Costco news

Costco’s first quarter net sales increased by 5.4% to $24.5bn, with comparable store sales (excluding fuel and currency impacts) up 5.0%. Net income attributable to Costco increased at a slower rate of 2.2% to $425.0m, mainly due to higher than anticipated operating expenses. Fresh foods among best performing departments This was another solid performance from Costco overall, although pro...

Google has added Costco to the range of retailers which are now part of its same-day delivery service, Google Express, which is operating in the San Francisco area. Google Express launched in September following testing Google started its same-day delivery just over a year ago in the San Francisco area, testing the service with its own employees. Building on this, in September, Google opened...

This week has seen Costco open its two latest depots in Australia, taking its total store numbers in the country from three to five. New stores in both Melbourne and Sydney With the opening of its new depot in Ringwood, east Melbourne on 20 November and Crossroads, south west Sydney on 21 November, Costco Australia will for the first time operate two stores in the same city. Both new stores w...

Having been refused permission to develop a site at  Bussy-Saint-Georges, Costco has named Villebon-sur-Yvette as the location of its first depot in France, scheduled to open in 2015.  Like Bussy, Villebon is a growing surburban development of Paris and lies just 14 miles from the centre of the capital. Strong catchment for Costco model Villebon-sur-Yvette lies just south of Paris, adjacent t...

Costco has launched its e-commerce site in Mexico, offering 3,800 products, the majority - 80% - of which are only available online. Extend reach into new cities and gauge demand Costco has 34 stores in 19 Mexican states and hopes the site will not only reach new locations. It also hopes to determine, via the levels of demand for online shopping, which areas it should be looking to move ...

At last week's Costco full year results briefing, the retailer's chief financial officer said that it is seeing premium growth rates from its international business, with Australia its star performer. Highest per share volume ever in a country Richard Galanti said that when the retailer opened in Australia it record its highest per share volume ever in a country. In fact, from our visits to tw...

Costco reported a 6.0% increase in net sales for the fiscal year ended 1 September 2013 to $102.9bn, with comparable store sales up 6%.  Operating income rose by 10.7%, to  $3,053m, for the full fiscal year. Sales increased by 1.0% in the fourth quarter, although this was a 16 week quarter, versus 17 weeks in 2012, with comparable store sales up 5%. First outlets to open in Spain next yea...

With the location for what would be its third store in Sydney now secured, Costco continues to accelerate expansion into the Australian market. Clearly evolving strategy to build scale in Sydney Having initially been dismissed by the local council, the decision for a new Costco at Marsden Park in north west Sydney has been overturned. The new Costco warehouse would generate 330 new jobs in t...

At IGD, we are keeping an eye on the online grocery channel around the world. Here, we take a closer look at the US market, including latest developments and innovative new retailers to watch. Online grocery is becoming a major priority for US retailers Although it is niche today, technology is empowering shoppers to transact anytime, anywhere, and a growing number of start-ups and tradit...

Costco’s net sales over the third quarter increased by 7.8% to $23.6bn, with comparable store sales increasing by 7% (ex-fuel and currency impacts). Net income over the period increased by 18.9% to $459.0m. Increased visit frequency driving sales growth Costco delivered another strong quarter, driven predominantly by a stronger visit frequency while average transaction remained broadly fla...