Costco Wholesale Corporation

Summary

Costco is a membership warehouse club, dedicated to bringing their 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.

History

The company’s first location, opened in 1976 under the Price Club name, was in a converted airplane hangar on Morena Boulevard in San Diego. Originally serving only small businesses, the company found it could achieve far greater buying clout by also serving a selected audience of non-business members. With that change, the growth of the warehouse club industry was off and running.

In 1983, the first Costco warehouse location was opened in Seattle. Costco became the first company ever to grow from zero to $3 billion in sales in less than six years. When Costco and Price Club merged in 1993, the combined company, operating under the name PriceCostco, had 206 locations generating $16 billion in annual sales.

Vision Statement

A place where efficient buying and operating practices give members access to unmatched savings.

Mission Statement

To continually provide our members with quality goods and services at the lowest possible prices.

References

https://www.crunchbase.com/organization/costco

http://panmore.com/costco-wholesale-vision-statement-mission-statement

https://www.comparably.com/companies/costco/mission

https://en.wikipedia.org/wiki/Costco