Costco Wholesale Corporation operates an international chain of membership
warehouses, mainly under the "Costco Wholesale" name, that carry quality,
brand-name merchandise at substantially lower prices than are typically found
at conventional wholesale or retail sources. The warehouses are designed to
help small- to medium-sized businesses reduce costs in purchasing for resale
and for everyday business use. Individuals also may purchase for their
personal needs.
Costco warehouses present one of the largest and most exclusive product
category selections to be found under a single roof. Categories include
groceries, candy, appliances, television and media, automotive supplies,
tires, toys, hardware, sporting goods, jewelry, watches, cameras, books,
housewares, apparel, health and beauty aids, furniture, office supplies and
office equipment. Costco is known for carrying top-quality national and
regional brands, with a 100% satisfaction guarantee.
Members also can shop for private label Kirkland Signature™ products, designed
to be of equal or better quality than national brands, including juice,
cookies, coffee, housewares, luggage, clothing and detergent. The Company also
operates self-service gasoline stations at a number of its U.S., Canada,
Australia, Japan, United Kingdom, Spain, Mexico, Taiwan, and Iceland
locations.
Additionally, Costco Wholesale Industries, a division of the Company, operates
manufacturing businesses, including special food packaging, optical
laboratories, meat processing and jewelry distribution. These businesses have
a common goal of providing members with high quality products at substantially
lower prices.
According to Craig Jelinek, the Company's CEO and director,
"Costco is able to offer lower prices and better values by eliminating
virtually all the frills and costs historically associated with conventional
wholesalers and retailers, including salespeople, fancy buildings, delivery,
billing and accounts receivable. We run a tight operation with extremely low
overhead which enables us to pass dramatic savings to our members."
Costco is open only to members and offers three types of membership:
Executive, Business and Gold Star. Executive Members receive additional
savings on Costco Services such as auto and home insurance, Costco Auto
Program, check printing, identity protection, payment processing and bottled
water delivery. Executive Members in the U.S earn an annual 2% Reward (up to
$1,000) on qualified Costco purchases. (Terms, conditions and exclusions
apply. See the membership counter for details.) All types of membership
include one free Household Card. Costco membership cards are accepted at
Costco locations worldwide and online at Costco.com.
Business Members qualify by owning or operating a business, and pay an annual
fee ($60 in the U.S.) to shop for resale, business and personal use. This fee
includes one free Household Card. Business Members may purchase additional
membership cards ($60 each) for partners or associates in the business.
Gold Star Members pay a $60 annual fee (in the U.S.), to shop for personal
use. Individuals who don’t own a business may sign up for a Gold Star
Membership. This fee includes one free Household Card.
Costco warehouses generally are open seven days a week for all members.
Costco is a Washington corporation, publicly traded under the Nasdaq ticker
symbol "COST", with its home office in Issaquah, Washington.
A more complete description of the Company and its business is contained in
the Company's periodic filings with the Securities and Exchange Commission.
Key Information
Number of warehouses:
|
876 (as of 3/14/24)
|
|
|
Areas of operation:
|
604 locations in 47 U.S. States & Puerto Rico;
108 locations in nine Canadian provinces;
40 locations in Mexico;
33 locations in Japan;
29 locations in the United Kingdom;
18 locations in Korea;
15 locations in Australia;
14 locations in Taiwan; 6 locations in China;
4 locations in Spain;
2 locations in France;
1 location in Iceland;
1 location in New Zealand;
1 location in Sweden
|
|
|
Membership Data (as of 2/18/24):
|
130.0 million cardholders
73.4 million households
|
|
|
|
|
Warehouse sizes:
|
80,000 to 231,000 square feet
(average 147,000 square feet)
|
|
|
|
|
Annual net sales
(FY23 - Ended 9/03/23):
|
$237.7 billion
|
|
|
|
|
Fiscal year end:
|
Sunday closest to August 31
|
|
|
Number of U.S. employees:
|
206,000 full and part-time
|
|
|
Number of employees (worldwide):
|
316,000 full and part-time
|