Costco news

Strong price and promotions activity in Australia's grocery market is nothing new, however there is increasing concern that the market is heading towards a full on price war. So what can the industry learn from other markets? To date volume growth has remained strong Price deflation has become part of the market in recent years in Australia as both Woolworths and Coles have continued to dri...

As Costco reports its latest results, we highlight where it won in the quarter. Taiwan, South Korea and Mexico lead international growth Costco’s second quarter sales increased by 4.3% to $26.8bn, with comparable stores sales up 2%. Net income attributable to Costco increased by 29.2% to $598m. The retailer’s reported results would have been even stronger without the impact of lower ga...

Accounts for Costco's business in Australia show that the retailer's revenue grew 43.5% for the year to 31 August 2014, with sales peaking at AU$878.5m. New store, customer and volume growth Revenues surged from the AU$612m posted the previous year as the retailer doubled its portfolio to six depots, with new openings in Ringwood, Melbourne and Crossroads, Sydney in November 2013, plus its ...

Following the launch of its store on Alibaba’s Tmall online marketplace in China, Costco has seen a strong initial response from shoppers. $6.4m sales in first month Costco opened its store on Alibaba's Tmall online marketplace last October, offering a range of imported food and healthcare goods, including its Kirkland Signature private brand ranges. In an update on the performance of Tmal...

As Costco announces strong Q1 2015 results, we look at how the retailer continues to develop its growth strategy in store expansion, online and through new engagement initiatives to drive traffic. Total sales up 7.4% Costco's net sales were up 7.4% to $26.3bn in Q1. Net income increased by 17% to US$486m for the quarter. Comparable sales, excluding negative impacts from gasoline deflation a...

Costco has opened its flagship store on Alibaba's Tmall online marketplace. The store now carries mainly imported food and healthcare goods including its Kirkland Signature private label. It's driving traffic by ensuring quality of its all imported products and offering discounts and free delivery for some items. Testing new ecommerce models Entrance to China's ecommerce market is part of Cos...

Costco delivered an impressive performance in the final quarter of the year. Total revenue increased 9.3%, comp store sales were up 7% and net income rose 13.0%. As the retailer focuses on its new financial year, we take a look at what’s shaping its strategy. Increasing capital expenditure Over the last two years Costco has picked up the pace of new store openings, with...

A number of US retailers, including Walmart, Costco and Fresh Direct have committed to displaying unit-pricing information on their websites. Enabling consumers to make quick price comparisons Walmart, Costco, Fresh Direct, Walgreens, CVS and Drugstore.com will make this information available on their websites and mobile apps within the next nine months. This will benefit consumers, enabli...

Costco’s third quarter revenue increased by 7.1% to $25.8bn, with comparable store sales (ex-fuel and currency impacts) up 6%. Net income attributable to Costco increased by 3.1% to $473m. Food categories deliver solid performance These results reveal an improving performance versus the previous quarter, although they continue to be negatively impacted by exchange rate movements. Food ca...

Costco has opened its first store in Spain this week located in Seville. Potential in Spain Although the US is key, accounting for over 70% of warehouses and turnover, Costco is becoming increasingly international; half of all warehouse openings in 2013/14 will be outside the US. Seville provides Costco with access to a population of a million people within a half-hour's drive of the store....