"High hope is that we might have something open, but it's probably two or three years away." The bulk of Costco's international stores are in Canada and Mexico, where it operates 68 units and 28 units, respectively. The retailer also has 18 UK stores, as well as five each in Japan and South Korea and one in Taiwan.

Domestically, Costco is only planning two or three new markets over the next 50 store openings, Galanti says. Overall, the company has 350 units in the US and Puerto Rico.

During the next fiscal year, which starts in August, Costco management plans about 35 new store openings, just above the number planned for the current year. Seven new stores opened in its third and latest quarter, which ended May 7.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.