The company's first location, opened in 1976 under the Price Club name, was in a converted airplane hangar on Morena Boulevard in San Diego.
Originally serving only small businesses, the company found it could achieve far greater buying clout by also serving a selected audience of non-business members. With that change, the growth of the warehouse club industry was off and running. In 1983, the first Costco warehouse location was opened in Seattle. Costco became the first company ever to grow from zero to $3 billion in sales in less than six years. When Costco and Price Club merged in 1993, the combined company, operating under the name PriceCostco, had 206 locations generating $16 billion in annual sales, and now has 432 locations
Jim Sinegal founded Costco Wholesale Club in 1983 and has been Costco's president and chief executive since 1993.
Costco began its online presence in 1995 with an informational Web site and in November 1998 began conducting e-commerce at costco.com. The Web site offers a wide selection of name-brand merchandise and services. Some of the product categories include computers, electronics, floral delivery, jewelry, books, CDs, DVDs, travel and pharmacy.
Costco - One of the fastest-growing companies in the history of American business, has plenty of room for growth. Its business model is fantastic, all customers want to find great bargains and Costco is setup to keep the customer coming back to find them.