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James D. Sinegal (born January 1, 1936) is an American billionaire businessman and cofounder and former CEO of the Costco Wholesale Corporation, [1] an international retail chain. He served as Costco's president and CEO from 1983 until 2011. As CEO of Costco, Sinegal was known for his hands-on humanitarian approach to business, which he learned ...
Costco membership card from Iceland. Costco's earliest predecessor, Price Club, opened its first store on July 12, 1976, on Morena Boulevard in San Diego, California.It was founded three months earlier by Sol Price and his son, Robert, following a dispute with the new owners of FedMart, Price's previous membership-only discount store. [14]
In 1982, Brotman cofounded Costco Wholesale Corporation with Jim Sinegal, [6] a protégé of Sol Price, the founder of PriceSmart. [1] He served as chairman from the company's inception until his death, except during a stretch from 1993 to 1994 when he was vice chairman. [7] [8] In 2017, Costco operated 736 warehouse stores. [3]
Costco claims 116.6 million cardholders, and its members are famous for their fierce loyalty to the brand. According to Fortune, Costco enjoyed a 91% membership renewal rate in 2021.
In love with retail since his first job as a bagger in 1954, Jim co-founded Costco, and served as president and CEO of the retail giant from 1983 until his retirement in January 2012. Costco is ...
Join The Motley Fool for a conversation with retired Costco CEO Jim Sinegal. In love with retail since his first job as a bagger in 1954, Sinegal co-founded Costco and served as president and CEO ...
In 1982, the discount pioneer John Geisse founded The Wholesale Club of Indianapolis, which he sold to Sam's Club (a division of Walmart) in 1991. [2] In 1983, James (Jim) Sinegal and Jeffrey H. Brotman opened the first Costco warehouse in Seattle. [3] [4] Sinegal had started in wholesale distribution by working for Sol Price at FedMart. [5]
In love with retail since his first job as a bagger in 1954, Sinegal co-founded Costco and served as president and CEO of the retail giant from 1983 until his How Costco Keeps an Eye on ...