Costco news

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....

With work on its warehouse number 26 already underway at Hounslow, it has been revealed that the warehouse club operator, Costco now has secured planning permission on two further sites within the M25.  Costco plans to have both new sites trading within 12 months, bringing its warehouse numbers to 28 by the middle of 2015. Sites at Wembley and Sunbury make six within the M25 These new sites...

Following its recent expansion to New York, the online grocery delivery specialist, Instacart, has now launched in Los Angeles. Connecting personal shoppers with customers Instacart, which is based in San Francisco, and initially focused its operations on the Bay area, uses personal shoppers to deliver products to customers’ homes directly. The business currently uses a range of stores in...

Costco’s second quarter sales increased by 5.8% to $25.8bn, with comparable store sales (ex-fuel and currency impacts) up 5%. Net income attributable to Costco fell by 15.4% to $463m. Profitability impacted by a range of factors The key standout within Costco’s results is the decline in net income. A number of factors impacted the retailer’s profitability during the quarter including weak...

Press reports have revealed that warehouse club operator Costco has begun construction work on its 26th site in the UK. The new warehouse, projected for completion in the late summer is located in Hounslow, close to Heathrow, west London.   Strengthens Greater London presence This will be the fourth Costco within the M25 (and with Thurrock sitting just outside), and it is understood that th...

Having logged its fifth successive year of sales growth since it entered the Australian market, Costco has invested another $110m into further expansion. Sales and profits grow for second consecutive year Documents filed at the Australian Securities and Investments Commission show that Costco Australia saw revenues increase to AU$612m and net profits reach AU$1.81m for the retailer's financ...

As we welcome in 2014, Senior Business Analyst Nick Miles looks ahead and explores some of the trends and developments that we are likely to see emerge from Australia's dynamic and exciting grocery market over the next 12 months. 1. Thinking 'multichannel' will unlock new areas of growth After years of supermarket dominated retailing, the Australian grocery market is becoming increasingly comp...

After launching tests in Seattle and Los Angeles, Amazon Fresh is entering San Francisco. Users have access to an expanded Amazon range of more than 500,000 products, including fresh ranges and products from local suppliers, available for same day delivery.  Competition heating up online San Francisco is proving to be a key e-commerce test market in the US. Over a year ago, Google set up ...

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...