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Costco international exec says chain looking to open stores in Europe
Issaquah, Wash. -- Costco Wholesale Corp.’s international executive VP James Murphy said Thursday that the warehouse club operator is pursuing a European expansion program.
Murphy told Bloomberg that Costco is “interested in investing in the obvious four -- Germany, Italy, France and Spain.” The company hasn’t decided which country would debut first and will probably open a store in the region “in the next couple of years,” Murphy said in the Bloomberg interview.
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Mexican expansion delay has international implications
The timing of store openings in Mexico and Central America will be delayed by as much as 90 days due to what the company described as “process changes” that will increase the time required to open a store.
Wal-Mart de Mexico, S.A.B. de C.V. in an update to its expansion program disclosed to the Mexican Stock Exchange that it contemplated completing its 2012 expansion program 60 to 90 days later than originally planned. As a result new store openings for the current year will now range between 325 and 335 units.