Costco is a membership-only warehouse club that provides a wide selection of merchandise. It is the second largest retailer in the United States after Walmart and is the fifth largest retailer in the world with locations in the United States, Canada, Mexico, the United Kingdom, Japan, South Korea, and Taiwan.
Costco was founded in 1976 by James Sinegal and Jeffrey Brotman. Sinegal had worked for Sol Price at FedMart and Brotman was a lawyer who had worked for Price Club. The first Costco warehouse opened in Seattle, Washington.
Costco’s business model is based on selling products at low prices in order to make up for its lack of advertising and branding. Costco does not accept manufacturer coupons, but it offers its own coupons on select items which can be used at any Costco location.
In 2014, Costco was ranked #14 on Fortune magazine’s list of the “World’s Most Admired Companies”. In 2015, Consumer Reports ranked Costco #1 on their list of the “Most Trusted Brands”.
Who owns the Costco?
The majority of Costco shares are owned by individual investors.