Costco news

Following the first store opening in Shanghai in 2019, the retailer has opened its second store in China this month. 70,000 pre-registered Costco members before the opening day The new store is in Suzhou, a city in Jiangsu province, about 100 km (62 miles) west of Shanghai. It is famous for its beautiful gardens and traditional architecture. Before the store opening on 7 December, the ...

In view of the wholesale store boom in China . We take a look at how Costco has performed in the country since its high-profile market entry in 2019. First year sales reached CNY2 bn (US$310m) Costco opened its first China store in Shanghai in 2019. That store achieved sales revenue of CNY2 bn (US$310m) in the first year. Because of COVID-19 restrictions (e.g. social distancing and contr...

We review Costco’s fourth quarter and full year results and the challenges it is seeing with higher costs, shipping capacity and labour shortages. Fourth quarter and full year key numbers Q4 total revenue up 14.8% to $62.7bn, with full year revenue up 17.5% to $196.0bn Comparable sales for the quarter (ex-fuel and currency impacts) up 9.4%, including up 10.3% in the US, 6.7% in Canada...

The country is seeing a wholesale store boom. Yonghui opened its first wholesale store in May 2021, it now has 45 such stores. Local retailers are rushing into the wholesale sector, encouraged by Yonghui’s good results Yonghui opened its first wholesale store in May 2021 by upgrading one of its Bravo YH supermarkets in Fuzhou. Within four months, it has upgraded 45 selected stores into wh...

In its latest accounts filed with Companies House for the year to 30 August 2020, Costco UK has recorded total sales up 15.7% to £3,130m across its combined warehouse and online operations. The core warehouse business, operating from 29 sites across the UK, saw its sales rise 14.5%, all but reaching £3bn for the first time. ‘Food & sundries’ were the key drivers With shoppers focused on sho...

North America’s grocery retailers* added over $100bn in sales last year as the pandemic caused a surge in demand and a shift from out-of-home to at-home dining. We compare this to previous years and identify some of the key winners in 2020. More growth than the previous three years combined Combined sales of over 40 of the region’s largest retailers increased by $103.6bn last year. This i...

Having seen a surge in demand for online grocery retail over the past year, we have remodelled how we expect the channel to grow in Australia over the coming years, predicting that online grocery will achieve a market share of 9.9% by 2026, up from an estimated 5.0% by the end of FY21. COVID-19 has accelerated online grocery by three years in Australia Woolworths and Coles currently control...

Despite facing tough comparables from last year, Costco’s third quarter revenue increased over 20%. We look at what continues to drive an outstanding performance from the leading warehouse club operator. Costco Q3 key numbers Total revenue up 21.5% to $45.3bn Net sales up 21.7% to $44.4bn Comparable sales (ex-fuel and currency impacts) up 15.1% Comparable sales up 15.2% in the U...

Following much speculation, Costco is reported to be entering Sweden in autumn 2022. The leading retailer, which reported revenue growth of 9.1% to $166.2bn in 2020, is due to open its first store north of Stockholm in Täby. 13,000 sq. m premises secured in growing location Trophi , ‘the Nordic region’s leading real estate company in the grocery trade’ has confirmed a contract for ...

We review Costco’s second quarter results as it starts to lap last year's surge in demand driven by the Covid-19 pandemic. Key numbers Q2: Net sales increased 14.7% to $43.9bn Comparable store sales (ex-fuel and currency impacts) increased 12.9% across the company, and by 12.6% in the US, 10.6% in Canada and 17.7% in other international markets Ecommerce sales increased 74.8% Op...