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Costco closing two home stores

By Furniture Today Staff -- Furniture Today, April 6, 2009

ISSAQUAH, Wash. — Costco Wholesale said it will close its two Costco Home stores in Kirkland, Wash., and Tempe, Ariz., July 3, citing the weak economic climate and saying the home furnishings format doesn't fit with its expansion plans.

“Costco Home has been a valuable experiment for us,” said CEO Jim Sinegal. “We provided a competitive home furnishings alternative to our members in two locations and learned a great deal about home furnishings in the process.”

The two Costco Home stores were ranked No. 65 on Furniture/Today's Top 100 with estimated furniture, bedding and accessories sales in 2007 of $111 million.

Sinegal said no other closings are planned except for relocations. Costco continues to sell home furnishings at all of its 554 warehouse stores.

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Both Costco Home stores to close

Apr 2, 2009

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