🠈 Costco 🠊
Costco is the largest Wholesaler Club in the world (followed by Sam's Club). The company is headquartered in Issaquah, Washington. With revenues topping $52.9 billion, Costco secured the 28th position on the Fortune 500 list of largest American companies.
Costco is a membership warehouse. Customers first buy an annual membership, then get get to take advantage of Costco's low membership prices. Costco warehouse stores carry over 4000 items (many of the items in bulk sizes.) The range of items includes tires, TVs, computers and food.
Costco trades on the NASDAQ with the symbol COST.
The company was based on the model created by FedMart. FedMart fractured due to a dispute between Sol Price and Hugo Mann. Sol Price created Price Club during the dispute.
- 1983: James Sinegal and Jeffrey H. Brotman opened the first Costco in Seattle.
- 1985: Costco held an IPO on NASDAQ with the symbol COST.
- 1992: Costco introduced the Kirkland signature label.
- 1993: Costco and Price Club merged to create PriceCostco
- 1975: Sons and business associates of Sol Price created Price Club. This happened after Hugo Mann bought control of FedMart from Sol Price.
- 1995: Price Enterprices spun off of Costco to create PriceSmart in Central and South America and Licensess in Asia.
- 1996: Price opened the first PriceSmart in Panama and the first Licensees in Indonesia.
- 1997: PriceSmart held on IPO on NASDAQ with the symbol PSMT.
- Wikipedia - Costco (Drawn 10/10/2020)
- Funding Universe - PriceCostco (Drawn 10/10/2020)
- Wikipedia - PriceSmart (Drawn 10/10/2020)
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