By Aimee Chanthadavong

Costco has announced it will open a third store in the country’s capital, Canberra, which is expected to bring greater supermarket competition to the ACT.

Patrick Noone, Costco country manager of Australia, told Retailbiz the company is looking forward to opening up another store.

“It’s a great opportunity to build in Canberra. It’s a mid-size town with the highest average discretionary income in the country,” he said.

“We are delighted with the investment in Canberra and we are looking forward to being a supplier to businesses and part of the competitive retail market.”

The Canberra store has been welcomed by Canberra Chief Minister and Minister for Business and Economic Development Jon Stanhope

“Costco will be a welcome addition to the retail and supermarket choices for the Canberra consumer,” he said in a statement.

“It will also provide further competition to the supermarket sector both as a retail supplier as well as a wholesale provider.”

Stanhope also said the Costco store would help the Government achieve the aims of its Supermarket Competition Policy, by increasing the competition and diversity in the full line retail supermarket sector in the ACT.

“The ACT Government is committed to increasing the number of supermarket options available to shoppers in Canberra.”

The retailer announced plans to open the outlet at the Brand Depot site, which is expected to finish and open during the same period in which its first Sydney store in Auburn will open later in late July to early August.

According to Noone, the plans for its Auburn store are on track and “it’s going great and it’s half complete”.