Warehouse club

a retail warehouse club with 698 stores in eight countries (Costco Wholesale, n.d.). The modern day Costco began in 1993 when Price Club, founded by Sol Price in 1976, merged with Costco, founded by Jim Sinegal and Jeff Brotman in 1983. When the two companies initially merged they utilized the name PriceCostco, but later reverted back to the name Costco (Costco Wholesale, n.d.). At the time of the merger, Costco had 206 locations and has quickly grown, now servicing over 170 million club members worldwide

COMPANY ANALYSIS Company Description Costco is a membership warehouse club that wants to charge the lowest prices on quality brand-name merchandise. With hundreds of locations worldwide, Costco sells a wide selection of merchandise. Costco has specialty departments and exclusive member services. (Costco) Mission “To continually provide our members with quality goods and services at the lowest possible prices.” In support of this mission, Costco has identified the following five responsibilities:

Case 4: Competition among the North American Warehouse Clubs: Costco Wholesale vs. Sam’s Clubs vs. BJ’s Wholesale 1. Competition in the North American wholesale club industry is mildly intense. The players in the wholesale club industry try to achieve lower prices by reducing throughout the store by using pallets or inexpensive shelving to display items. They also incur very low costs for store decoration and light fixtures and a relatively low labor cost because of the use of fewer works and

is a billion dollar warehouse club, and a global retailer working in eight countries. Through hard work and great business ethics, Costco is in the top three companies in Washington announced by the Washington CEO Magazine. In 1976, the company opened under Price Club serving only small business owners. Price Club was the first membership warehouse in the world. Jim Sinegal, was the vice president of merchandising, distribution, and marketing in Price Club who helped Price Club being into a successful

Costco first opened in 1976 as Price Club. At the time, it was located in a converted airplane hangar in San Diego, California, servicing small businesses. Soon, it realized that opening its doors to non-business members would result in far better sales. Thus, the birth of the warehouse club industry came to light. In 1983, the first Costco warehouse location opened up in Kirkland, Washington, near Seattle. It quickly became the first company to ever grow to $3 billion in sales in under six years

According to dictionary.com, a warehouse club is defined as a retail business situated in a warehouse or similarly large building, offering a wide variety of (mainly bulk) goods at discounted prices to members of its club. The appeal of warehouse clubs has grown for Americans over the last twenty years. Nearly every state in the union has a warehouse club in some form or fashion. Consumers join warehouse clubs because if its perceived value as well as the affluence sometimes associated with such

under the name of Price Club. Originally it served only small businesses, but later on it found that it could increase its sales by extending its services to non-business members. The first warehouse operating under the name, Costco, began functioning in 1983 in Seattle, Washington. In 1993 Costco and Price Club merged. Today, the company operates under Costco Wholesale name and has its warehouses all across the world. As of the end of 2015 it has close to 700 warehouses in total located in United

Introduction Costco is a membership only warehouse club. Their design is to provide high quality products and services to their members at low prices. They feel doing so will create a pleasurable shopping experience and increase customer loyalty. It was founded in a converted airplane hangar in San Diego under the name Price Club. The first Costco branded store opened in Seattle in 1983. They grew from nothing to $3 billion in sales in just six years. Costco and Price Club merged in 1993 becoming “PriceCostco”

Discount stores, Merchandise, Cash & Carry/Warehouse club | Revenue | US$ 88.915 billion (2011)[1] | Operating income | US$ 2.439 billion (2011)[1] | Net income | US$ 1.462 billion (2011)[1] | Total assets | US$

Costco, and Jeffrey Brotman, Chairman of the Board of Directors. In October of 1993 Costco merged with a Delaware company called The Price Company to form Price/Costco, Inc. The Price Company was the first to establish the concept of a membership warehouse. In 1999, the company changed its name to Costco Wholesale Corporation and moved themselves back to Washington. Costco is currently one of the largest retail stores in the industry. II. Business Mission Costco’s mission statement is to focus