Costco news

12 February 2020
Costco Australia is launching online shopping and delivery later this month, but it will be available to members only. Making shopping more convenient Costco members will need to register for an online account to use the new online shopping service. Shipping costs will be included in online prices. Overall prices, however, will be slightly higher than shopping in the warehouses. Costco also...
06 January 2020
Costco in Australia has recorded sales of over AU$2bn for the first time. Growth of over 18% The retailer's Australian revenue was recorded as AU$2.159bn for the 52 weeks to September 2019, up 18.5% from AU$1.822bn in 2018. Its operations in Australia continue to perform well, with growth accelerating against the 14% growth recorded in its 2018 financial year. Costco now has 11 store tradin...
13 December 2019
Costco’ new financial year saw a continuation of the strong results of the last year. We review its performance and how new ecommerce initiatives and its launch in China have contributed to its growth. Comparable club sales up 5.0% Costco’s Q1 net sales increased 5.6% to $36.2bn, with comparable club sales up 5.0%. Canada led the way with comparable club sales up 5.1%. Comparable ecommerce ...
04 December 2019
Last year, Costco Japan announced plans to launch an online store . We are now beginning to see the wholesaler make progress. Costco online shopping coming soon In preparation of launching its online shopping platform, Costco Japan has revamped its corporate website . The wholesaler has introduced a new AI ChatBot system and is advising shoppers to prepare by registering online to creat...
04 October 2019
We review Costco’s fourth quarter performance and the drivers behind its strong performance. Costco: the key numbers Costco’s fourth quarter total revenue increased by 7.0% to $47.5 bn Over the period, comparable store sales, excluding currency and fuel impacts, increased by 5.1% Net income increased 5.2% in the quarter to $1.1 bn For the full year, total revenue increased by 7....
27 August 2019
Costco has opened its first warehouse in China today (27 th of August). The warehouse brings members the best possible price on quality items by selling in large quantities. Its communication channels have also been tweaked to adapt to the China market. New store the same size as three football pitches Located at Lianyou Road, Minhang District, the membership-only wholesaler continues its ...
29 July 2019
We look at Costco’s new digital membership card and what this could mean for the retailer and its members. Ability to deliver more relevant and personalised offers Costco has added a digital membership card to its app, enabling customers to enter its clubs and check-out without the need for a physical card. While other retailers have offered this capability for several years, and itself is ...
21 June 2019
In accounts submitted to Companies House, Costco UK has recorded turnover of £2,545m for the year to September 2018.  This is up an estimated 9.9% on an equivalent 52-week basis with 2017.  Profitablility improved with gross margin for the year edging up to 2.8% from 2.7%. Fuel a key driver With two further fuel forecourt sites added to existing warehouses (Edinburgh and Glasgow) in the yea...
19 June 2019
Costco Wholesale Corp. is set to open its first bricks-and-mortar warehouse in China this August. A business based on membership strategy After setting up an online store on Alibaba’s Tmall five years ago, the U.S wholesaling giant is to open its first physical warehouse in Shanghai’s Minhang district on the 27 th of August. Costco’s model in North America has been based on families buyi...
13 June 2019
Costco has announced that it will open its first store in New Zealand. Auckland's Westgate chosen for first store The new 14,000 sq m membership club store will be located at Westgate on the north western edge of Auckland. It will provide a new retail destination for the city, with 800 parking spaces and include groceries, electronics, homewares, plus fuel, a tyre centre, an optometrist and...