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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsCostco's first China warehouse has 200,000 members, blowing past the 68,000 average
Costco Wholesale Corp. has just one warehouse in China, and shoppers are flocking to it.
Costcos (COST) Chief Financial Officer Richard Galanti said on the retailers fourth-quarter earnings call late Thursday that membership at the Shanghai location totals more than 200,000.
Just to put that in perspective worldwide, the average Costco, ones that have been open for months and ones that have been open for 35 years, all told, have approximately 68,000 member households per location, he said, according to a FactSet transcript.
Costco made headlines when eager shoppers forced the Chinese warehouse to close its doors for four hours on opening day due to overcrowding.
Costco will open a second location in early 2021, also in Shanghai. The first warehouse opened on August 27.
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UTUSN
(70,725 posts)Submariner
(12,506 posts)Is this the line for the $4.99 roasted chicken? egads
Costco should advertise so they can attract more customers.
HipChick
(25,485 posts)I only do my shopping there as is, when folks are at work..ie during the week
msongs
(67,433 posts)klook
(12,164 posts)Finally, we get to buy the same cheap products we make for the Americans!
Im sure theyre all super excited about buying stuff in the Family of Eight size, too, even though none of them have more than two kids.