4 New Costco Stores Are Opening: Here’s Where They Are Located

Costco (COST) is opening four new stores in the coming months as it continues its aggressive global expansion despite the COVID-19 pandemic.

The new locations that are slated to open in the coming months include U.S. stores in South Windsor, Connecticut, and Garner, North Carolina, in November. Two international locations will also be opened in Pontault Combault, France, in November and Bilbao, Spain, in December.

Unlike many retailers that reduced their brick-and-mortar footprint amid the pandemic, Costco has continued to increase its store portfolio as consumers flock to its wholesale clubs. Costco said in its annual report that it planned to open 20 new clubs in 2021.

The wholesale retailer opened new stores in San Antonio, Texas, and Stafford, Texas, in September and Duluth, Minnesota, and Avon, Indiana, in October. It also opened a location in Anjou, Quebec, in Canada, in October.

In July and August, stores were opened in Murfreesboro, Tennessee; Little Rock, Arkansas; Moore, Oklahoma; Springfield, Missouri; and Naperville, Illinois. Also, in July and August, Costco opened international locations in Moriyama, Japan, and Lake Macquarie, Australia.

Costco was one of the retailers that was able to stay open as an essential business during pandemic lockdowns. The company reaped the benefits of staying open as its revenue climbed during the COVID crisis, fueled by consumer stimulus spending.

Today, it continues to see strong consumer spending, recently reporting net sales of $35.97 billion -- an increase of 17.3% from $30.66 billion last year for the nine weeks ending Oct. 31. Net sales also grew 19.2% from $13.82 billion in 2020 to $16.47 billion just for the month of October, Costco said.

Amid a boom in spending by consumers, Costco raised its employee minimum wage to $17 per hour in mid-October. The increase comes as the company just hiked its workers’ wages to $16 per hour in February.

Costco also recently announced its Black Friday sales event, which will give members early access to savings, starting online on Nov. 15. The sale will run through Nov. 29.

As of Tuesday premarket hours, shares of Costco were trading at $502.00, down $1.81, or 0.36%.