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Home > Fortune 500 Companies > Costco Wholesale
Costco Wholesale
Costco Wholesale is a publicly traded company having a good stock performance result. Costco Wholesale is a fortune 500 stock listed company trading under COST.
Costco Wholesale Corporation began operations in 1983 in Seattle, Washington. In October 1993, Costco merged with The Price Company, which had pioneered the membership warehouse concept in 1976. In January 1997, after the spin-off of most of its non-warehouse assets to Price Enterprises, Inc., the Company changed its name to Costco Companies, Inc. On August 30, 1999, the Company reincorporated from Delaware to Washington and changed its name to Costco Wholesale Corporation. Mr. James D. Sinegal is the company's president and chief executive officer.
The company had approximately 5.0 million primary Business memberships and approximately 16.2 million Gold Star memberships. Included within this membership base are approximately 4.2 million members that have upgraded to the Executive Membership program. Costco operated 471 warehouses, including 346 in the US and Puerto Rico, 66 in Canada, 17 in the United Kingdom, 5 in Korea, 4 in Taiwan, 5 in Japan, and 28 in Mexico, as of December 8, 2005.
The CWC operates membership warehouses that offer a selection of recognized and private label products in a range of merchandise categories in no-frills and self-service warehouse facilities. Its product category includes candy, snack foods, health and beauty aids, tobacco, alcoholic beverages, soft drinks, and cleaning and institutional supplies. It also include dry and fresh foods, and institutionally packaged foods; appliances, electronics, hardware, office supplies, garden and patio, sporting goods etc.
Their sales exceeded 50 billion dollars, and their net profit topped the one billion dollars mark, both historical records for their Company. Their comparable sales, sales for units opened for more than twelve months, were a healthy 7 percent for the fiscal year, and in the first three months of fiscal 2006 their comparable sales continued at a strong pace of 9 percent. They are proud of the fact that in the 267 months they have been in business, Costco has never reported a negative comp sales figure.
Their average sales for fiscal 2005 were 120 million dollars per building, and they had twenty-five warehouses with sales exceeding 200 million dollars, with one topping 300 million dollars. There are many additional Costco warehouses nearing these figures, and we expect to see these numbers rise again next year.
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