The company will open a net of 33 to 38 new units next year, compared with 30 new stores for 2007. The chain also plans eight to 10 relocations in the coming year.
"A couple of [new] units have slipped into 2008," said Richard A. Galanti, EVP and CFO. "But, we will have a fairly expansive business in 2008." The company plans to open seven to eight new warehouses prior to the end of its fiscal year in September.
Net sales for the quarter rose 10% to $14.34 billion. Net income for the quarter was $224.0 million, compared with $235.6 million during the third quarter of fiscal 2006. Comparable store sales rose 7% in US locations and 10% in international units. Overall, comps rose 7% in the quarter.
Net sales for the first 36 weeks of fiscal 2007 increased 9% over the previous year to $43.0 billion. Companywide comp-store sales rose 6%. Net income year-to-date was $710.4 million, compared to net income of $747.6 million in 2006.
Costco operates 510 warehouses, consisting of 376 units in the US and Puerto Rico, 71 in Canada, 19 in the UK, five in Korea, four in Taiwan, five in Japan and 30 in Mexico.
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