Costco Wholesale Corporation is made up of over 500 warehouses worldwide that offer customer discounts without the embellishments of sales staff and ornately decorated yards. At present, Costco is the largest subscription warehouse chain in the United States, and as of 2009, it is considered the third largest retailer in the United States and the ninth largest in the world. The first Costco Wholesale store opened its doors on September 15, 1938 by James Sinegal and Jeffery Brotman in Seattle, Washington. Costco has since expanded to locations around the world, including the United Kingdom, Canada, Australia, Mexico, Taiwan, South Korea, Japan and the United States. Costco currently brings in more than $70 billion in revenue generated by a workforce of 142,000 full- and part-time employees and has approximately 55 million members. In 1993, Costco merged with Price Club and started a rebranded venture called PriceCostco, led by executives from both companies. However, Price Club executives left the company in December 1994. In 1997, the company changed its name to Costco Wholesale and promptly rebranded all existing Price Club locations. Costco's main competitors are other large warehouse retail centers Sam's Club and BJ's Wholesale club. Although Sam's Club has many more warehouses, Costco maintains a significantly higher overall sales volume. Costco was the first company to increase sales by $3 billion in less than six years and, unsurprisingly, ranked 25th on the 2010 Fortune 500. Costco's mission is simple; continuously provide members with quality goods and services at the lowest possible prices. To do this, Costco conducts its business with the following... middle of paper... itself towards its employees, treating them much better than any other competitor and this shows that Costco's largest operating costs are its employees cost . Costco encourages promotion within the company by always hiring from within and supporting positions with training. They provide their employees with a wide range of healthcare benefits for both full-time and part-time employees. Include 401k investment options, which Costco matches 50% of the first $1,000, and put additional money into the 401k for years of service provided. Finally, Costco offers competitive wages averaging $17 per hour including bonuses twice a year, also weighted by years of service. Because Costco makes employee satisfaction a top priority, most employees stay with the company. This benefits Costco by allowing them to retain highly skilled, happy, and productive workers.