US discount retailer Costco is looking to the Asia-Pacific region to fuel growth and says it could open two stores a year in Australia for the next three years, the Sydney Morning Herald reported.
Costco, which charges customers a A$60 annual membership fee, opened its first Australian store in Melbourne last year, and is awaiting approval for a second outlet in Sydney.
Chief financial officer Richard Galanti told analysts in the US the company had targeted the region to feed its international growth.
''We are ramping up some of our international operations a little bit. Our success in Asia is an example, and Australia,'' he said.
Mr Galanti said the company hoped to open as many as five or six new Australian stores in the next three years.
Costco Australia managing director Patrick Noone agreed with Mr Galanti's forecast.
''We certainly have the capacity to do that. I hope we can do that,' Mr Noone said.
