The History of Costco
DeAna Castro
Wilmington University Abstract
Costco is a members only, international retail chain discount warehouse.

An abstract is a summary of the paper that should be 250 words or less. It is not the same as the introduction. This will be the only paragraph in your essay that is NOT indented. It often contains topic, methods of research, discussion of literature, and conclusions. Please ask your instructor what he or she wants to see. The History of Costco The history of Costco began in July of 1976 in San Diego California and its name was Price Club. It was cofounded by Sol and Robert Price. The newly designed business was the first ‘warehouse’ business of it’s kind. This retail business originally targeted other business owners, but blended retail and wholesale. Price Club had unbeatable low prices and sold bulk items. Three years later, 1979, Price Club expanded two new locations. They acquired 200,000 members and profited 1 million dollars. Despite the loss of profits the first year, Price Club’s expansion proved profitable. Jim Sinegal is a key player to the success of Costco because he started his career being mentored by Sol Price. He worked in the warehouse business at Price Club and another warehouse business called Fedmart. (Cardon). 1983, Jim Sinegal and Jeff Brottman would open their own warehouse club near Seattle Washington, and it was called Costco Wholesale (Daft, 2012 pp. 605). One year later, they expanded to nine warehouses in five states. By the year 1984, Price Club sales would be greater than one billion dollars and is the first company to achieve this mark in a six year period. Almost ten years later, Costco and Price Club would merge and become PriceCostco. This merge was nicely matched because they were very similar in business model and size. Combined companies