The Rotary Club of Dunwoody has set a goal of learning more about the businesses and vocations of its members, one of the original purposes of the organization when it was founded in 1905.
Members recently heard from Todd Galanti, a Dunwoody Rotarian and a 1997 graduate of Dunwoody High School, who serves as warehouse manager for the Dunwoody Costco. Having just returned from Costco’s annual managers meeting in Seattle, Galanti provided up-to-date facts and figures about Costco and its competitors.
He reported Costco had corporate total sales of $149 billion in the past year and has a work staff of 245, 000 employees. The company will be opening a store in China in two weeks. Costco’s profits are derived from membership fees, he said, not from the sale of their goods and services.
The average age of the members is 53, and their inventory of 3,800 items turns over every month. Kirkland, Costco’s own brand is the No. 1 selling brand, and Coca Cola is No. 2.
Galanti asked for a show of hands of those who have used their car dealership, car rental business, travel agency, photo center or bought gas.
Why is Costco bucking the brick and mortar trend? The perception, Galanti said, is that Costco is honest, clean and values its connection with people. Investment in its employees who have job security is also a key to success of the company.
Galanti added that Costco also has commendable community relations. Last year the company gave $43,000 in donations, 324,000 backpacks, and provided 2,534 volunteer readers in schools.
The company’s success is a direct result of their staying true to their mission and code of ethics, which includes “continual provision of quality goods and services at the lowest prices,” he said.
Costco will open 20 new locations in 2020.