• Matt & Meshel in the Morning
  • Listen on
A New Station For Melbourne

KIIS 101.1

  • now playing:
    Matt & Meshel in the Morning
    KIIS 101.1
  • Listen on
MENU

There Is Some AMAZING News If You Are A CostCo Fan!

American discount retailer Costco looks set to post record sales in Australia and it looks like all those Masters stores that are closing are about to become discount warehouses.

Costco Australia managing director Patric Noone said this years results would be stronger than last years, which the revenue would hit more than $1.32 billion.

The retailer opened its first warehouse in Australia in 2009 and now has 8. It makes the majority of memberships to households and businesses that are priced at between $55 and $60 a year.

However, Mr Noone declined to confirmed that they were about to increase their store numbers dramatically, telling the age ‘’"We're hoping to open one [store] in Marsden Park in Sydney next year, in July. And [the northern Melbourne suburb] Epping is probably going to be [20]18, I think. That's the horizon right now. There are a number of other opportunities around the country but those are the two that we have in the works."

When probed about whether they would take on Masters sites, he said "We're always interested in new sites but right now it's pretty confusing so I don't know how it's going to work out.”

It is thought that CostCo will see themselves end the year with a 5% share of the grocery market, while Aldi will increase to 15%.

Share this: