Costco news

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...
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 ...