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Costco opens first Sydney store

Reported by By ninemsn staff
Friday, July 22, 2011
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World's kookiest billionairesBillionaires and their eccentric and outlandish publicity stunts.

Heavy rain and huge crowds did not stop thousands of shoppers from rushing into Costco's first Sydney store yesterday.

The 14,000-square-metre warehouse store in Auburn opened its doors two years after the first Melbourne store received a rapturous response from shoppers.

The US chain sells discounted products in bulk to customers who pay a $60 membership fee.

Melbourne's Costco has become one of the most profitable outlets worldwide, generating $166 million in revenue its first year.

Customers at the Sydney store quickly filled up the 800-capacity car park and caused significant delays on Parramatta Road.

Big crowds are also expected at the first Canberra outlet when it opens today.

Already 8000 people have already become members at the ACT store, the Canberra Times reported.

"We are looking at suitable sites and want to open new stores in Adelaide, Brisbane and Sydney," managing director Patrick Noone told The Australian.

"Our prices are attractive enough to entice shoppers to come back and shop with us again."

The success of the first Costco stores is likely to make the major supermarket chains nervous, but Woolworths and Coles spokespersons both believed their prices were competitive.

24/10/2014 18:42Sydney, Australia. 24 October,2014
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