Speaking on Sunrise, Costco Warehouse Australia Managing Director Patrick Noone revealed that the retailer would be opening an additional 20 Costco stores across the country in the next five years.
"We're looking for more locations in Sydney," Patrick said.
"We have another location we're expected to open in Melbourne in the next year and a half and there are other locations around the country."
"Brisbane could do another one, Perth, even Adelaide and Hobart we are looking at as well."
Patrick also chimed in with his two cents on whether the large quantities Costco products were sold in were a savings miracle or a storage nightmare.
"Everything you buy in larger quantities but the savings are tremendous because of the larger packaging, larger size, [which means] less packaging, and better value."
In July 2022, Patrick first spoke of the upcoming expansion plans for Costco in Australia, telling realcommercial.com.au that locations in Hobart, north and south Sydney, Wollongong, north Perth, south Adelaide, and Geelong were "aspirational locations" for the retailer.
"These are the kind of hotspots that we're trawling through all the time looking for good sites," he said.
He then added that Sydney would be a priority location.
"When you look at the markets in Australia, the Sydney marker definitely is a great marker for Costco and we only have three Costcos here with about six million people."
"So there is a lot more opportunity here in this marketplace."