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Transcript of Costco Presentation
1976 - Price Club opens its first store on July 12 in San Diego.
1983 - The first Costco opens in Seattle.
1984 - By year-end there were nine Costco's in five states.
1985 - Costco goes public on December 5th.
1992 - Costco opens it's 100th warehouse
1993 - Price Company and Costco merge and form PriceCostco.
1997 - The company changes its name from PriceCostco to Costco Companies, Inc.
1998 -Costco.com is born
1999 - The Company changes it's name to Costco Wholesale Corporation.
2010- Costco is the 3rd largest retailer in the U.S. and 8th largest in the world.
2012 - Costco's Co-Founder and CEO Jim Sinegal stepped down and Craig Jelinek International Expansion
1985 - Canada
1992 - Mexico
1993 - UK
1994 - Korea
1997 - Taiwan
1999 - Japan
2002 - Puerto Rico
2009 - Australia Organizational Strengths
Strong employee benefits
Low employee turnover
Higher than average wages Finances
Ranked in 2012 Fortune 500 Companies
Steady revenue despite recession
Revenues $99.14 billion
2001-2011 annual growth rate 9.8%
selling top-quality national and regional brands at prices consistently below traditional wholesale or retail outlets
selection of only about 4,000 items
Costco’s merchandise buyers remained on the lookout to make one-time purchases of items that would appeal to the company’s clientele and that would sell out quickly.
Keep ¼ of products
Website Sales Issues Faced
Success in Mexican and Australian markets
Lack of marketing and advertising
Northeast stores Growth Strategy
Subsidiaries and joint ventures
As of December 12, 2012, Costco has 618 warehouses
Expand Kirkland Signature Offerings 1983
Bulk items at reduced prices 447 in the United States (including 4 in Puerto Rico)
82 in Canada
32 in Mexico
23 in the United Kingdom. The latest to open is in Leicester
13 in Japan The latest to open is in Kobe
8 in South Korea
9 in Taiwan
3 in Australia Thank you!