Costco Abandoning Home Furnishings Store Concept

Kirkland, WA, April 2, 2009--Costco Wholesale Corp. joined other major retailers and said it's shutting its two Costco Home stores.

The two stores, to be closed on July 3, are located in Kirkland, Wash., and Tempe, Ariz., Costco said.

"The current economic slowdown and resulting weakness in the home furnishings business in particular have led us to conclude that the single-format Costco Home concept does not fit into our long-term expansion plans," said Costco Chief Executive Jim Sinegal in a statement.

"Costco Home has been a valuable experiment for us."