BUAD441 Chapter Notes - Chapter 244-263: James Sinegal, Warehouse Club, Costco
25 Oct 2016
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Costco wholesale in 2012: mission, business model, and strategy. Jim sinegal, ceo & co-founder of costco: driving force behind costco"s march to be the 3rd largest retailer in us, 7th largest in the world, leader of discount warehouse & wholesale club segment of north. America retail industry: good to employees, greets them when he goes visit a store. 598 in 40 states and puerto rico (433 locations) 32 warehouses in mexico thru a 50% joint-venture. 25 mil households and 6. 4 businesses had membership generated 1. 9 billion in membership fees. Annual sales/store: 146 million 85% higher than sam"s club (competitor) increased in sales from 2010 to 2011 (76,255 to 87,048) Back when jim worked for sol price (founder of price club), he improved store ops, keeping operating costs and overhead low, stocking items that moved quickly, charging really-low prices that kept customers coming back. Became 1st ever us company to reach 1 billion in sales in less than 6 years.
