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Costco Craze: Inside the Warehouse Giant - CNBC Original Documentary

CNBC TV examines how a no-frills warehouse chain "Costco" transformed itself into a cultural icon and a runaway success. Costco is famous for turning the experience of warehouse shopping into an adventure. Costco, one of the nation's top three retailers and the world's largest membership warehouse chain, has thrived by turning convention on its head. The company never advertises, charges its 64 million members to shop there and doesn't mark up any product more than 15 percent. It's a business model that works, generating $93 billion in annual sales. Correspondent Carl Quintanilla shows how Costco has grown to 600 stores, attracting loyal and affluent customers. They return repeatedly for the treasure-hunt thrill of constantly changing inventory, including diamond rings, steaks, wedding dresses and caskets. This CNBC Original documentary also explores a "Costco Effect", the routine tendency of its members to succumb to the store's discount-chic allure and spend more than they expect, often buying more than they need.

Costco Wholesale Corp. video

Costco Craze: Inside the Warehouse Giant - CNBC Original Documentary

Costco Wholesale Corp. video

Costco Co-Founder & Fmr CEO Jim Sinegal Remarks at 2012 Democratic National Convention

Costco Wholesale Corp. video

Costco's Extraordinary Advantage


W. Craig Jelinek, President and CEO
Craig Jelinek assumed the position of President, Chief Operating Officer and Director in February 2010. Prior to being named President by the Board of Directors, he held various senior management positions in Operations and Merchandising, including the position of Executive Vice President and COO of Merchandising since 2004. Prior to joining the Company in 1984, Mr. Jelinek held various management positions with Fed-Mart and Gemco.
Richard A. Galanti, Executive Vice President, Chief Financial Officer
Richard A. Galanti has been a director of the Company since January 1995, and Executive Vice President and Chief Financial Officer of the Company since October 1993. He was Senior Vice President, Chief Financial Officer and Treasurer of the Company from January 1985 to October 1993, having joined as Vice President-Finance in March 1984. From 1978 to February 1984, Mr. Galanti was an Associate with Donaldson Lufkin & Jenrette Securities Corporation.
Joel Benoliel, Senior Vice President, Administration & Chief Legal Officer

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