Costco news

04 September 2020
Accounts filed by warehouse club operator, Costco UK, for 2018/19 show its sales increased by 2.9% to reach £2,618m over the 12 months.  Operating profit rose by 32.4% to £19.2m, with operating margin up to 0.7%. Currently operating 29 warehouses Costco added one further warehouse in the course of the year, at Stevenage, bringing its UK total to 29.  As with other new sites, Stevenage inclu...
30 July 2020
Building on an earlier pilot, Costco Canada and Instacart are partnering for a national same-day grocery delivery programme. On-demand delivery Same-day delivery will be offered from 76 of Costco Canada’s 101 outlets. The national roll-out follows on from a two-month pilot in Ontario. Although Costco Canada has offered a non-food, home delivery ecommerce proposition for several years, this ...
10 July 2020
Costco's sales continue to improve, with net sales in June up 11.1% to $16.18bn. This reflects the shift towards one big shop and Costco's strength in this area. Strong growth across its markets The performance in June builds on the progress made in May, when net sales increased 7.5% to $12.6bn. During the month of June, sales were up in all regions, with the US growing by 11%, Canada up 8....
04 June 2020
We review Costco’s May performance as trading evolves into a more normalised pattern and retailers start to adjust their strategies to win the one big shop. Asia recovery underpinning bounce-back Following a decline of 1.8% in April, including a fall of 0.5% in comparable club sales, the retailer’s performance bounced back in May. Net sales increased 7.5% to $12.6bn. Comparable club sales, ...
29 May 2020
We review Costco’s Q3 results, including how it’s adapting to a more normalised trading environment. Key numbers Net sales for the quarter increased 7.3% to $36.5bn Net sales, year-to-date are up 7.8% at $111.0bn Q3 comparable club sales, excluding currency and fuel impacts, were up 7.8%, including growth of 8.0% in the US, 3.0% in Canada and 12.2% in other international markets ...
06 May 2020
We review Costco’s April performance as social-distancing measures impacted traffic and sales. Net sales fall 1.8% Costco’s net sales in April fell 1.8% to $11.4bn, while comparable stores sales fell 0.5%, excluding the impact of fuel and foreign currency movements. Comp sales were flat in the US, down 5.0% in Canada and up 2.0% in other international markets. The performance was impacted b...
14 April 2020
The retailer will open a new store in Suzhou, an eastern city near Shanghai. It will the company’s third location in the country. Expanding presence and targeting middle class shoppers The retailer is planning for a warehouse store with a floor area of more than 50,000 sq m in Suzhou New District.  It opened its first store  in Shanghai in August last year. Earlier this year, the re...
09 April 2020
We look at Costco’s March sales update and the impact of customers stocking-up during the Coronavirus (Covid-19) pandemic. Strong growth across all regions Costco reports its sales performance each month, with very little change on a month-to-month basis. However, the pandemic had a significant impact in March. For the five-week period from March 2 to April 5, total sales increased 11.7% to...
17 March 2020
Costco has acquired Innovel Solutions, a leading provider of third-party end-to-end logistics solutions, in a deal valued at $1bn. Builds on existing partnership Costco acquired the company from Transform Holdco, which operates the Sears and Kmart stores in the US. Innovel has provided Sears and other retailers with a last-mile delivery solution, including installation, for large, bulky ite...
09 March 2020
We review Costco’s second quarter performance, as it continues to set the pace among global retailers. Comparable club sales up 7.9% Costco’s net sales increased by 10.5% to $38.3bn in Q2, with comparable club sales up 7.9%, excluding fuel and currency impacts. The retailer saw strong growth across its global operations, with comparable sales up 8.1% in the US, 6.8% in Canada and 7.1% in ot...