Costco may expand in Europe
Costco, the largest warehouse club retailer, could enter more European markets within the next three years. Richard Galanti, Chief Financial Officer of the US-based retailer, has told analysts, “My guess is, in the next two or three years, you’ll see us announce, if not open, a unit or two in a couple of countries.”
Costco operates in the UK but has yet to expand into continental Europe. Galanti adds, “It takes us a while to open a few units and make sure we like what we see and we understand all the issues with the distribution and labour hiring and everything else.” He notes that the company has “stepped up” expansion in Japan, Korea and Taiwan.