US-headquartered discounter Costco is on track for record sales in Australia, with revenue set to tip A$1.32bn, reports Fairfax.
Costco Australia managing director Patrick said he was confident revenue would be higher than last year’s, which rose 50 per cent on the year prior to reach A$1.32bn, with pretax profit of A$22.7m.
Since opening its first warehouse in Australia in 2009, Costco has expanded to now operate eight stores across the country, with two more warehouses to open in coming years.
'We're going to grow the business organically,' Noone told Fairfax. 'As opportunities come up we'll grow.
'We're hoping to open one [store] in Marsden Park in Sydney next year, in July. And 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.'
Nevertheless, Noone said the company was interested in new sites, sparking local media reports that Costco may be eyeing the sites of Woolworth’s failed homeware store, Masters.
Costco’s full-year results for 2016 will be released in December.
