The first idea for a so-called retail warehouse club can be traced back to 1976 in San Diego, California. A single airplane hangar served as the location for a new company called the 'Price Club'. Seven years later, in Seattle, Washington, the first Costco appeared. Ultimately, the two would merge and settle on one name to lead them into the future of membership-based wholesale shopping, Costco. Today, the company has 617 warehouse stores and earns over $112 billion in annual revenue.
Costco is dedicated to being more than a company that exists in a community. It truly seeks to be a part of the community. The company donates to local charities and even offers scholarships to outstanding students. Costco is also a strong advocate of business ethics and encourages vendors to contact its offices in the event someone is not acting in an ethical manner.
What makes Costco unique?
Now part of the Costco legacy, the Price Club truly began an industry all on its own. The idea for selling food and other items wholesale, directly to consumers was entirely novel in 1976.