Costco Wholesale Is The Nation's Largest Wholesale Club

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Overview of Costco Costco Wholesale is the nation’s largest Wholesale Club that operates in eight different countries including Australia, Japan, Taiwan, UK, South Korea, Canada, Mexico, and North America. It sells a variety of brand name products as well as their private label brand, Kirkland Signature, at discount prices. These products are sold in bulk packages to small business and individuals who are members. They have three different types of memberships: Gold Star member pays $55, this applies to individuals who do not own a business and the membership comes with two cards, one for each spouse; Business members pays $55, this pertain to small businesses only; and Executive members pay $110, which includes additional products and services to purchase such as insurance, mortgage services, and long-distance phone service. (Hoover’s Company and Industry Reports, 2014). Currently, Costco has 663 warehouse stores all over the world (Figure 1 shows all the key information). History of Costco The first warehouse store was opened in 1976 by Price Club which was founded by Sol and Robert Price in San Diego, California. Initially it was open only to Business shoppers. By 1983, Jim Sinegal and Jeffrey Brotman created Costco and open its first membership warehouse in Seattle, Washington on September 15, 1983. Within the first three years Costco had opened 17 more warehouses in other locations, had 1.3 million members, and 3,740 employees (Costco, 2014a). Costco expanded

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