Posting ads for 8 years
Costco is headquartered in Issaquah, Washington, United States and was founded in Kirkland, with its flagship warehouse in nearby Seattle. Costco's Canadian operations are based in Ottawa, Ontario.
The Costco in Moncton, New Brunswick was branded as a Price Club upon its completion in 1995. Two years later it was re-branded as Costco Wholesale due to the merger between Price Club and
Founded by James Sinegal and Jeffrey Brotman, Costco opened its first warehouse in Seattle, Washington, on September 15, 1983. Sinegal had started in wholesale distribution by working for Sol Price at both FedMart and Price Club. Brotman, an attorney from an old Seattle retailing family, had also been involved in retail distribution from an early age.
In 1993, Costco merged with Price Club (called Club Price in the Canadian province of Quebec). Costco's business model and size were similar to those of Price Club, which was founded by Sol and Robert Price in 1976 in San Diego, California. Thus, the combined company, PriceCostco, was effectively double the size of each of its parents. Just after the merger, PriceCostco had 206 locations generating $16 billion in annual sales. PriceCostco was initially led by executives from both companies, but then Sol and his son Robert Price founded Price Enterprises and left in 1994.
Prior to the 1993 Price merger, Wal-Mart founder Sam Walton wanted to merge Sam's Club with Price Club.
The very first Price Club location was an old airplane hangar, previously owned by Howard Hughes, and is still in operation today (Warehouse #401 San Diego).
In 1997, the company changed its name to Costco Wholesale.