August 21, 2019
Issaquah-based Costco Corp. envisions opening 21 to 22 warehouses annually, including roughly 75% of that expansion occurring internationally. Over the next few years, that number will settle in around 50% for international stores and 50% in the U.S., according to the Food Institute Report.
A recent call with analysts revealed membership renewal rates are more than 90% in the U.S. and Canada overall. The retailer sees opportunities for growth in Asia and Western Europe.
Costco is set to open its first warehouse in Shanghai, China this month, and says 60,000 paid members have already signed up. Another warehouse is planned to debut in China in roughly two years. Executive memberships were recently rolled out in South Korea, with Japan and Taiwan expected to follow. The retailer operates 768 warehouse stores, including 523 in the U.S.
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