Costco Steps Up Openings

ISSAQUAH, WA-Costco Wholesale Corp. executives plan more than 30 new unit openings in 2006, more in a single 12-month period than they have for years. This year, for example, the company opened 16 warehouse clubs, bringing its current total to 471 internationally.

“We feel more confident about it this year than we have in the last couple of years,” said Richard Galanti, the company’s executive vice president and chief financial officer, during Costco’s Q1 conference call. During the quarter, which ended Nov. 30, Costco opened a total of nine new stores, eight in the US and one in Mexico.

Next year’s fourth quarter will see the most store growth, when 14 new units are planned. Two are planned for the second quarter and about six are to opening the following period.