Ariz. Costco Home store on tap
By Tom Edmonds -- Furniture Today, March 21, 2004
TEMPE, Ariz. — TEMPE, Ariz.— Costco Wholesale Corp. plans to build its second Costco Home unit here, next to an existing Costco Warehouse.
Costco is pursuing final permits on a former HomeBase location, a 110,000-square-foot building that is slightly larger than the original Costco Home store near Seattle. The new unit in Tempe, east of Phoenix, will be on West Elliot Road at 56th Street.
Once permits are approved, the company expects to open the new outlet late this year. Like its predecessor in Kirkland, Wash., which opened in December 2002, this Costco Home will offer an upscale assortment of furniture, bedding and accessories at middle and upper-middle price points.
Working primarily with importers, Costco Home offers fashion-forward home furnishings with low margins. Most merchandise is available from stock.
Costco Home is a spin-off from the Costco membership warehouses, where furniture has been moving briskly during the two selling windows the company devotes to the category each year — January and February and July and August.
Costco has 431 warehouses worldwide, with 381 units in the United States and Canada. For the fiscal year ended in August, the company had sales just under $42 billion.
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