News Summary
Costco is set to open 10 new locations in North America this summer as part of its global expansion strategy. The company aims to reach 27 new stores worldwide by 2025. This includes milestones like a second location in Sweden and the 20th store in South Korea, along with new stores in Texas, California, and beyond. Members will enjoy new perks, and Costco is also introducing its first standalone gas station in California. This expansion demonstrates Costco’s commitment to growth and adapting to market demands.
Seattle — Costco is set to strengthen its presence in North America by opening 10 new stores this summer. This expansion is part of a larger plan that includes 27 new locations worldwide by the end of 2025, as announced by CEO Ron Vachris. Currently, the wholesaler operates approximately 900 stores globally and aims to continue increasing this number into the foreseeable future.
The upcoming store openings throughout North America will include significant milestones, such as Costco’s second location in Sweden and its 20th store in South Korea. Additionally, the company will celebrate its 110th outlet in Canada. Most of the new locations will be in the U.S., with two additional sites opening in Canada.
Costco plans to open its first standalone gas station in Mission Viejo, California. However, this location will differ from typical Costco gas stations, lacking conventional merchandise and a food court. This move indicates a strategic diversification of services beyond the traditional warehouse format.
Executive members, who pay an annual fee of $130, are set to receive new perks, including early access to stores—one hour before the general public. This initiative aims to enhance the shopping experience for members, catering to the growing demand for exclusive benefits.
As part of its upcoming expansion, Costco has scheduled a series of new openings for March 2025. These include locations in Prosper and Weatherford, Texas, set to open on March 14 and 15, respectively. Additional stores in Brentwood and Highland, California, as well as Genesee County, Michigan, and Sharon, Massachusetts, are also expected to launch in March.
Furthermore, Costco is planning to debut new locations in Stuart, Florida, and Minami Alps, Japan, in April, with another outlet in Ardeer, Australia, anticipated to open by the end of the year. This international growth reflects Costco’s commitment to expanding its global footprint and meeting the needs of its diverse membership base.
By the beginning of 2024, Costco’s number of warehouses is projected to reach 914 worldwide. Currently, the retailer operates 623 stores across 14 countries, indicating a robust presence and strong performance in the retail sector.
The company recently experienced a membership fee increase, with the annual cost for Gold Star memberships rising from $60 to $65, while Executive memberships have gone from $120 to $130. This adjustment resulted in a 7.6% increase in membership revenue during the first quarter of the 2025 fiscal year, culminating in $1.17 billion. As it stands, Costco has about 77.4 million paid memberships, with nearly half classified as executive memberships.
In a move aimed at enhancing security and streamlining operations, Costco has begun implementing scanners across select warehouses, requiring members to scan their cards upon entry. This step is indicative of the company’s focus on modernizing its shopping experience.
Despite these changes, the wholesaler is expected to discontinue the sale of books in most of its locations after the upcoming holiday season, signaling a shift in inventory strategy concentrated on high-demand items.
A strong finish to 2023 highlighted Costco’s growth, with a record opening day sales of $2.9 million in Pleasanton, California, showcasing the positive response to its expansion efforts. Overall, Costco’s international sales have seen significant growth, with U.S. comparable sales rising by 8.3%, Canadian sales increasing by 4.6%, and other international markets growing by 1.7%. This performance underscores the company’s successful evolution and response to market demand over the years.
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Costco to Open First Standalone Gas Station in Mission Viejo
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Additional Resources
- USA Today: Costco New Stores
- Wikipedia: Costco
- Tri-City Herald: Costco Expansion
- Google Search: Costco News
- Eat This: Costco New Warehouse Openings
- Encyclopedia Britannica: Costco
- 247 Wall St: New Costco Locations
- Google News: Costco Store Openings
- NTD: Costco Growth
- ABC12: Costco Membership Sales
