Costco already planning second store in Shanghai

|About: Costco Wholesale Corporation (COST)|By:, SA News Editor

Costco (NASDAQ:COST) plans to open a second store in Shanghai after seeing huge traffic at its first store opening in the city.

The retailer hopes to start the construction as soon as possible.

Costco CEO Richard Galanti says the company is optimistic about the future of the brand in China.

Shares of Costco are down 0.68% premarket to $292.75 vs. the 52-week trading range of $189.51 to $299.95.

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