Cost-U-Less to Open Stores in New Zealand; Bellevue, Wash. Retailer to Expand International Presence.BELLEVUE, Wash.--(BUSINESS WIRE)--June 3, 1999-- Bellevue, Wash.-based Cost-U-Less, Inc. (Nasdaq:CULS CULS Capital University Law School (Columbus, Ohio) ) announced today that it plans to open two stores in New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. during the first quarter of 2000. The company said it will lease a 36,000 square foot facility in the town of Rotorua on the North Island; and a 30,000 square foot store in Porirua, also on the North Island. Rotorua is a heavily visited tourist destination A tourist destination is a city, town or other area the economy of which is dependent to a significant extent on the revenues accruing from tourism. It may contain one or more tourist attractions or visitor attractions and possibly some "tourist traps". , and Porirua is a suburb of New Zealand's capital city, Wellington. New Zealand itself is primarily comprised of two large islands -- the North and South Islands -- upon which most citizens live. "We are extremely excited about our entry into New Zealand," said Cost-U-Less' president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Jim Rose Jim Rose may refer to a number of persons:
income - the financial gain (earned or unearned) accruing over a given period of time , but because there is virtually no other competition with our club style format to speak of. We believe New Zealand could well sustain multiple Cost-U-Less stores." According to Rose, the company plans to feature a product mix that combines popular consumer items from New Zealand, Australia and the U.S. Cost-U-Less currently has buyers on staff both in New Zealand and in Sydney. The New Zealand locations will be the fifth and sixth Cost-U-Less stores operated outside U.S. territory and the thirteenth and fourteenth stores overall. The other non-U.S. locations are in Fiji (2 stores); Curacao, Netherlands Antilles; and St. Maarten, Netherlands Antilles (scheduled to open in December 1999). Rose said the company will hire approximately 50 people to work in each New Zealand store. Founded in 1989, Cost-U-Less is a leading operator of mid-sized warehouse "club style" stores with 11 locations: Hawaii (2); Guam (2); the U.S. Virgin Islands (2); Fiji (2); Curacao; American Samoa; and Sonora, Calif. More information is available on the Web at http://www.costuless.com. Note: Investor relations Investor relations The process by which the corporation communicates with its investors. information can also be obtained from the company website at http://www.costuless.com. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion