Costco news

Following a relative reluctance to develop its ecommerce business to include a store pickup service, Costco is testing a curbside model at stores in New Mexico, USA. Optimising its partnership with Instacart Although Costco has operated an online non-food business for several years, it wasn’t until 2017 that it started to offer a grocery-focused service. Launching three and a half years ago...

We review Costco’s first quarter results and how the underlying strength of its proposition is driving up traffic and basket size. First quarter key numbers Net sales increased 16.9% to $42.4bn Comparable stores sales (ex-fuel and currency impacts) increased 17.1%, with US up 17.0%, Canada up 16.8% and other international up 17.7% Ecommerce comparable sales were up 86.2% Net inc...

We review Costco’s fourth quarter and full year sales, including the outlook for the holiday season, ecommerce development and further expansion. Key numbers Q4 net sales increased 12.5% to $52.3bn Comparable store sales increased 14.1%, ex-fuel and currency impacts; 13.6% in the US, 12.6% in Canada and 18.8% in other international markets Comparable ecommerce sales increased 91.3%...

Accounts filed by warehouse club operator, Costco UK, for 2018/19 show its sales increased by 2.9% to reach £2,618m over the 12 months.  Operating profit rose by 32.4% to £19.2m, with operating margin up to 0.7%. Currently operating 29 warehouses Costco added one further warehouse in the course of the year, at Stevenage, bringing its UK total to 29.  As with other new sites, Stevenage inclu...

Building on an earlier pilot, Costco Canada and Instacart are partnering for a national same-day grocery delivery programme. On-demand delivery Same-day delivery will be offered from 76 of Costco Canada’s 101 outlets. The national roll-out follows on from a two-month pilot in Ontario. Although Costco Canada has offered a non-food, home delivery ecommerce proposition for several years, this ...

Costco's sales continue to improve, with net sales in June up 11.1% to $16.18bn. This reflects the shift towards one big shop and Costco's strength in this area. Strong growth across its markets The performance in June builds on the progress made in May, when net sales increased 7.5% to $12.6bn. During the month of June, sales were up in all regions, with the US growing by 11%, Canada up 8....

We review Costco’s May performance as trading evolves into a more normalised pattern and retailers start to adjust their strategies to win the one big shop. Asia recovery underpinning bounce-back Following a decline of 1.8% in April, including a fall of 0.5% in comparable club sales, the retailer’s performance bounced back in May. Net sales increased 7.5% to $12.6bn. Comparable club sales, ...

We review Costco’s Q3 results, including how it’s adapting to a more normalised trading environment. Key numbers Net sales for the quarter increased 7.3% to $36.5bn Net sales, year-to-date are up 7.8% at $111.0bn Q3 comparable club sales, excluding currency and fuel impacts, were up 7.8%, including growth of 8.0% in the US, 3.0% in Canada and 12.2% in other international markets ...

We review Costco’s April performance as social-distancing measures impacted traffic and sales. Net sales fall 1.8% Costco’s net sales in April fell 1.8% to $11.4bn, while comparable stores sales fell 0.5%, excluding the impact of fuel and foreign currency movements. Comp sales were flat in the US, down 5.0% in Canada and up 2.0% in other international markets. The performance was impacted b...

The retailer will open a new store in Suzhou, an eastern city near Shanghai. It will the company’s third location in the country. Expanding presence and targeting middle class shoppers The retailer is planning for a warehouse store with a floor area of more than 50,000 sq m in Suzhou New District.  It opened its first store  in Shanghai in August last year. Earlier this year, the re...