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Costco expansion aims to ease overcrowded stores with 30 new sites a year

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Costco expansion aims to ease overcrowded stores with 30 new sites a year

Costco is betting big on a massive global expansion strategy, aiming to open 30 new warehouses annually over the next decade.

Driven by a combined goal to fix overcrowded stores and record-breaking demand, the retail giant is moving into new territories like Port St. Lucie, Florida, while eyeing a 50-50 split between U.S. and international growth. For the American consumer, this could mean shorter lines, better parking and more access to bulk savings as the company tackles “overburdened” locations.

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“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 at least achieving 30 new warehouses a year. The goal that we set for ourselves,” Costco CFO Gary Millerchip said during the company’s second-quarter earnings call.

COSTCO SAYS YOUR NEXT CHECKOUT COULD TAKE UNDER 10 SECONDS THANKS TO NEW AUTOMATED PAY SYSTEMS

“If we want to get into some of these inner cities, you’re not going to find 25 acres available for us to go into. So how can we infill in some of these very strong markets, like Los Angeles, New York, different places, with a unique model for Costco that is going to allow us to continue to expand?” CEO Ron Vachris said.

Customers with shopping carts outside Costco store

Customers walk in the parking lot outside a Costco store on Dec. 2, 2025, in Chicago. (Getty Images)

“We’re not only expanding buildings, we’re relocating and we’re also upgrading the insides of a lot of our older warehouses too,” Vachris added. “So we continue to put the money back into the company to drive top-line sales and grow our business globally.”

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One of the more notable upcoming expansions is in Port St. Lucie, where years of speculation and endless message board requests have officially resulted in a deal for a brand-new 170,000-square-foot Costco warehouse and gas station, with the city selling the land for the site at $6 million.

While roughly half of the expansion will remain focused on the U.S. market to meet soaring demand, the long-term vision is aggressive for store expansions abroad in countries such as Spain.

“We’re expecting around half, maybe slightly over half, to be in the U.S., and then just around half to slightly under a half to be in the rest of the markets that we operate in. So think of that being Canada, Mexico, Europe, Asia, Australia,” Millerchip said.

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With many Costco locations exceeding $300 million to $400 million in annual sales — as noted by former CFO Ron Galanti — the wholesaler is intentionally building new stores near existing high-traffic ones to redirect sales and improve the member experience.

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And to move faster, Costco is no longer just building from the ground up, but also refurbishing old structures, including former home improvement stores and international grocers.

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“We tend to focus on being our own toughest competitor or finding ways of how can we lower prices and continue to deliver more value,” Millerchip added. “So generally speaking, there’s nothing I would call out that we see an impact to our membership base when we’re competing against different operators in each market.”

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CPGs need a new playbook

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CPGs need a new playbook

Sector underperformance calls for retooled growth model.

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Litis to buy $4m Yallingup shack

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Litis to buy $4m Yallingup shack

The property identity is set to purchase the unique coastal home following more than two decades in the same hands.

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Prudential to admit 5.7 million new shares to London Stock Exchange

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Prudential to admit 5.7 million new shares to London Stock Exchange

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Amazon launches 30-minute delivery service in dozens of US cities

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Amazon adds seller surcharge as oil spike from Iran tensions drives logistics costs higher

Amazon is rolling out 30-minute delivery across dozens of U.S. cities, marking its fastest shipping option yet as the retail giant continues to accelerate its push into ultra-fast fulfillment.

The new service, called Amazon Now, will deliver thousands of items — including groceries, household essentials and electronics — to customers’ doors in about 30 minutes.

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The offering is now available in Seattle, Philadelphia, Dallas-Fort Worth and Atlanta, and is expanding to additional markets such as Austin, Denver, Houston, Minneapolis, Orlando, Oklahoma City and Phoenix.

“Amazon Now is for when you need or want the convenience of getting your Amazon order delivered in 30 minutes or less,” Udit Madan, senior vice president of Amazon Worldwide Operations, said in a statement. “With thousands of items available for ultra-fast delivery, you can get everything from groceries for dinner, to AirPods before a flight, to household essentials like laundry detergent or toothpaste delivered right to your door.

CALIFORNIA ACCUSES AMAZON OF PUSHING RIVALS TO RAISE PRICES

Amazon driver making deliveries.

A worker near packages in an Amazon delivery vehicle in San Francisco on Monday, Feb. 2, 2026. (David Paul Morris/Bloomberg via Getty Images / Getty Images)

“Amazon Now complements Amazon’s existing fast-delivery offerings, including 1-hour and 3-hour delivery on more than 90,000 products and Same-Day Delivery on millions of items,” Madan added.

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Amazon said the new service relies on a network of smaller fulfillment sites located closer to customers, allowing for faster delivery times and shorter travel distances for drivers.

Prime members will pay $3.99 per order for the service, while non-members will pay $13.99. Additional fees will apply for smaller orders, including $1.99 for Prime members and $3.99 for non-Prime members for orders under $15.

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Amazon’s new MK30 Prime Air drone is displayed during Amazon’s “Delivering the Future” event at the company’s BFI1 Fulfillment Center, Robotics Research and Development Hub in Sumner, Washington on October 18, 2023. (Jason Redmond/AFP via Getty Images / Getty Images)

“Amazon Now uses a network of smaller locations designed for efficient order fulfillment, strategically placed close to where customers live and work,” Amazon said. “This approach prioritizes the safety of employees picking and packing orders, reduces the distance delivery partners need to travel, and enables faster delivery times for customers.”

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Amazon plans to expand the service to tens of millions of customers by the end of 2026.

AMAZON ADDS SELLER SURCHARGE AS OIL SPIKE FROM IRAN TENSIONS DRIVES LOGISTICS COSTS HIGHER

Amazon is investing $4 billion to expand Prime delivery services to rural America.

Amazon is investing $4 billion to expand Prime delivery services to rural America. (Amazon / Fox News)

The rollout comes as Amazon continues to invest heavily in speeding up deliveries, reporting that U.S. Prime members received more than 8 billion items the same or next day in 2025 — a more than 30% increase from the previous year.

The new offering adds to Amazon’s broader delivery network, which includes Prime Air drone delivery, offering sub-60-minute service in select U.S. locations, as well as one-hour, three-hour and same-day delivery options across thousands of cities and towns.

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Amazon said 2025 marked its third consecutive year of record-fast delivery speeds, with more than 13 billion items arriving the same or next day globally. In the U.S., Prime members received over 8 billion of those shipments — up more than 30% year over year — with groceries and everyday essentials making up about half.

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The company said Prime members have access to free shipping on more than 300 million items, and saved an average of $550 on fast delivery last year — nearly four times the cost of a membership.

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Lala unveils RTD yogurt smoothies

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Lala unveils RTD yogurt smoothies

The nutritional smoothies are available in four flavors.

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Jon Moulton backs biotech firm Infex Therapeutics tackling ‘critical global threat’ of antibiotic resistance

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Mr Moulton and GM&C Life Sciences Fund join £4.3m funding round

Infex Therapeutics has secured £4.3m in funding

Infex Therapeutics has secured £4.3m in funding(Image: Infex Therapeutics)

Venture capitalist Jon Moulton has backed a biotech firm that’s looking to tackle the “critical global threat” of infections that are resistant to antibiotics.

Infex Therapeutics, of Alderley Edge, has secured £4.3m in a funding round led by Mr Moulton alongside the GM&C Life Sciences Fund, managed by Catapult Ventures, and existing high net worth investors.

The company will use the funding to develop its pipeline of new anti-infectives targeting antimicrobial resistance (AMR) and other “critical-priority infectious diseases”.

Dr Peter Jackson, CEO of Infex Therapeutics, said: “We are delighted to secure this investment led by Jon Moulton, with support from the Greater Manchester and Cheshire Lifescience Investment Fund and our existing investors.

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“This funding represents strong validation of our progress in developing novel anti-infectives to address the critical global threat of antimicrobial resistance.”

Jon Moulton, founder of Better Capital and now chair of Infex Therapeutics, said: “We have supported Infex from the beginning and continue to be impressed by the company’s scientific progress and strategic execution.”

He highlighted Infex’s lead programme RESP-X, which is being trialled as a therapy for non-cystic fibrosis bronchiectasis (NCFB) patients.

And he said: ”This additional investment reflects our strong conviction in both the team and its innovative approach to tackling antimicrobial resistance.

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Nick Wright, CEO of Catapult Ventures which manages the GM&C Life Sciences Fund, said: “Infex Therapeutics has made excellent scientific progress since we first invested several years ago. The company has clearly established itself as a world leader in the AMR and related space and the data it is generating is very compelling.”

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ICL Israel Chemicals earnings ahead: Can fertilizer giant rebound?

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ICL Israel Chemicals earnings ahead: Can fertilizer giant rebound?

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Elon Musk, Tim Cook and others to travel to China with US delegation: White House

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Elon Musk, Tim Cook and others to travel to China with US delegation: White House

President Donald Trump is slated to visit China this week, and according to a White House official, business figures including Elon Musk, Apple CEO Tim Cook and more than a dozen others will travel to China with the U.S. delegation.

Blackrock CEO Larry Fink, Boeing CEO Kelly Ortberg, and Goldman Sachs CEO David Solomon are some of the other figures listed.

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TESLA RECALLS MORE THAN 218K VEHICLES OVER REARVIEW IMAGE ISSUE THAT POSES CRASH RISK

Elon Musk and Larry Fink

Elon Musk, chief executive officer of Tesla Inc., left, and Larry Fink, chief executive officer of BlackRock Inc., during the World Economic Forum (WEF) in Davos, Switzerland, on Thursday, Jan. 22, 2026. (Krisztian Bocsi/Bloomberg via Getty Images / Getty Images)

Others on the list provided by the White House official include Blackstone Chairman, CEO and co-founder Stephen Schwarzman, Cargill Board Chair and CEO Brian Sikes, Citi Board Chair and CEO Jane Fraser, Coherent CEO Jim Anderson, GE Aerospace chairman and CEO H. Lawrence Culp, Jr., Illumina CEO Jacob Thaysen, Mastercard CEO Michael Miebach, Meta President and Vice Chairman Dina Powell McCormick, Micron Chairman, President and CEO Sanjay Mehrotra, Qualcomm President and CEO Cristiano Amon and Visa CEO Ryan McInerney.

“I am very much looking forward to my trip to China, an amazing Country, with a Leader, President Xi, respected by all,” Trump declared in a Monday Truth Social post. 

GORDON CHANG WARNS CHINESE EVS ENTERING US VIA CANADA COULD BECOME ‘ROLLING SPY MACHINES’

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President Trump shakes hands with Apple CEO Tim Cook

Apple CEO Tim Cook (R) shakes hands with U.S. President Donald Trump during an event in the Oval Office of the White House on Aug. 6, 2025 in Washington, D.C. (Win McNamee/Getty Images / Getty Images)

“Great things will happen for both Countries!” he added.

President Donald Trump met with Chinese President Xi Jinping in October in South Korea, according to Reuters.

EX-WHITE HOUSE ‘AI CZAR’ SAYS US, CHINA COULD FIND AI COMMON GROUND DESPITE FIERCE RIVALRY

U.S. President Donald Trump shakes hands with Chinese President Xi Jinping

U.S. President Donald Trump greets Chinese President Xi Jinping ahead of a bilateral meeting at Gimhae Air Base on Oct. 30, 2025 in Busan, South Korea. (Andrew Harnik/Getty Images / Getty Images)

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During his first term, Trump visited China in 2017.

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Rich Products Corp. is bulking up breakfast options

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Rich Products Corp. is bulking up breakfast options

Company is launching protein-forward breakfast innovations. 

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At Close of Business podcast May 12 2026

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At Close of Business podcast May 12 2026

Elisha Newell and Nadia Budihardjo discuss MLG founder Murray Leahy’s board transition.

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