Costco may open in Iceland next year

The US retailer Costco is considering to open a 14,000 m2 warehouse in Garðabær in Iceland next year. The daily Morgunblaðið initially reported in March this year that the second largest US retailer and the third largest in the world was considering to extend its operations to Iceland.

Costco is in negotiations to buy large warehouse in the area Kauptún in Garðabær where retail companies such as the Swedish furniture retailer IKEA run large warehouses. Final decision to open business in Iceland has not been reached. Costco's original plan was to open a warehouse within the capital city of Reykjavík but the nearby town of Garðabær is now being considered.