Costco in Australia has recorded sales of over AU$1bn for the first time.
Sales jump by over 50%
The members club cash and carry business in Australia has seen sales jump
50.7% in FY 2015 to AU$1.32bn. Sales were assisted by the growth in both new and
existing outlets, with categories such as fresh food in particular, understood
to be performing really well. The retailer also saw profits return, after a
decline in FY 2014, with a profit of AU$14.3m recorded.
More expansion to come in 2016
Having recently visited Costco's new warehouse in Moorabbin, Victoria it is
evident just how popular the retailer is becoming with Australian shoppers.
Having entered the market in 2009, Costco now trades eight stores; three in
Victoria, two in New South Wales, and one each in Queensland, South Australia
and ACT. In the year ahead the retail plans to open another store in Sydney at
Marsden Park, a second in Brisbane and another store in Epping, Melbourne.