Costco opened its first warehouse store in Seattle in 1983. The stores don't look much different today than they did almost 40 years ago.
stores merged in 1993 and became PriceCostco.Following is a transcript of the video.Costco is one of the most popular big-box stores in the United States. It's known for selling everything in bulk from toilet paper to seafood.Although the members-only wholesaler first opened in 1983, today's stores don't look much different than they did almost 40 years ago.The first location was in a converted airplane hangar in San Diego, California. At the time, it served only small businesses.
Its executive vice president of merchandising, distribution, and marketing, Jim Sinegal, played a big role in its initial success. After leaving Price Club, Sinegal and Jeff Brotman worked together to co-found Costco Wholesale, which they basically modeled after Price Club. The first Costco Wholesale store opened in 1983 in Seattle. Annual club membership was just $25 at the time. Adjusted for inflation, that's about the same annual fee today.
Stores quickly expanded across the Pacific Northwest. 200,000 people held Costco memberships by the end of 1984 and another year later, the company filed for an IPO. Soon, it became a $1 billion company.In 1997, PriceCostco changed its name to Costco Companies, Inc. Today, it goes by Costco Wholesale Corporation — or as most people know it, just Costco.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
6 times a Costco membership isn't worth itCostco has plenty of excellent deals, but in some cases, the cost of a $60 membership just isn't worth it.
Read more »
8 of the best car accessories you can buy at CostcoMany car accessories like bike racks, dash cams, and waxing kits are actually cheaper at Costco than at other stores.
Read more »
Costco shoppers are snapping up more clothes and home goodsCostco’s same-store sales results for the month of March showed growth in some categories, including home and apparel.
Read more »
Stocks making the biggest moves premarket: Tesla, JetBlue, Costco, Marriott, Stitch Fix & moreSome of the names on the move ahead of the open.
Read more »
After-hours buzz: Bed Bath & Beyond, Costco & moreSee which stocks are posting big moves after the bell on April 10.
Read more »
Jeff Bezos called for Amazon's competitors to raise their minimum wage. Here's how retail rivals like Walmart, Target, and Costco stack up on worker pay.Amazon CEO Jeff Bezos is challenging his rivals to boost their minimum wage. Here's how entry-level pay at Costco, Walmart, and Target compare.
Read more »
6 times a Costco membership isn't worth itCostco has plenty of excellent deals, but in some cases, the cost of a $60 membership just isn't worth it.
Read more »
Here’s What One Amazon Bull Took From the Annual Jeff Bezos LetterInnovation, third-party selling, and cashierless retail were the topics to track, according to Anthony Chukumba of Loop Capital.
Read more »