Costco news

14 December 2018
Costco’s first quarter results reveal a strong start to its new financial year. We look at the drivers of growth, including its fast-growing ecommerce operation. Traffic and membership renewals improve Costco’s first quarter net revenue increased 10.2%, with comparable store sales (ex-fuel and currency impacts) up 7.5%. Growth was driven by the US, with comp sales up 8.3%. The retailer also...
09 October 2018
infoRETAIL reports that Costco Wholesale plans to open a third store in Spain in 2019. Potential to expand in Spain James Cheesemore, Costco Europe's real estate director said that “Spain has a highly developed retail market and offers good opportunities for expansion and scalability”. Once the urban planning license has been obtained, the US-based group plans to open its third store in Mad...
08 October 2018
We review Costco’s fourth quarter performance, including the continued growth of its ecommerce business. Costco: the key numbers Costco’s fourth quarter total revenue increased by 5.0% to $44.4bn Over the period, comparable store sales, excluding currency and fuel impacts, increased by 7.2% Net income increased 13.5% in the quarter to $1.0bn For the full year, total revenue incr...
27 August 2018
Costco has opened its 100th store in Canada, hitting the major milestone with a new club in Edmonton. One of Costco’s most successful international markets Canada continues to be a major success for Costco, with the retailer opening seven new clubs last year, its fastest pace of new space development for several years. Costco continues to see significant opportunities for further growth in ...
25 July 2018
Costco is set to open its 10th Australian warehouse next month in Melbourne. Fourth store to open in Melbourne The new store is due to open on Wednesday 29 August and will mark a milestone for the retailer. The store will be located in the suburb of Epping, to the north of the city and will be Costco's fourth store in Melbourne. Alongside the standard Costco offering, the store will feature...
19 July 2018
Costco Canada is testing a new two-day grocery delivery service in southern Ontario. Orders fulfilled at Business Center The new service enables members to qualify for free two-day delivery for orders over $75. They will be able to shop a broad range of grocery, consumable and health and beauty categories, although perishable categories will not be included as part of the initial pilot. The...
19 June 2018
Costco Japan has announced plans to launch an online store next year. New online store in 2019 Costco's new ecommerce service will aim to capitalise on growing popularity of online shopping in Japan. It will be particularly relevant to those looking to purchase in bulk, taking advantage of home delivery for heavy but essential items such as water and rice. Full details of the service suc...
04 June 2018
We review Costco’s third quarter results, including its plan to invest in higher starting wages. Strengthening performance across the business Costco’s third quarter revenue increased by 12.1% to $32.4bn, with net income up 7.1% to $750m. Comparable store sales, excluding fuel and currency impacts, increased by 10.2%. This was almost twice as strong as its performance in Q2. The retailer’s ...
30 May 2018
Costco UK has filed its latest accounts with Companies House revealing turnover (including its online sales) for the 53 weeks to 3 September up 14.7% to £2,382m, representing 52-week pro rata growth of 12.6%. The business currently operates 28 warehouses, with the target of growing that number to 35 to 40 in the longer term. With its ongoing focus on offering the lowest possible prices, gross ...
11 May 2018
Costco is turning to China as its next destination to establish a physical presence. First store in China next year Costco has been trading on Alibaba's marketplace Tmall since 2014, selling for example, branded healthcare and personal care items. The American wholesaler has now signed an agreement with Shanghai Pudong Kangqiao Group to set up its Chinese headquarters in Shanghai’s Pudong d...