Overview Costco Wholesale Corporation is one of the largest retailers selling top quality national and regional brands at substantially lower prices, often at very high volume. They offer discount prices on an average of about 3,700 products. Its’ wide selection of merchandise includes groceries, candies, alcoholic and non-alcoholic beverages, cleaning supplies, appliances, electronics, health and beauty aids, hardware, automotive supplies, furniture and apparel. In addition, the company also provides optical laboratories, special food packaging, meat processing and jewelry distribution services. Costco Wholesale Corporation is publicly traded on the NASDAQ, under the symbol “COST”. As of February 2018, it has 748 warehouses, worldwide. Among them there is 98 locations in nine Canadian provinces. Costco was the first company to grow from zero to $3 billion in sales in under six years. …show more content…
The first Costco warehouse opened in 1983 by James Sinegal and Jeffrey Brotman in Seattle, Washington. Later in 1993 both Costco and Price Club merged to become PriceCostco. At that time, it had 206 locations generating $16 billion in annual sales. Today, it has become one of world’s biggest retailer. Recent events When looking at the recent news and events there is some significant changes happened on March 2018. At the beginning of the month, Costco has reported a 10.8 % rise in their quarterly revenue because of the higher membership fees. And then later, there stock price target has been cut by both RBC capital and J.P morgan. During last year they have expanded their delivery through Florida and shipt partnership. Financial