Costco Wholesale Corp. (COST) opened its first store in continental Europe, extending the reach of the largest U.S. warehouse-club chain into a new market after global sales exceeded $100 billion last year.
The outlet in Seville, Spain, celebrated taking its first customers yesterday, according to a company official in Madrid, where the Issaquah, Washington-based company plans its next opening.
The 140,000-square-feet (13,006 square meters) warehouse store will kick off a “revolution” in retailing planned by Costco in Spain, newswire Efe said, citing Diane Tucci, the company’s general manager for Spain.
Tucci was not immediately available for comment.
To contact the editors responsible for this story: Timothy Coulter at firstname.lastname@example.org Paul Jarvis