Costco Wholesale Corporation opened a new warehouse at 4077 Portage Avenue West in western Winnipeg on November 13, 2025, moving the former St. James Street location to a larger, modern facility that includes a gas station and expanded parking. The relocation preserves the same high‑value, low‑price product mix and membership benefits that members have come to expect, while positioning the company to serve a growing customer base in the region.
The move follows Costco’s Q4 2025 earnings release, in which the company reported net income of $2.61 billion, or $5.87 per diluted share, up from $2.35 billion and $5.29 the previous year. Net sales rose 8.0% to $84.4 billion, and comparable sales increased 5.7% year‑over‑year, driven by a 13.6% jump in e‑commerce sales. The earnings beat analysts’ expectations by $0.06 per share and revenue by $1.72 billion, a result that the company attributes to disciplined cost management, a favorable mix of high‑margin private‑label items, and continued demand for bulk goods.
Costco’s strategy for 2026 includes opening 35 new warehouses, a plan that the company reiterated in its earnings call. The new Winnipeg site is the first of those planned openings, and the conversion of the old St. James location into a Business Centre reflects a broader shift toward serving small‑business customers in addition to retail members.
President and CEO Ron Vachris highlighted the company’s confidence in its growth trajectory, noting that “we remain confident in our ability to grow market share by continuing to deliver exciting, high‑quality items at the best value for our members.” CFO Gary Millerchip added that the expansion plan is supported by strong cash flow and a focus on technology investments that improve operational efficiency.
The market has responded positively to Costco’s recent performance, with analysts noting the company’s ability to beat earnings expectations and maintain robust sales growth even amid macroeconomic uncertainty. The company’s membership base now totals 81 million paid members, up 6.3% year‑over‑year, and fee income has risen 14%.
Overall, the new Winnipeg warehouse and the broader expansion plan signal Costco’s continued confidence in its membership‑centric model and its capacity to scale both physical and digital channels, positioning the company for sustained growth in the Canadian market and beyond.
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