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Costco co-founder Jim Sinegal to receive NRF’s Gold award

January 09, 2014 (United States Of America)

The National Retail Federation is pleased to announce that Jim Sinegal, Costco co-founder and board member, will receive the Gold Medal Award in 2014 during Retail’s BIG Show. Additionally, NRF has named South Korea’s Lotte Shopping as the International Retailer of the Year. Mr. Shin Heon, president and CEO of the company, will accept the award.

Nike, Inc. has been named Retail Innovator of the Year, and Half Price Books’ Chief Strategy Officer Kathy Doyle Thomas has been selected as 2014’s Silver Plaque recipient.

The award winners are selected each year by members of the NRF Board who comprise its Award Committee. The recipients, two distinguished industry leaders and two renowned retail companies, will accept their awards during the Annual Retail Industry Luncheon at NRF’s Annual Convention and EXPO on Monday, January 13, 2014. The BIG Show will be held at the Jacob Javits Center in New York City, January 12-15, 2014.

“Jim was an obvious choice for NRF’s Gold Award, given his commitment to the industry and Costco, and dedication to creating such a well-respected culture throughout the organization he helped build,” said NRF President and CEO Matthew Shay. “All of the award winners have successfully been able to cut through the clutter and make an outstanding name for themselves by continuing to innovate and effectively serve their customers in an ever-changing world.” 

Gold Medal Award: Jim Sinegal, co-founder and board member, Costco

The Gold Medal is the most coveted award in retail, given to an individual who has served the industry with distinction and achieved a national reputation for excellence. The recipient has also displayed creative genius and inspirational leadership and has won the respect of fellow merchants for devotion to the retail craft.

This year’s recipient of the Gold Medal Award is Jim Sinegal, co-founder and board member of Costco.  As co-founder, Sinegal served as president and chief executive officer of Costco from its inception in 1983 until 2012 and remains on Costco’s Board of Directors. During his tenure as president and chief executive officer, Costco became the top warehouse-club retailer in the nation, with 645 stores operating in 42 states, Puerto Rico and nine countries, and sales of $103 billion.

Prior to joining Costco, Sinegal served as executive vice president for the Price Company. He started his career in retail with Fed-Mart Corporation as a store bagger, eventually climbing the ranks to serve as executive vice president, overseeing merchandising and operations.

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