Costco Wholesale Corp. announced Thursday that it would close its 120,000-square-foot Costco Home furniture shop in Tempe July 3 due to the economic downturn and weak point in the house furnishing market.
Costco opened the Tempe shop at 1345 W. Elliot Road in 2004 with significant excitement as it was among only two such stores in the United States. Costco envisioned an ultimate national chain of the stores. Costco will continue to offer furniture at its conventional discount store, Sinegal stated.
. Retail forward financial expert Frank Badillo forecasted in recent report that retail sales, other than food and family consumables, would decrease in the very first 3 quarters of this year and that home goods retailers would be especially tough hit.
Buffalo Exchange, located a couple of blocks away from Downtown Tempe and ASU, includes a wide variety of guys’s and women’s clothing in designs from fashionable to designer and daily basics. You will find everything from mid-level designers to department store brand names. Hipsters, deal hunters, vintage cravers and pattern following junkies will enjoy as clams here.
Costo joins a number of sellers who have actually closed stores in the Valley during the previous 12 months. House Depot is closing its Exposition shop in north Phoenix while Mervyn’s Linens ‘n Things and Circuit City shuttered outlets Valley wide.
Consumers mill through the Costco Home store in Tempe, which opened in 2004. The shop will be closing on July 3 amidst the weakness in the home-furnishings market. You can share your full access digital membership with a buddy by just entering in their email address. Click below to continue.
Besides car dealerships, furniture stores were the worst carrying out retail section in 2008, according to research firm Sageworks Inc A second Costco Home shop in Kirkland, Wash. also will close. No other store closures are prepared by the Issaquah, Wash.-based seller. Costco said there would be no lay-offs as an outcome of its store closures and employees at the Tempe and Kirkland locations would be offered employment at its mainstream membership warehouse stores. The Tempe store utilizes about 85 individuals. Costco presently runs 554 warehouse stores, consisting of 407 in the United States and 147 in 6 foreign countries.
Costco opened the Tempe shop at 1345 W. Elliot Roadway in 2004 with substantial fanfare as it was among just 2 such stores in the United States. Costco visualized an eventual nationwide chain of the stores. Costco will continue to offer furniture at its conventional warehouse stores, Sinegal said.