In the recent conference call at the end of their 2010 Q1, Costco’s CFO Richard Galanti talked about Costco’s big plans for expansion in 2010 and beyond. So, all of you that have been posting about getting a new Costco in your area might just be in luck in coming years.
Currently, Costco operates 566 warehouses, including 413 in the United States and Puerto Rico, 77 in Canada, 21 in the United Kingdom, 7 in Korea, 6 in Taiwan, 9 in Japan, 1 in Australia and 32 in Mexico. Beginning in 2010 Costco has plans to open 16 to 18 new stores, with 13 to 14 of them in the United States. According to Galanti, the number of new locations will grow to the low-20s by 2011 or 2012, and the high-20s in subsequent years.
And even though Costco did open a smaller-sized location just recently in Manhattan, other urban areas might not want to hold their breath on getting one too. It’s costly to build in those areas, especially when you consider the parking situation. Recently, Costco turned down an opportunity to build a smaller store in Atlanta because of the added expense of building a double-decker parking structure.
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