The remodel will bring shelf space and services up to contemporary standards.
This article is based on corporate postings and accredited media reports. Linked information within this article is attributed to the following outlets: BusinessInsider.com and NewsDay.com.
As Costco presently expands worldwide, improvements are also in store for the stalwart superchain.
Per BusinessInsider.com’s report, “Costco Plans to Open 24 Stores This Year, Including 15 Throughout the US,” the company’s present plans also include relocations and, as we will soon see, remodels of older locations.
From BusinessInsider.com’s report, regarding Chief Financial Officer Richard Galanti’s disclosure of some of those plans on a recent earnings call: Seven of those stores opened during the first quarter of Costco's fiscal year, which began on September 1. One of those new store openings was Costco's first store in New Zealand, and another was the retailer's first store in Sweden. In total, there will be 27 new stores openings, including three "relocations" for stores. Nine of those 24 net stores will open internationally, including Costco's third and fourth locations in China, Galanti said. The US will get 15 more stores.
Now comes word that the first of what is widely expected to become a trend among older models is about to be upgraded.
Let us explore further.
According to a report from NewsDay.com, entitled “Costco Boosting Holbrook Store's Size For Up-to-Date Layout,” the old format is being discarded to bring the store up to modern standards.
As excerpted from the report: Costco Wholesale’s 30-year-old warehouse club in Holbrook is an old format, so the retailer plans to make changes, including boosting the size of the store, an attorney for the chain said. On Jan. 26, the Islip town board approved a modification of covenants to allow Costco to increase the size of the Holbrook store, located at 125 Beacon Dr., by 18,357 square feet, or 14%, to 147,923 square feet.
As a targeted Google search will verify, industry analysts largely expect other older Costco models around the country to undergo similar remodels.
The NewsDay.com report goes on to state: “So, they’re just increasing the flooring area, so they can basically modernize the existing services that they have, in terms of like the pharmacy, administrative offices, storage and … shelf space,” said Philip A. Butler, a land use and municipal law attorney at Uniondale-based law firm Farrell Fritz, P.C. who is representing Costco on the Holbrook project.
No official completion date has been announced as of press time.
This is a developing story. In the event of pertinent updates to this matter, inclusive of progress and completion announcements, I will share them here on NewsBreak.
Thank you for reading.
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