Costco plans to open 31 new locations in 2024, including approximately 24 in the U.S. and the company's sixth location in China in early 2024, Business Insider reports.

CFO Richard Galanti announced the news on Dec. 14, during an earnings call in which the company reported quarterly sales of $56.7 billion, up 6.1% from last year.

Revenue from membership fees increased more than 8% for the quarter following a months-long crackdown on member card sharing.

"We are finding more opportunities in the U.S.," Galanti said, explaining that the company still plans to increase its rate of international openings.

Galanti also said two locations would be relocated.

The number exceeds the 23 warehouses opened in the 2023 fiscal year. The company's 2024 fiscal year is already off to a strong start, with ten openings in the first quarter.

Galanti has previously said the company's goal is to reach 30 new openings per year, with half of those in the U.S. and half overseas.

Warehouses range in size from 80,000 to 230,000 square feet, with the average clocking in at 147,000. Meanwhile, a proposed location in the works for Fresno, CA, would top 241,000 square feet, making it the largest in the company's fleet.