The wait for Costco to arrive in P.E.I. continues.
While many are of the opinion the Island is simply too small a market for Costco, there are those in the retail industry who have told The Guardian that it’s just a matter of time.
Last week, Costco announced it will open seven locations in Canada next year after opening its first business centre this fall. The Washington State-based big-box retailer currently operates 91 stores across the country and 715 around the world.
On Monday, The Guardian contacted Costco and asked whether P.E.I. was one of the planned seven new locations.
In an email reply, Ron Damiani with Costco said the wholesaler has announced five of the seven locations mentioned in the announcement, with three of them opening in November.
The locations are Waterloo, Barrhaven (Ottawa) and South Saskatoon. Additionally, Damiani said another location will open in Orillia in the spring.
Finally, Costco’s first business centre will open in Scarborough in February.
Business centres are about two-thirds the size of a regular Costco and offer a wider selection of business-oriented merchandise and services, but no consumer products like apparel, toys and bakery items.
According to The Canadian Press, Costco said it hasn’t yet decided whether to increase membership fees in Canada and the United States despite raising annual charges in September in Taiwan, Korea, Japan, Mexico and the United Kingdom.
Costco normally increases membership fees every five to six years. The last increase, equal to 10 per cent, took place in November 2011.
Includes files from The Canadian Press