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* Company Overview * History * Costco in Australia * Sustainability (PDF download)Welcome to CostcoMorena Boulevard in San Diego, CaliforniaWelcome to CostcoJeff Brotman & Jim SinegalHistoryThe following highlights are based on Costco's fiscal year * 1976 o Sol & Robert Price raise $2.5 million from friends and family to open Price Club on July 12th, the first warehouse club for business shoppers only. The warehouse was located in a remodelled airplane hangar on Morena Boulevard in San Diego, California. * 1979 o After a $750,000 loss the first year of operation, Price Club now has two locations, 900 employees, 200,000 members, and a profit of $1 million dollars. * 1980 o The Price Company offers public stock on July 12th. * 1982 o Jeff Brotman and Jim Sinegal meet and draw up plans to start a new wholesale club business. * 1983 o The first Costco warehouse opens in September in Seattle, Washington. o By the end of the year two, additional locations had opened in Portland, Oregon and Spokane, Washington. * 1984 o The fourth Costco warehouse opens in Salt Lake City, Utah o By calendar year-end, there were nine Costco's in five states, serving over 200,000 members. o Price Club sales exceed $1 billion. o The Price Company stock splits 2-for-1 on June 13th. * 1985 o Costco offers public stock on December 5th. o Costco's first hot dog cart opens. The price for a hot dog and a soda is $1.50. o Costco opens it's first Canadian warehouse in Burnaby, British Columbia. * 1986 o Price Club is 10 years old and is named the Forbes Magazine's "Best Managed Company". o The company has 22 locations, 3.2 million members, and 7,294 employees. o Costco is three years old and has 17 locations, 1.3 million members, and 3,740 employees. o Costco's first Pharmacy opens in Portland, Oregon and the Tukwila, WA warehouse becomes the house of the company's first fresh meat department. o The Price Company Stock splits 2-for-1 on February 4th. * 1987 o Costco opens it's first produce and bakery departments. o Both Price Club and Costco open their first Optical Labs. * 1988 o Costco closed Mid West Division and focused on East & West Coast markets. * 1989 o Costco begins the year with 46 warehouses in operation. o The Price Company is the third most profitable company in the United States. o The first 1-Hour Photo opens in the Chula Vista warehouse in December. * 1991 o Costco Stock splits 2-for-1 on May 16th. * 1992 o The first Price Club in Mexico City opens. o Costco's stock splits 3-for-2 on March 9th. o In December Costco opens it's 100th warehouse in Miami Lakes, Florida. * 1993 o Costco celebrates its 10th anniversary in September. o Shareholders approve the merger of Price Company and Costco. o PriceCostco is formed and opens its first warehouse in the United Kingdom in West Thurrock, Essex, England * 1994 o The first Asia Costco opens in Seoul, Korea. o First Hearing Aid Center opens. o Price Enterprises spin-off in December. * 1995 o The 200th location opens in Wenatchee, Washington. o The first gas station opens in Tucson, Arizona. o Kirkland Signature, Costco's exclusive private label, is introduced. * 1997 o The company officially changes it's name from PriceCostco to Costco Companies, Inc. o The first Taiwan Costco opens in Kaohsiung. o Executive Membership is introduced. * 1998 o Costco opens five locations in Detroit, Michigan on the same day. o E-Commerce at Costco.com brings Costco prices and services to the internet. * 1999 o The first Japan warehouse opens in Hisayama. o Special order kiosk introduced. o The Costco American Express co-branded membership credit card is introduced. o The average annual sales per warehouse reaches $100 million. o The Company changes it's name to Costco Wholesale Corporation on August 30th. * 2000 o The 2% reward program is initiated, increasing Executive Member value even more. o Costco opens its Travel Business. o Costco's stock splits 2-for-1 on January 14th. o Costco opens two locations in Texas. * 2001 o In July, the Company celebrates its 25th anniversary. o Costco consolidates it's Canadian operations to a new regional office in Ottawa, Ontario * 2002 o Costco enters Kansas and Indiana bringing the total number of states with operations to 36. o Costco enters Puerto Rico with two units opened in November 2001. o Costco finishes the fiscal year with 40.5 million cardholders and 98,000 employees worldwide. o The Costco hot dog and soda is still priced at $1.50 * 2003 o Costco Home opened in Kirkland, WA in December 2002. o Costco.com generated sales of $226 million. o Average annual sales per warehouse was $105 million. o 24 new Costco locations were opened * 2004 o True Earnings credit card from Costco and American Express is introduced. o Costco is the 5th largest retailer in the U.S. and 11th largest in the world. o Fortune Magazine lists Costco 29th on the Fortune 500. o Costco Enters Iowa bringing the total number of states with operations to 37. * 2005 o Costco opened second Home store in Tempe, AZ in October 2004. o Costco.ca (equivalent of Costco.com in the U.S.) is launched for Canadian members in February 2005. o 25 warehouses exceed annual sales of $200 million, with one warehouse that exceeded $300 million. o 63 million hot dog & soda combinations were sold. o Over 57,000 vacation packages were booked through Costco Travel. * 2006 o Costco opened it's first car wash facility at Seattle, WA on April 26, 2006. o Costco was named one of the "most admired" companies by Fortune magazine. o Costco Optical Center received the National Vision Retailers award for highest customer satisfaction from J.D. Power and Associates. o Introduced over 200 generic prescription medications in a 100 ct. for $10 or less. o Opened 27 new locations (US - 20, CN - 3, UK - 2, MX - 2) for a year-end total of 487. o Over 30 million rotisserie chickens were sold company wide. * 2007 o The typical Costco location generated sales of $130 million. o Costco was named one of the "most admired" companies by Fortune Magazine for a second consecutive year. o 550 Costco employees graduated college. o The current annual dividend is $.58 per share. o Costco.com exceeds $1 billion in sales on the year. * 2008 o Costco opens office in Sydney, Australia.Sydney Regional Office * 2009 o Costco opens first warehouse in Melbourne, Australia.Docklands opening * 2011 o Costco Australia expands nationally with the opening of two warehouses: o Costco Auburn, in Sydney's West, opened 21 July, 2011. o Costco Canberra, opened 22 July, 2011.