Club store operator Costco has unveiled plans to increase the pace of its store openings in the Australian market over the next three years.
The company, which opened its first Australian store in Melbourne last summer, said that it will likely open between five and six new warehouse style outlets during the coming three years.
Addressing analysts following the company’s recent results announcement, Costco chief financial officer Richard Galanti said that the group was focused on driving growth of its operations in the Asia-Pacific region as a whole.
The company has witnessed growth at its international business outstrip that of its domestic operations, prompting the group to look overseas to fuel growth.
”We are ramping up some of our international a little bit,” Galanti confirmed.
According to a report in the Sydney Morning Herald, Costco’s Australian MD Patrick Noone confirmed that the company has the capacity to open around two stores a year over a three year period.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData“I hope we can do that,” he commented.