Costco does not advertise. It carries fewer than 4,000 products per warehouse. It caps its markups. And it just passed a quarter trillion dollars in annual sales.

The growth is coming from two directions at once. Costco is opening more than 30 new warehouses a year, and at the same time, every existing warehouse keeps selling more than it did the year before. New buildings plus bigger numbers inside the old buildings. That combination is rare in retail, and it matters to you.

I have spent more than 35 years in the food business, and I have helped place 23 products into Costco. I watch this company closely, because when Costco grows, the opportunity for food brands grows with it. Let’s walk through both growth engines, then talk about what they mean if you make or import food products.

The Warehouse Count Keeps Climbing

Costco reported 933 warehouses worldwide in its July 2026 monthly sales release, spread across 14 countries. Management has told investors it now targets 30 or more net new openings every year, backed by roughly $6.5 billion in annual capital spending.  

Think about that pace. Thirty warehouses a year means a new Costco opens somewhere in the world roughly every 12 days.

The expansion is not just domestic. Costco’s leadership has committed to splitting future openings about 50/50 between the United States and international markets. They have named Canada, China, Korea, Japan, France, Spain, and the U.K. as priority markets for the next five to ten years.

For context, 641 of Costco’s warehouses sit in the United States and Puerto Rico, a mark it crossed with new openings in June 2026. California leads all states with roughly 140 locations. Texas is second. But international comparable sales are now growing faster than U.S. sales, which tells you where the next wave of buildings is headed.

Same Location, Bigger Numbers: Warehouses Get Better With Age

Here is the part most people miss. Costco does not just add warehouses. Each warehouse gets more productive over time.

A new Costco typically opens with lower sales and builds volume as membership in the surrounding area grows. Historical figures from Costco’s annual reports showed new warehouses starting around $100 million in first-year sales and reaching roughly $140 million by year five. Those numbers are old now, and today’s are far bigger. Divide fiscal 2025 revenue by the warehouse count and the average location generates close to $290 million a year.

The freshest proof of same-store growth is comparable sales, the measure that strips out new openings entirely. Costco’s comparable sales rose nearly 10% in the most recent quarter. Same buildings, same parking lots, 10% more sales.

This is the maturation curve. A warehouse opens, local households sign up, those households build a shopping habit, and sales compound for years. Analysts who study the company say stores take eight to ten years to fully mature. Costco is not just planting stores. It is planting assets that grow.

Here is the math that shows how powerful a mature warehouse becomes. Analysts peg the all-in cost of a new Costco at $75 to $100 million. That covers the land, the building, the equipment, and the opening inventory. A mature warehouse doing $200 million or more a year rings up roughly $4 million a week at the registers. At that pace, the store rings up its entire build cost in about 20 to 26 weeks of sales. Under six months. Profit takes longer, of course. Each store throws off an estimated $8 to $10 million in free cash flow a year, so the true payback runs closer to a decade. Costco plays a long game, and it can afford to, because members keep renewing.

The busiest warehouse in the world, in Iwilei on Oahu, generates more than double the revenue of an average location. Roughly one in four residents of the island holds a membership. That is what full maturation looks like.

The Membership Engine

Costco’s real product is not rotisserie chicken. It is the membership card.

The company ended fiscal 2025 with 81 million paid member accounts and 145.2 million total cardholders. Paid memberships grew about 6% year over year. Membership fee income climbed 10.7% in the most recent quarter to $1.37 billion.

Two numbers matter most here.

First, the renewal rate. In the U.S. and Canada, 92.3% of members renew every year. Worldwide, the figure sits near 90%. Almost nobody quits Costco. That renewal rate funds the low prices, and the low prices protect the renewal rate. It is a flywheel.

Second, the Executive tier. Executive memberships grew 9.6% year over year to 41.2 million accounts, and those members now drive about 76% of all sales. Costco’s CFO has noted members keep upgrading from the basic Gold Star tier to Executive. Members are not just staying. They are paying more for the privilege.

Members Are Buying More

Behind the same-store growth sits spending per member. The average member visits about 23 times a year and spends over $100 per trip. E-commerce is growing at triple the rate of warehouse sales, up 22.6% in the most recent quarter.

Add it up. Fiscal 2025 revenue hit $275.2 billion, up 8.17% from the prior year. The most recent quarter came in at $70.5 billion, up 11.58% year over year. Fiscal 2026 is tracking toward $300 billion.

More buildings. Bigger sales at every existing building. More members spending more per visit. Every engine running at once.

What This Means for Food Brands

If you make, import, or market food products, here is why these numbers should be on your whiteboard Monday morning.

More warehouses means more regional buying opportunities. Costco buys regionally, not just nationally. Thirty new warehouses a year means new regions reaching the density where a regional buy makes sense. A brand that was too small for a national program can win a regional placement and prove velocity there. Velocity means how fast your product sells off the shelf. It is the number buyers care about most.

Roadshows are the side door. A roadshow is a temporary in-warehouse selling event, usually running about ten days. It is how many brands get their first Costco revenue and their first velocity data without committing to a full regional buy. More warehouses means more roadshow slots to fill. If a permanent placement feels out of reach today, a roadshow is the proving ground.

The 4,000 SKU limit cuts both ways. A typical supermarket carries 30,000 or more items. Costco carries under 4,000. That makes the door harder to open, but it also means every item that gets in sells in enormous volume. One Costco placement can outsell hundreds of grocery doors.

International expansion opens two-way lanes. Costco’s push into Asia and Europe creates demand for products that travel in both directions. If you are an international brand, Costco’s growth in your home market builds familiarity that helps your U.S. pitch. If you export, those new international warehouses are potential customers.

Executive members are premium buyers. The fastest-growing member segment spends the most and skews toward quality. Premium and specialty food products have a natural audience here, and Kirkland Signature’s $90 billion in annual sales proves members will pay for quality at value pricing.

The Catch: Costco Growth Does Not Wait for You

Here is the hard truth. Costco’s growth creates opportunity, but the buyer’s standards rise along with the volume. A buyer managing an item that needs to sell across more than 640 U.S. warehouses cannot gamble on a supplier who is not ready.

Before you pitch, you need your Document Stack in order. That means your FDA registrations, labels, certificates, insurance, and food safety documentation, all complete and organized. You need packaging built for the club format, because a Costco warehouse has no backroom. Where a typical big-box store gives up almost a third of its footprint to storage, Costco’s entire building is selling floor, and your product sells off the same pallet it ships on. You need pricing that survives Costco’s margin math. And if you import, you need FSVP compliance locked down. FSVP is the FDA rule making importers verify their foreign suppliers meet U.S. safety standards.

One more number that explains the buyer’s mindset. Costco turns its inventory roughly 15 times a year, and it often sells your product before it even pays for it. That model only works with items that move fast. It is why velocity beats every other line on your sell sheet.

I have watched great products lose placements because the paperwork was not buyer-ready. I have also watched modest products win because the founder showed up prepared, with proof of velocity and a clean compliance file.

The Bottom Line

Costco opens a new warehouse every 12 days, renews 92% of its members, and watches every existing location sell more year after year. The shelf space is expanding. The question is whether your brand will be ready when a buyer in your region starts looking for your category.

If Costco is on your roadmap, start with an honest readiness assessment. Know your gaps before the buyer finds them.

For More Info, Please Visit: https://investor.costco.com/news/news-details/2026/Costco-Wholesale-Corporation-Reports-June-Sales-Results-and-Announces-Quarterly-Cash-Dividend/default.aspx

Tim Forrest has spent 35+ years in food CPG, placed 23 products into Costco, and helped clients generate over $1 billion in retail revenue. Book a call at timforrestmarkets.com.