We are a membership warehouse club, dedicated to bringing our members the best possible prices on quality brand-name merchandise. With hundreds of locations worldwide, Costco provides a wide selection of merchandise, plus the convenience of specialty departments and exclusive member services, all designed to make your shopping experience a pleasurable one.
Our operating philosophy has been simple. Keep costs down and pass the savings on to our members. Our large membership base and tremendous buying power, combined with our never-ending quest for efficiency, result in the best possible prices for our members. Since resuming the Costco name in 1997, the company has grown worldwide with total sales in recent fiscal years exceeding $64 billion.
In less than two decades, Costco has transformed the retail world.
The Costco story begins in 1976, when entrepreneur Sol Price introduced a groundbreaking retail concept in San Diego, California. Price Club was the world’s first membership warehouse club, a place where efficient buying and operating practices gave members access to unmatched savings.
At first, Price Club was limited exclusively to business members, who could purchase a wide range of supplies and wholesale items. Jim Sinegal, the executive vice-president of merchandising, distribution, and marketing was instrumental in fine-tuning the merchandise and marketing strategies, helping to turn Price Club into a success story that changed the face of retailing worldwide.
Seven years later, Jim Sinegal channeled his expertise into co-founding Costco Wholesale with Jeff Brotman, and together they opened the first warehouse in Seattle, Washington in 1983. Over the next decade, both Price Club and Costco Wholesale continued to innovate and grow, and in 1993, the two mega-retailers merged, creating a gifted leadership team that soon made Costco the world’s most successful warehouse club.
Today, as the company evolves, it stays true to the qualities that helped attract and retain millions of loyal members around the globe: