Costco is accelerating its US expansion with a target of 30 or more new warehouses annually, marking a significant step up from historical growth rates as the retailer works to address crowded stores and capitalize on surging membership demand.
During its May 2026 earnings call, CEO Ron Vachris stated that the company aims to open 30 or more warehouses annually over the next five to 10 years. For fiscal 2026 specifically, Costco planned to open 28 new locations, with roughly half in the United States and the remainder in Canada, Mexico, Europe, Asia, and Australia.
The expansion reflects intense pressure on existing locations. Store visits to Costco warehouses have increased more than 18% since 2019, according to data cited by Business Insider in May 2026. That surge has strained capacity at many sites, prompting the company to pursue what it calls a “strategic cannibalization” approach—opening new warehouses near overburdened locations to redistribute customer volume and improve the shopping experience.
“We tend to look five to 10 years out in terms of our real estate plans, and we would still see a really good roadmap for 30-plus warehouses a year, which is the goal that we have,” CFO Gary Millerchip said during the second-quarter earnings call, according to Inc. magazine. The company also reported a 14% increase in net income for the second quarter, with net sales rising 9.1% to $68.24 billion.
Costco locations averaged $279 million in annual sales in 2025, according to the company’s annual report. With 914 warehouses operating globally as of fiscal 2025’s end, the planned acceleration would add roughly 150 new warehouses over the next five years if the 30-per-year target holds.
The expansion comes as Costco’s membership base continues to grow. The company ended fiscal 2025 with over 145 million cardholders and a 90% renewal rate, according to its annual report. This membership momentum, combined with comparable sales growth of 6% in fiscal 2025, underscores the retailer’s ability to drive traffic and justify new warehouse investment.
When comparable expansion plans have been announced by other major retailers, the pace of execution has varied. In 2024 and 2025, Costco opened 27 and 24 net-new warehouses respectively, according to Seeking Alpha and Retail TouchPoints. The jump to 28 in fiscal 2026 and the stated target of 30+ annually represents a meaningful acceleration from those historical levels.
Sources
- The Hill — CEO Ron Vachris’s statement during earnings call that Costco aims to open 30 or more warehouses annually over the next five to 10 years
- Inc. Magazine — CFO Gary Millerchip’s statement on five-to-10-year real estate plans, Q2 earnings results, and strategic expansion to address overcrowded stores
- Business Insider — Data showing store visits increased more than 18% since 2019
- Costco Annual Report 2025 — Warehouse count (914 globally), average sales per location ($279 million), membership base (145+ million), and 90% renewal rate
- Retail TouchPoints — Historical warehouse opening count of 24 net-new locations in fiscal 2025
- Seeking Alpha — Warehouse opening data for fiscal 2025 and 2024
