Updated at 2:24 p.m., Monday, November 13, 2006
New Kaua'i Costco cuts into Cost-U-Less sales
Advertiser StaffCost-U-Less Inc., operator of midsized warehouse club stores, expects lower sales for its Kaua'i store this quarter because of competition from a Costco Wholesale Corp. store that opened on the island last month.
Cost-U-Less, in a filing at the U.S. Securities and Exchange Commission, said it anticipates sales will decline because "increased competition and reduced marketshare, which has occurred as a result of Costco opening."
The Bellevue, Wash.-based company recently spent $200,000 making enhancements to its Kaua'i location. It also operates a store in Hilo and nine others elsewhere.