Costco news

Costco UK has filed its latest accounts with Companies House revealing turnover (including its online sales) for the 53 weeks to 3 September up 14.7% to £2,382m, representing 52-week pro rata growth of 12.6%. The business currently operates 28 warehouses, with the target of growing that number to 35 to 40 in the longer term. With its ongoing focus on offering the lowest possible prices, gross ...

Costco is turning to China as its next destination to establish a physical presence. First store in China next year Costco has been trading on Alibaba's marketplace Tmall since 2014, selling for example, branded healthcare and personal care items. The American wholesaler has now signed an agreement with Shanghai Pudong Kangqiao Group to set up its Chinese headquarters in Shanghai’s Pudong d...

Patrick Noone, Managing Director of Costco Australia, has provided an insight into what the retailer has planned for its private label strategy, future expansion and online operations. Growing focus on Australian made private label Costco this week launched a new Kirkland Signature toilet paper, which is made in South Australia and in the future plans to look at how it sources and sells all...

Costco is partnering with Blue Apron to offer a range of meal kits at its clubs in the Pacific Northwest and San Francisco Bay area. New range of meals developed for Costco This is the first time that Blue Apron is making its meal kits available in retail stores, having built its business on a subscription-based model. The company is providing Costco with a range of specific meals which rot...

We review Costco’s second quarter results and the impact of its ecommerce programs. Ecommerce sales up 27.3% Costco delivered a solid second quarter performance, with total revenue up 10.8% to $33.0bn. Net income over the period increased by 36.1% to $701m. Comparable store sales increased by 5.4%, led by its international markets. Ecommerce sales continue to grow at a rapid pace, up 27.3% ...

Costco has revealed that it will be opening a first outlet in Perth, Western Australia, with the store to open by 2020. West coast competition to heat up further The new 14,000 sq m store will open close to Perth Airport, with Western Australia being the sixth state that the retailer will enter in the market. The move comes just a few years since Aldi entered Western Australia and continues...

We review Costco’s first quarter performance, including delivering ecommerce sales growth of over 40%. Results boosted by timing of key holiday trade Costco’s first quarter revenue increased by 13.2% to $31.8bn, with comparable store sales, excluding fuel and currency impacts up 7.9%. This included comparable store sales growth of 8.7% in the US, 4.3% in Canada and 8.2% across its other int...

We review Costco’s fourth quarter and full year performance, and its launch of two new grocery delivery services. Our view: success through uniformity Both the Q4 and FY results reflect the enduring strength of the Costco business model. During a time when other retailers are focusing on shrinking their store formats, localising their offers and driving more personalisation, Costco can delive...

The wholesaler has plans to start offering a delivery service for business customers in the Melbourne metropolitan area. Fresh and dry groceries available for delivery The retailer has set up a dedicated website ( www.costcowholesaledelivery.com.au ) for business customers, indicates that the retailer will deliver products to locations within 10km of its Docklands outlet. The customer must ...

Costco Wholesale has launched a flagship store on Alibaba's Tmall as it looks to further expand the products it sells to Chinese consumers. One step closer to opening physical stores Costco started selling in China three years ago, on Alibaba's cross-border e-commerce channel Tmall Global. By operating on both platforms, Costco will be able to offer nearly 800 SKUs to customers in China, ab...