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Costco Store, Sydney

Costco planning two new stores for 2013

US discount giant Costco will open two new stores in Australia in 2013, after committing $140 million in capital to continue its expansion into the country.

According to Fairfax Media, Costco has a second Sydney site in mind as well as one in Brisbane – which would be the retailers’ first store in Queensland.

“We would like to do two [stores] in calendar 2013, ideally; we could do three but are likely to do two for sure,” managing director Patrick Noone said.

Currently, Costco has three stores open in Australia, one in Melbourne’s Docklands, one the Sydney suburb of Auburn and the third in the Canberra suburb of Majura Park.

“We are also now looking at a second store in Melbourne… Adelaide is also an interesting area for us,” Noone added.

For the 12 months to August 2011, Costco’s Australian revenue totalled $245 million.