National Jeweler's $100 Million SuperSellers 2012

9. COSTCO WHOLESALE CORP.
999 Lake Drive, Issaquah, WA 98027
Phone: 425-313-8100  Fax: 425-313-8114
Web site: www.costco.com

Warehouse club
Fiscal year ended: 8/28/11
U.S. retail jewelry and watch sales (estimated):
$525,000,000 (2011)
$500,000,000 (2010)
Change in U.S. jewelry and watch sales: 5%
Total sales (worldwide):
$87,048,000,000 (2011)
$76,255,000,000 (2010)
Change in total sales: 14%
Jewelry and watch sales: 1%

U.S. jewelry departments:
429 (2012)
424 (2011)
Projected U.S. openings in 2012: 4

Key executives:
Craig Jelinek – President/CEO
Richard A. Galanti – Executive VP/CFO
Douglas Schutt – Executive VP/COO, Merchandising
Karla Jones – Jewelry Buyer

Last year was a strong one for Costco, with the company posting double-digit sales gains. However, the warehouse club retailer was more conservative with its expansion than in previous years, with only five new stores since last year’s listing and four additional planned for this year. Although jewelry is a small category for Costco, it also has been a bright spot. Costco is one of the largest U.S. retailers of diamond jewelry, including high-end pieces. Last year, the company said it sold 103,000 carats of diamonds, up from 84,000 carats the previous year. This included a 6.17 ct. round brilliant diamond ring for $185,000, a 2.36 ct. round brilliant diamond ring for $63,000, and a 3.51 ct. round brilliant diamond ring for $60,000.