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Costco Wholesale Corporation is an American multinational corporation which operates a chain of membership-only big-box warehouse club retail stores. [5] As of 2021, Costco is the third-largest retailer in the world . [ 6 ]
By 1992, Sam's Club had surged past both Price Club and Costco to become the industry leader with 222 warehouse clubs. [7] The four other major players were Pace (95 clubs), Costco (87 clubs), Price Club (80 clubs) and BJ's (31 clubs). [ 7 ]
Sinegal's innovations made Costco the first "warehouse club" to include fresh food, eye-care clinics, pharmacies, and gas stations in its mix of goods and services. [3] Sinegal was a protégé of Sol Price, widely considered to be the "father" [5] of the "warehouse club" concept.
Price Club was an American warehouse club chain. Founded in 1976, it merged with its competitor, Costco Wholesale , in 1993. The original Price Club warehouse in San Diego, California , is now Costco location number 401.
Sol Price (January 23, 1916 – December 14, 2009) was an American retailer and the founder of FedMart, Price Club (which ultimately merged into Costco) and PriceSmart. [1] He was considered the "father" of the "warehouse store" retail model. [2]
Costco: Cash & Carry/Warehouse Club 166,761 2.4%: Issaquah United States: 4 Schwarz Gruppe: Discount store 167,200 ... Neckarsulm Germany: 5 The Home Depot: Home improvement 132,110 9.7%: Atlanta United States: 6 The Kroger Company: Supermarket 131,620 2.0%: Cincinnati United States: 7 Walgreens Boots Alliance: Drug store/Pharmacy 117,705 0.3% ...
A few years ago it was known that one-fifth of the warehouse club's stores are turned over to its private Kirkland Signature label, but the products account for 31% of total sales as of 2021. One ...
When membership is required, discount superstores are known as warehouse clubs, and often require purchases of larger sizes or quantities of goods than a regular superstore. The main national chains, both of which have operations outside the U.S., are Costco and Sam's Club .