UNITED STATES & CHINA - Recent reports have revealed an ambitious expansion plan brewing for club chain Costco. The company plans to open 31 new locations in the next year, bringing 24 new locations to the United States.

"We are finding more opportunities in the U.S.," Chief Financial Officer Richard Galanti said during a recent earnings call, while explaining that the company still plans to increase its rate of international openings.

The 31-location expansion play also includes plans to open the company's sixth location in China in early 2024. In addition, Costco reported that two locations would be relocated.

Galanti has previously said the company's goal is to reach 30 new openings per year, with half of those in the U.S. and half overseas, according to Business Insider. The chain’s 2024 fiscal year is already off to a strong start, with 10 openings in the first quarter.

Costco’s warehouses range in size from 80,000 to 230,000 square feet, with the average coming in at roughly 147,000. A proposed location in the works for Fresno, California, would reportedly top 241,000 square feet, making it the largest in the company's fleet.

For more updates on the retailer’s ongoing expansion, leave a tab open to ANUK.

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