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    Costco to Open First Store Down Under in July

    The retailer will introduce low-price, high-volume retailing to the Australian market.

    Costco said it will open its first Australia store this July -- five months ahead of schedule -- and expects to benefit from its low-price positioning in the down economy, according to published reports.

    Costco Australia manager Patrick Noone and Victoria’s Industry and Trade Minister, Martin Pakula, made the joint announcement yesterday while inspecting the construction site of the planed location.

    The new warehouse store in Melbourne Docklands’ Waterfront City will be Issaquah, Wash.-based Costco’s first of three planned stores in Australia and will operate on a membership model. The other future locations are Melbourne and Sydney, Costco said.

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