Sam's Club plans to double warehouse club membership within eight to 10 years
/Sam's Club has a new goal: Double its membership within eight to 10 years, according to Chris Nicholas, president and CEO of the Walmart-owned warehouse club.
One way it intends to achieve that goal is to open about 15 warehouse clubs per year and remodel all 600 of its existing U.S. locations.
Sam’s Club rivals Costco Wholesale and BJ's Wholesale Club are also expanding. Costco expects to open 28 new clubs during its current fiscal year, including three planned relocations of current clubs. BJ’s had previously announced plans to open 25 to 30 new locations over the next two fiscal years.
Read more: As warehouse clubs boom, Walmart-owned Sam’s Club plans to open 15 stores per year (CNBC)