Costco news

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...

Costco has received planning approval to open its first depot in the Australian state of Queensland. Decision signals entry into fourth state Member club cash and carry operator Costco has been given planning to open its first depot in Brisbane. The development will see the retailer enter a new state, building on its existing coverage where it already has stores in ACT, New South Wales and...

Costco UK has launched a new online only subscription, open to all, and unlimited by any warehouse membership criteria, providing universal access to Costco.co.uk. The £15 annual payment allows consumers to purchase at the club member rate across the full range of the online offer. Online provides wider range than depots Launched in October 2012, the Costco UK online ordering service is a s...

Last week we examined how retailers in Australia are creating formats that are strengthening multi-channel competition. However, moving from the macro environment and drilling down further, retailers and suppliers are progressively starting to evolve their strategies to become shopper and insight led, with differentiation a word that we are increasingly hearing. An area we are likely to see i...

With the changing dynamics of an increasingly competitive and unique grocery market, Australian retailers continue to drive strong growth, relative to their counterparts in other developed nations. However, despite a highly concentrated network of supermarkets, there remains much headroom to sweat more from existing bricks and mortar assets across all channels. International retailers creati...

Costco’s second quarter sales, for the 12 weeks to February 17, increased by 8.2% to $24.3bn, with comparable store sales (excluding the impact of fuel and currency), up 5%. Net income attributable to Costco increased by 38.8% to $547m. A resilient model despite economic headwinds Costco delivered a strong set of results for the quarter, despite the headwinds of higher payroll taxes and ...

In an interview with Les Echos, Costco France’s Country Manager, Gary Swindells, has outlined the retailer’s ambition to build a network of 15 outlets in the country over the next five to ten years. France market entry part of broader European growth strategy The retailer’s first outlet in France is expected to open in Bussy-Saint Georges, Paris, in 2015, marking Costco’s first expansi...

It has been revealed that US-based global warehouse club operator, Costco will open a further two depots in the UK during 2013 taking its total number of units in the country to 25.  This will make 2013 something of a bumper year for Costco.  In its twenty years of operating in the country new openings have averaged little more than one every twelve months. Depot twenty-four for Farnborough, Hamp...

Costco's performance in Australia appears to be going from strength to strength, with revenue for the 53 weeks to 2 September 2012 more than doubling on the previous year and profits turning positive for the first time. Strong sales and profits In the retailers FY to 2 September 2012 Costco Australia saw revenues more than double to AU$609.5m and net profits reach AU$9.73m. The rapid incre...

With the 47th Superbowl taking place next Sunday, February 3rd, the major US grocery retailers are focusing this week on maximising the trading opportunities. As the largest sporting event in the US, and one of the largest globally, what are the key focus areas for the retailers? Game themed flyers used almost universally With weekly flyers a key promotional tool for retailers in the US , m...