In a conference call with investors on May 30, 2013, Richard Galanti Chief Financial Officer of Costco Wholesale Corp. said that the company plans to open roughly 150 new warehouses over the next five years.
Galanti said that the expansion is simply a reflection of the company’s success, and is a decision that was made two or three years ago. Roughly 55 stories are to be built in the U.S. The rest are slated for construction in Canada and overseas.
The company also reported third quarter results that slightly beat analysts’ expectations.
Net sales for the quarter increased by eight percent from $21.85 billion to $23.55 billion while Net sales for the first thirty-six weeks increased eight percent from $65.54 billion to $71.10 billion
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Costco
