Company Snapshot: Costco
Costco Wholesale Corp.
999 Lake Drive
Issaquah, WA 98027
Total Annual Sales:
Jeffrey H. Brotman- Chairman of the Board
W. Craig Jelinek- President and CEO
Costco came into being under the Price Club name, in 1976. Its initial location was in a converted airplane hangar in San Diego.
At its founding, the company served only small businesses, however the company soon saw that it could access far greater buying power by also adding select non-business members. This idea ignited the growth of the warehouse club industry. In 1983, the first Costco warehouse location was opened in Seattle. In 1993 Costco and Price Club merged under the banner PriceCostco and the rest is a very successful, innovative history.
Recently the company announced plans to open nine new locations before this year’s end. This coincided with the company’s announcement of its annual financials. Annual sales rose to $110.2 billion from $102.9 billion from the previous year.