Costco news

24 September 2021
We review Costco’s fourth quarter and full year results and the challenges it is seeing with higher costs, shipping capacity and labour shortages. Fourth quarter and full year key numbers Q4 total revenue up 14.8% to $62.7bn, with full year revenue up 17.5% to $196.0bn Comparable sales for the quarter (ex-fuel and currency impacts) up 9.4%, including up 10.3% in the US, 6.7% in Canada...
22 September 2021
The country is seeing a wholesale store boom. Yonghui opened its first wholesale store in May 2021, it now has 45 such stores. Local retailers are rushing into the wholesale sector, encouraged by Yonghui’s good results Yonghui opened its first wholesale store in May 2021 by upgrading one of its Bravo YH supermarkets in Fuzhou. Within four months, it has upgraded 45 selected stores into wh...
14 July 2021
In its latest accounts filed with Companies House for the year to 30 August 2020, Costco UK has recorded total sales up 15.7% to £3,130m across its combined warehouse and online operations. The core warehouse business, operating from 29 sites across the UK, saw its sales rise 14.5%, all but reaching £3bn for the first time. ‘Food & sundries’ were the key drivers With shoppers focused on sho...
06 July 2021
North America’s grocery retailers* added over $100bn in sales last year as the pandemic caused a surge in demand and a shift from out-of-home to at-home dining. We compare this to previous years and identify some of the key winners in 2020. More growth than the previous three years combined Combined sales of over 40 of the region’s largest retailers increased by $103.6bn last year. This i...
06 July 2021
Having seen a surge in demand for online grocery retail over the past year, we have remodelled how we expect the channel to grow in Australia over the coming years, predicting that online grocery will achieve a market share of 9.9% by 2026, up from an estimated 5.0% by the end of FY21. COVID-19 has accelerated online grocery by three years in Australia Woolworths and Coles currently control...
28 May 2021
Despite facing tough comparables from last year, Costco’s third quarter revenue increased over 20%. We look at what continues to drive an outstanding performance from the leading warehouse club operator. Costco Q3 key numbers Total revenue up 21.5% to $45.3bn Net sales up 21.7% to $44.4bn Comparable sales (ex-fuel and currency impacts) up 15.1% Comparable sales up 15.2% in the U...
23 March 2021
Following much speculation, Costco is reported to be entering Sweden in autumn 2022. The leading retailer, which reported revenue growth of 9.1% to $166.2bn in 2020, is due to open its first store north of Stockholm in Täby. 13,000 sq. m premises secured in growing location Trophi , ‘the Nordic region’s leading real estate company in the grocery trade’ has confirmed a contract for ...
05 March 2021
We review Costco’s second quarter results as it starts to lap last year's surge in demand driven by the Covid-19 pandemic. Key numbers Q2: Net sales increased 14.7% to $43.9bn Comparable store sales (ex-fuel and currency impacts) increased 12.9% across the company, and by 12.6% in the US, 10.6% in Canada and 17.7% in other international markets Ecommerce sales increased 74.8% Op...
26 February 2021
Half year results season in Australia is out of the way, with both Woolworths and Coles having released their HY performance reports over the last two weeks. As the attention swings towards H2 and the rest of 2021, we believe that there are five major trends that will shape the Australian grocery market as we cycle out of the pandemic... 1. Acceleration of online grocery Over the past few y...
20 January 2021
Following a relative reluctance to develop its ecommerce business to include a store pickup service, Costco is testing a curbside model at stores in New Mexico, USA. Optimising its partnership with Instacart Although Costco has operated an online non-food business for several years, it wasn’t until 2017 that it started to offer a grocery-focused service. Launching three and a half years ago...