Costco Australia continues growth

Date : 03 October 2016

Costco Australia is set to announce record sales, plus is considering further expansion opportunities at sites previously occupied by hardware chain Masters.

Another record year for revenue

Costco Australia CEO, Patrick Noone, has said that the retailer's sales will be higher than last year, when the retailer generated revenue of AU$1.32bn. Despite the on going popularity of the retailer, Costco will continue to grow its business in Australia at a steady pace, with a new stores to open in Marsden Park, Sydney planned for July 2017 and a store in Epping, a northern suburb of Melbourne, expected in 2018.

Further expansion could be driven by new opportunities

Although the retailer aims to continue growing the business organically, it will also keep its eyes peeled for opportunities as they arise. With this in mind, Noone has suggested that the retailer might look to capitalise on the closure of Woolworths Masters hardware chain. The sites previously occupied by the retailer might be attractive in the future for Costco, however Noone was also keen to express that there is much uncertainty on this opportunity currently. Costco's results are expected to be released in December 2016.