Costco has yet to bring warehouses to these 3 US states
FILE - Aerial photo shows a Costco Wholesale store. (Photo: CFOTO/Future Publishing via Getty Images)
Costco has expanded its footprint across the U.S. with over 600 warehouses – and more than 270 others in countries across the world – but three U.S. states still don’t have a location of the membership-only chain.
The states that still don’t have a Costco are Rhode Island, West Virginia and Wyoming, according to a nationwide warehouse list on Costco’s website.
Until recently, that list also included Maine. Residents in the Pine Tree State can now enjoy the big-box store’s famous $4.99 rotisserie chicken or $1.50 hot dog after a location opened outside of Portland, its largest city, in November.
Costco has plans to open a location in Rhode Island, with local news stations reporting that several communities were courting the wholesale chain as recently as February. As of April, no plans have been confirmed.
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With the retailer’s popularity, why don’t these three states have at least one Costco warehouse while states like California have 137?
One major factor is population size, according to Food Republic. Citing an analytical study published by Medium, the outlet reported that employment, median household income and projected population growth near potential warehouse locations also play a role in the company’s decision to open a new store.
Despite lacking locations in three states, the warehouse chain reported an increase in its total membership during its second-quarter earnings call last month.
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The company reported that its total number of cardholders increased to 132 million as of the end of the second quarter, a 7.3% increase over the same period a year ago.
In the second quarter, the retailer brought in $1.1 billion from membership fees, an increase of more than 8% from the nearly $1.03 billion it notched in the same quarter a year earlier, and reported $58.44 billion in second-quarter revenue, below analysts' estimates of $59.16 billion.
The membership-only warehouse club chain’s first location opened in 1976 in San Diego as Price Club. In 1983, the first Costco warehouse opened in Seattle.
FOX Business Digital’s Aislinn Murphy contributed to this report.