"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," Costco Chief Executive, Jim Sinegal, said in a statement on Thursday.

He added that the closures would have no significant impact on operations or financial results.

In the statement, Costco said it did not expect layoffs as a result of the closings: "Employees at the Costco Home locations will be offered the opportunity to transfer to other local Costco warehouses. Costco Home employees at the Issaquah home offices will also be offered other opportunities within the company."

Costco said last month that its February sales at clubs open at least a year, or same-store sales, fell three percent. Analysts had been expecting a 2.7 percent decline.