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Costco Report 2012

In: Business and Management

Submitted By bry0
Words 4710
Pages 19
Professor: Wayne Forrester
Class: Business 481
Semester: Fall 2012
Section: E

Company Report: Costco 1. Dameon Jame Background 2. Chandra Willie Mission/Code of Ethics 3. Brian Sanichar Strategy 4. Gopal Mohan Marketing Strategy 5. Anwar Rahman Financials 6. Airon Melo Financials/Competition 7. Sohani Somai Current Status of Costco 8. Kyle Hecter Recommendations

Dameon James Background
Costco Wholesale Club wasn’t always the wholesale club company that generated $71 billion dollars in 2008 as well as having 544 warehouses in 40 states; Like any other company, Costco was a blueprint waiting to dominate the wholesale industry. The Person that came up with the membership warehouse concept was Sol Price. The very 1st price club per say was conducted in San Diego California on Morena boulevard at an airplane hangar in 1976. Sole Price started to experiment with discount retailing called Fed-Mart and that is where future CEO Jim Sinegal got his start as he was employed at the fed-mart loading mattresses earning only an abysmal $1.25 an hour while attending San Diego Community College at the same time. Soon after that, Price decided to sell away fed-mart to focus more on his new empire, which was the San Diego Price Store in which Jim Sinegal tailgated with him to help him build that empire. This proved to be a successful move as within the next few years, the Sol Price club stores rose to the top of the list as the number one leader in member warehouse retailing and the most intriguing thing about this is that it has gained success by mainly operating in the west coast. As Price was figuring ways to maintain success and gain more profit. One of the strategies was realizing that since local small business members needed the products at reasonable prices, Price figured that he can have a surplus in sales as well as gaining…...

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