Always known to spice up the retail newswire with its latest announcements, Costco is once again making headlines. The big-box chain recently unveiled plans for a new club location in Prosper, Texas, in addition to pulling back the curtain on its sales results for the month of March.
The new store is planned to be 160,000 square feet and will cost more than $20 million to build. Construction of the new location is expected to start in March 2024 and could be completed by late October, according to The Dallas Morning News.
As the source noted, this expansion is part of Costco’s plan to build 24 new warehouse clubs—including 14 in the United States—during its fiscal year that ends in August. Broadening its Texas footprint even further, one of the United States locations is planned for Kyle, Texas, south of Austin.
In addition to this footprint expansion, Costco’s March sales results have also been released.
In its report, the grocer revealed net sales of $21.71 billion for the retail month of March, the five weeks that ended April 2, 2023, an increase of 0.5 percent from $21.61 billion last year. For the 31 weeks that ended April 2, 2023, Costco reported net sales of $137.77 billion, an increase of 6 percent from $130.00 billion last year.
To view the full financial report, click here.
More updates on this burgeoning grocer and more are sure to come your way, so keep reading DMN.