ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Costco plans more China openings as sales boom at Shanghai store

But US discount chain says first China store will take few years to break even

Better-than-expected sales at Costco's Shanghai store has convinced analysts that the Chinese market could be a huge growth driver the U.S. retailer. (Photo courtesy of Costco)

PALO ALTO, U.S. -- Costco, one of the biggest U.S. wholesale chains, said it has seen record signups at its new store in China, with more than 240,000 new customers becoming members at its Shanghai location since it opened in August.

"It [the Shanghai store] is beyond good. ... We've had locations in other countries in Asia where we might be at 120,000 [signups] after a year or two. This one is more than twice that," said Costco CFO Richard Galanti during the earnings call on Thursday.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more