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American Express Co

    * 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.

Address      American Express P.O. Box 981540 El Paso, TX 79998-1540
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