Costco looks to ramp up UK expansion with 14 new stores
Costco is looking to open 14 new stores over the next two years as part of its wider expansion plans.
The wholesale retailer is reportedly eyeing openings in Brighton, Cambridge, Chelmsford, Colchester, Exeter, south Glasgow, Maidstone, southeast London, Portsmouth, Bournemouth, Preston, Wolverhampton, southwest Birmingham, and Oxford, according to The Sun.
The retailer will attempt to launch its stores “as soon as possible”, however some openings could be delayed if Costco cannot secure the sites quickly enough.
The proposed stores, along with a new site opening soon in Gloucester, would bring Costco’s UK estate to 44 locations.
Costco is working with property firm Chase Commercial to find suitable locations. According to a brochure, the retailer is seeking sites of 6-12 acres, with a 150,000 sq ft building and at least 650 car parking spaces.
In the year to August 2022, Costco’s UK division saw pre-tax profits increase year-on-year by 44% to £120.6m.