also credited for being one of the largest retailers of fine wine. Costco was founded in Kirkland, Washington however its headquarters are in Issaquah, Washington. The chain has locations alll over the world including Canada, Austrailia, Mexico, Taiwan, South Korea and Japan. James Sinegal and Jeffrey Brotman opened the first warehouse in Seattle in 1883. Sinegal had beginnings in the wholesale distribution industry.
In 1993, the company merged with Price Club. The two companies offered similar business models and size and the merge resulted in double the size of the brand. PriceCostco had 206 locations and generated $16 billion in annual sales and was led by executives of both companies. Warehouse No. 401 was the first Price Club location built in 1976. It was constructed within in old airplane hangar previously owned by Howard Hughes. It is still in operation today. In 1997 the company changed its name to Costco Wholesale and all Price Club locations were branded the same. Costco management only sells its products at low prices and if they feel the wholesale price is too high they will refuse to stock the product. They focus on selling low priced merchandise in bulk packages. It also does not carry multiple brands if the same items. This results in a high volume of sales.