Costco ramps up WA expansion plans
Costco has yet to receive regulatory approval to construct its first store in Western Australia, but chief executive Patrick Noone isn’t waiting, revealing plans for a second store out west last night.
In a segment on Today Tonight aired on Tuesday evening Noone said that he hopes to have two locations trading in Perth by the end of 2019, with a possibility for a third in the north of the city.
“Not only this one, the one in the south,” Noone said. “Two buildings at this point in time we’re looking at.”
The retail/wholesale giant announced that it would expand into WA last month with a $55 million construction project on a site in Perth’s airport precinct.
Noone is bullish on the company’s prospects across the bite and hopes to replicate the success he’s had with the popular US-born model in a new local market.
The $55 million development compounds $77 million in investment earmarked earlier this month for a new headquarters in Western Sydney, which has been outlaid to facilitate Costco’s growing presence Down Under.
“Perth Airport is the obvious place for us to invest given its proximity to the CBD, the great transport links, and the way it is growing into a consumer-focused retail hub,” Noone said in a statement about the company’s expanding presence in WA last month.
Noone was not able to be reached for comment on Wednesday morning.
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