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Video: Costco founder Jim Sinegal on the company’s most important customer

Is Costco (Nasdaq: COST) a retail company or a membership company? It does both, selling goods at wholesale prices while also charging its patrons an annual membership fee.

But Jim Sinegal, founder, chairman, and former longtime CEO of Costco, says there’s no question that at its core, it’s a retailer. Last month, The Motley Fool’s own founder and CEO, Tom Gardner, ventured to a Costco warehouse in Florida for a conversation with Sinegal on business, leadership, and company culture. In the clip below, Sinegal explains its retailing roots, and who its most important customers are.

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The Motley Fools purpose is to help the world invest, better. Take Stock is The Motley Fool’s free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. Click here now to request your free subscription, whilst it’s still available. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

A version of this article, written by Motley Fool Staff, originally appeared on fool.com

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