Tuesday, October 8, 2019

Is Costco Approaching U.S. Saturation?

Winsight Grocery Business
Costco Wholesale Corp. will spend about $3 billion in its new fiscal year on capital projects including about 15 new U.S. stores—figures roughly equivalent to its recent annual building pace.

Speaking in a call reviewing earnings for its fourth quarter and fiscal year, Richard Galanti, chief financial officer for the Issaquah, Wash.-based membership warehouse club, said Costco is eyeing about 25 new stores worldwide in the new fiscal year, which began Sept. 2. Like 2019, its openings will be skewed toward the second half of the calendar year: The company opened 10 new U.S. units and relocated two stores in the recently completed fourth quarter.. . . more