Costco to open mainland store

Move poses strong threat to Walmart in battle to win over country's high-end shoppers

Global membership warehouse club retailer Costco Wholesale Corp is scheduled to open its first brick-and-mortar store in the Chinese mainland on Aug 27, posing a strong threat to Walmart China's cash cow, Sam's Club, in a battle to win over the country's high-end consumers.

Costco's first store will be located in the Minhang district of Shanghai. It has memberships for family and corporate consumers with fees priced at 299 yuan ($43.1) each.