The following highlights are based on Costco's fiscal year• 1976o Sol & Robert Price raise $2.5 million from friends and family to open Price Club on July 12th, the first warehouse club for business shoppers only. The warehouse was located in a remodelled airplane hangar on Morena Boulevard in San Diego, California.• 1979o After a $750,000 loss the first year of operation, Price Club now has two locations, 900 employees, 200,000 members, and a profit of $1 million dollars.• 1980o The Price Company offers public stock on July 12th.• 1982o Jeff Brotman and Jim Sinegal meet and draw up plans to start a new wholesale club business.• 1983o The first Costco warehouse opens in September in Seattle, Washington.o By the end of the year two, additional locations had opened in Portland, Oregon and Spokane, Washington.• 1984o The fourth Costco warehouse opens in Salt Lake City, Utaho By calendar year-end, there were nine Costco's in five states, serving over 200,000 members.o Price Club sales exceed $1 billion.o The Price Company stock splits 2-for-1 on June 13th.• 1985o Costco offers public stock on December 5th.o Costco's first hot dog cart opens. The price for a hot dog and a soda is $1.50.o Costco opens it's first Canadian warehouse in Burnaby, British Columbia.• 1986o Price Club is 10 years old and is named the Forbes Magazine's "Best Managed Company".o The company has 22 locations, 3.2 million members, and 7,294 employees.o Costco is three years old and has 17 locations, 1.3 million members, and 3,740 employees.o Costco's first Pharmacy opens in Portland, Oregon and the Tukwila, WA warehouse becomes the house of the company's first fresh meat department.o The Price Company Stock splits 2-for-1 on February 4th.• 1987o Costco opens it's first produce and bakery departments.o Both Price Club and Costco open their first Optical Labs.• 1988o Costco closed Mid West Division and focused on East & West Coast markets.• 1989o Costco begins the year with 46 warehouses in operation.o The Price Company is the third most profitable company in the United States.o The first 1-Hour Photo opens in the Chula Vista warehouse in December.• 1991o Costco Stock splits 2-for-1 on May 16th.• 1992o The first Price Club in Mexico City opens.o Costco's stock splits 3-for-2 on March 9th.o In December Costco opens it's 100th warehouse in Miami Lakes, Florida.• 1993o Costco celebrates its 10th anniversary in September.o Shareholders approve the merger of Price Company and Costco.o PriceCostco is formed and opens its first warehouse in the United Kingdom in West Thurrock, Essex, England• 1994o The first Asia Costco opens in Seoul, Korea.o First Hearing Aid Center opens.o Price Enterprises spin-off in December.• 1995o The 200th location opens in Wenatchee, Washington.o The first gas station opens in Tucson, Arizona.o Kirkland Signature, Costco's exclusive private label, is introduced.• 1997o The company officially changes it's name from PriceCostco to Costco Companies, Inc.o The first Taiwan Costco opens in Kaohsiung.o Executive Membership is introduced.• 1998o Costco opens five locations in Detroit, Michigan on the same day.o E-Commerce at Costco.com brings Costco prices and services to the internet.• 1999o The first Japan warehouse opens in Hisayama.o Special order kiosk introduced.o The Costco American Express co-branded membership credit card is introduced.o The average annual sales per warehouse reaches $100 million.o The Company changes it's name to Costco Wholesale Corporation on August 30th.• 2000o The 2% reward program is initiated, increasing Executive Member value even more.o Costco opens its Travel Business.o Costco's stock splits 2-for-1 on January 14th.o Costco opens two locations in Texas.• 2001o In July, the Company celebrates its 25th anniversary.o Costco consolidates it's Canadian operations to a new regional office in Ottawa, Ontario• 2002o Costco enters Kansas and Indiana bringing the total number of states with operations to 36.o Costco enters Puerto Rico with two units opened in November 2001.o Costco finishes the fiscal year with 40.5 million cardholders and 98,000 employees worldwide.o The Costco hot dog and soda is still priced at $1.50• 2003o Costco Home opened in Kirkland, WA in December 2002.o Costco.com generated sales of $226 million.o Average annual sales per warehouse was $105 million.o 24 new Costco locations were opened• 2004o True Earnings credit card from Costco and American Express is introduced.o Costco is the 5th largest retailer in the U.S. and 11th largest in the world.o Fortune Magazine lists Costco 29th on the Fortune 500.o Costco Enters Iowa bringing the total number of states with operations to 37.• 2005o Costco opened second Home store in Tempe, AZ in October 2004.o Costco.ca (equivalent of Costco.com in the U.S.) is launched for Canadian members in February 2005.o 25 warehouses exceed annual sales of $200 million, with one warehouse that exceeded $300 million.o 63 million hot dog & soda combinations were sold.o Over 57,000 vacation packages were booked through Costco Travel.• 2006o Costco opened it's first car wash facility at Seattle, WA on April 26, 2006.o Costco was named one of the "most admired" companies by Fortune magazine.o Costco Optical Center received the National Vision Retailers award for highest customer satisfaction from J.D. Power and Associates.o Introduced over 200 generic prescription medications in a 100 ct. for $10 or less.o Opened 27 new locations (US - 20, CN - 3, UK - 2, MX - 2) for a year-end total of 487.o Over 30 million rotisserie chickens were sold company wide.• 2007o The typical Costco location generated sales of $130 million.o Costco was named one of the "most admired" companies by Fortune Magazine for a second consecutive year.o 550 Costco employees graduated college.o The current annual dividend is $.58 per share.o Costco.com exceeds $1 billion in sales on the year.• 2008o Costco opens office in Sydney, Australia. • 2009o Costco opens first warehouse in Melbourne, Australia. • 2011o Costco Australia expands nationally with the opening of two warehouses:o Costco Auburn, in Sydney's West, opened 21 July, 2011.o Costco Canberra, opened 22 July, 2011.• 2013o Costco opens two warehouses a day apart in Melbourne and Sydney in November.• 2014o Costco expands into Brisbane and Adelaide, bringing the number of warehouses to seven.
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