US wholesaler Costco plans to enter Spain next spring, its eighth overseas market.

Costco is aiming to open two stores in Spain “next spring and summer”, CFO Richard Galanti said today (9 October).

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

The entry into Spain forms part of Costco’s plans to “ramp up” its store openings in the wholesale’s new financial year, Galanti added. Costco plans to open 36 outlets across the US and overseas, compared to 26 last year.

The plans were announced as Costco booked a 19.3% increase in net income to US$2.04bn for the year to 1 September. Operating income grew 10.7% to $3.1bn. Revenue was up 6% at $102.9bn.

Fourth-quarter earnings were up but came in below analyst estimates, according to a poll by Thomson Reuters.

Nevertheless, shares in Costco were up 2.12% at $114.59 at 16:00 ET.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Food Excellence Awards - The Benefits of Entering

Gain the recognition you deserve! The Just Food Excellence Awards celebrate innovation, leadership, and impact. By entering, you showcase your achievements, elevate your industry profile, and position yourself among top leaders driving food industry advancements. Don’t miss your chance to stand out—submit your entry today!

Nominate Now