The “Big Money Show” tells the company’s day policy as Costco continues to resist and Disney reportedly continues to make an effort.
Costco is expected to open more than 12 new locations in fiscal year 2025.
“We plan to open 27 new warehouses in this fiscal year, including three relocations of a total of 24 net new buildings,” CEO Ron Vachris said last week in a warehouse retailer’s third quarter revenue call.
Costco’s global warehouse count will reach 914 by the end of the fiscal year, Costco CEO told analysts and investors.
Costco is watching record fuel sales after extending gas station time
Shoppers outside CostcostA in Bayonne, New Jersey (Angus Mordant/Bloomberg via Getty Images)
The company is about to launch 10 Costco locations in the fourth quarter.
Among them is Costco’s second warehouse in Sweden, 20th in Korea and 110th in Canada.
The retailer has opened nine warehouses, including “the relocation in Melbourne, Australia, Japan’s 37th warehouse, and seven net US warehouses since holding the revenue call on March 6th.”
As of mid-May, the company’s retail footprint spans 905 warehouses worldwide, including 624 in the US and 281 in other countries, according to its latest quarterly financial report.
Costco stocks approximately 4,000 items in its warehouse. The location also offers “additional” businesses such as gas stations, pharmacies, food courts, optical centres and tire installation centres.
Retailers extended their time at gas stations in North America several months ago, leading to increased revenues.
Vachris said Costco had “two of the best gallon weeks of all time” in the US in April, “two of the best gallon weeks of all time” due to “a combination of expanded gas station time, new gas station openings and low-cost pumps.”
On December 9th, 2023, cars lined up at a Costco gas station in Bayonne, New Jersey. (Angus Mordant/Bloomberg via Getty Images)
He also said the company will continue to pursue various ways to “improve the membership experience” in retailer warehouses, and will direct analysts and investors to “keep an eye on some new technology pilots that are focused on helping members check out their frontends at a faster pace.”
According to Vachris, Costco has recently engaged in tests like “Costco Scan & Go” in several warehouses.”
Costco checks tests of “scan and go” checkout technology to speed up long lines
He said the technology has “very successful in driving people through boundaries and driving transactions.”
Costco believes that digital and technology are “an important part of future growth,” and therefore, according to the CEO, it believes that it is “investing to improve the member experience.”
Cost Cost A is located in Bayonne, New Jersey, December 9, 2023. (Angus Mordant/Bloomberg via Getty Images)
In mid-May, the company forced US customers to make payments for bulk online purchases now and through a new partnership with AFFIRM, paying for later options.
Costco buys now and later declares and pays for large amounts of online purchases
Buy now and pay later services and approved Costco members can “pay over time” purchases ranging from $500 to $17,500 on the warehouse retailer’s website.
Costco is “pleased with the initial sales results” of its new product, Vachris said.
| Ticker | safety | last | change | change % |
|---|---|---|---|---|
| Fee | Costco Wholesale Corp. | 1,014.94 | +4.13 |
+0.41% |
