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Costco To Boost Expansion in 2011

ISSAQUAH, WA-New Stores to hit high-20s beyond 2012.

By Debra Hazel | Updated on December 10, 2009

ISSAQUAH, WA-Expect Costco Wholesale Corp. to ramp up expansion in 2011 and beyond, the company said at its first quarter 2010 conference call.

The company plans to open 16 to 18 new stores this year, 13 to 14 of them in the United States. That will grow to the low-20s in 2011 or 2012, and the high-20s beyond that, said Richard A. Galanti, executive VP and CFO. The company recently opened a smaller unit in Manhattan, opening a dim possibility of additional smaller stores.

“Never say ‘never,’ though Manhattan is unique,” Galante said. The company declined to open a store on a small site in Atlanta due to the costs of building what would have been a double-decker parking facility.

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