Costco Australia & China Growth
Former SVP at Costco
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Former SVP at Costco
Interview Transcript
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Is it a big opportunity for you? Two stores in 20 years? There's obviously a problem there.
What we learned in Japan, Taiwan, and some other countries is that it's okay to spend $70 million on a building. If you do $300 million in sale, it doesn't matter if you're not doing 80 to 100 million. Unfortunately, if you have a $75 million unit and you only do $80 to $100 million, you're going to lose a lot of money. It's about whether the population and the demographic where you build can drive the kind of sales you need. So now we take a much different look and say, well, okay, it's going to be 80 million, it's going to be 60 million, Shanghai is going to cost 100 million, whatever it is, okay. We would have never considered those numbers in the past. But now it makes sense to invest that if you're going to get the return on sales.
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