Costco's Plans For Expansion
Costco Wholesale Corp. has big plans for the coming year. The company plans to open between approximately 27 and 30 warehouses, with just under half of the openings in the United States.
Richard A. Galanti, Executive Vice President and Chief Financial Officer, stated in a recent conference call to discuss financial results for the year and fourth quarter, "During the first four months of fiscal 2013, basically September through calendar year end here, we plan to open 14 new locations, almost the same number of new locations we opened in all of last year."
Nine locations will be situated in the U.S., with three in Canada, one in England and one in South Korea. Costco opened sixteen locations in Fiscal 2012 that ended September 2, 2012. Ten locations were in the U.S., four were in Japan, one was in Korea and one was in Taiwan. Additionally the company had one relocation in Ontario, Canada
Mr. Galanti, also stated, "Given our history over the last several years of under-opening locations, I think we feel very good about this coming year."
Costco Wholesale Corp.