Costco Is Opening Stores While Other Retailers Are Squeezed Smaller

So Retail company As consumers move to online shopping, one company that is steadily closing stores across the United States has succeeded in having a physical presence and opening more locations – Costco (cost).

Costco announced that it will open two new stores overseas and five new stores in the United States.

Wholesalers website A new store is coming to Murfreesboro, Tennessee. Little Rock, Arkansas; Moore, Oklahoma, Springfield, Missouri in July. And in August Naperville, Illinois.

The two international stores announced include Moriyama in Japan in July and Lake Macquarie in Australia in August.

Costco, unlike many retailers, runs against the trend of closing due to the surge in sales during the pandemic. Reported at the end of May Quarterly results It increased by 21.7% from the previous year to $ 44.38 billion.

this is, Reduced the number of stores Focusing on selling e-commerce instead in a pandemic consumer Move to digital purchases to prevent the spread of the coronavirus.

However, Costco was one of the first retailers to require customers to wear face masks in stores while shopping. Since the Centers for Disease Control and Prevention issued new guidelines for fully vaccinated people Costco relaxed face mask policyAllows fully vaccinated shoppers to go without a face cover.

Costco continues to appeal to consumers Buy discounts in a huge warehouseThe company continues to bet on in-store formats, and Costco seems to be doing well because it doesn’t offer the pick-up and delivery services that many other retailers use.

Richard Galanti, Costco’s Chief Financial Officer, said in a statement to the company’s financial results in September 2020: Business insider, “There is no head on the sand. We see it. There are people here studying it. And maybe we will surprise you someday. But at this point, we are ready to do so. I haven’t done it. “

New stores will be added to 559 locations currently operated by Costco in the United States and Puerto Rico. Retailers have more than 800 stores worldwide Annual report Planning to open 20 new clubs in 2021.

Costco shares were trading at $ 382.50 as of Thursday 11:23 am eastern daylight saving time, up $ 2.54 (0.67%).

Photo: Sole Robe / AFP / Getty Images

Costco Is Opening Stores While Other Retailers Are Squeezed Smaller Source link Costco Is Opening Stores While Other Retailers Are Squeezed Smaller

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