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Costco Wholesale Corporation is the largest membership warehouse club chain in the world, and the fifth largest general retailer in the United States.
Costco strives to provide their members with quality goods and services at the lowest possible prices. In Rancho Cordova, Costco Wholesale is located at 11260 White Rock Rd.
HISTORY
The company's first location opened in 1976 under the name Price Club. Originally serving only small businesses, the company found it could achieve far greater buying clout by also serving non-business members. With this change, the growth of the warehouse club industry began. In 1983, the first Costco warehouse location was opened in Seattle, Washington. Costco became the first company ever to grow from zero to $3 billion in sales in less than six years. Costco and Price Club merged in 1993, with 206 locations generating $16 billion in annual sales.
COSTCO TODAY
Today, Costco Wholesale is one of the largest retailers in the United States, with 556 locations generating $71 billion annually and employing 142,000 people. Costco keeps its prices so low by cutting overhead costs, selling private label and branded merchandise, being open to Costco members only, and selling very large volumes of merchandise to achieve a high inventory turnover. The result is Costco's offering of quality goods and services at the lowest possible prices.
MEMBERSHIP
Costco offers three levels of membership: Gold Star, Business, and Executive. Gold Star membership is available for individuals who want to purchase products mainly for personal use and requires a $50 fee. Business membership is available for business owners and managers. It allows the purchase of products for business, personal, and resale use. Business members may also add up to six additional cardholders to their account, and are required to pay a $50 fee. Executive membership is the highest level of membership available at Costco. All Executive members enjoy a 2% reward on most Costco purchases, as well as additional benefits and greater discounts on the suite of Costco services. Executive membership requires a $100 fee.
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