Costco news

09 April 2020
We look at Costco’s March sales update and the impact of customers stocking-up during the Coronavirus (Covid-19) pandemic. Strong growth across all regions Costco reports its sales performance each month, with very little change on a month-to-month basis. However, the pandemic had a significant impact in March. For the five-week period from March 2 to April 5, total sales increased 11.7% to...
17 March 2020
Costco has acquired Innovel Solutions, a leading provider of third-party end-to-end logistics solutions, in a deal valued at $1bn. Builds on existing partnership Costco acquired the company from Transform Holdco, which operates the Sears and Kmart stores in the US. Innovel has provided Sears and other retailers with a last-mile delivery solution, including installation, for large, bulky ite...
09 March 2020
We review Costco’s second quarter performance, as it continues to set the pace among global retailers. Comparable club sales up 7.9% Costco’s net sales increased by 10.5% to $38.3bn in Q2, with comparable club sales up 7.9%, excluding fuel and currency impacts. The retailer saw strong growth across its global operations, with comparable sales up 8.1% in the US, 6.8% in Canada and 7.1% in ot...
12 February 2020
Costco Australia is launching online shopping and delivery later this month, but it will be available to members only. Making shopping more convenient Costco members will need to register for an online account to use the new online shopping service. Shipping costs will be included in online prices. Overall prices, however, will be slightly higher than shopping in the warehouses. Costco also...
06 January 2020
Costco in Australia has recorded sales of over AU$2bn for the first time. Growth of over 18% The retailer's Australian revenue was recorded as AU$2.159bn for the 52 weeks to September 2019, up 18.5% from AU$1.822bn in 2018. Its operations in Australia continue to perform well, with growth accelerating against the 14% growth recorded in its 2018 financial year. Costco now has 11 store tradin...
13 December 2019
Costco’ new financial year saw a continuation of the strong results of the last year. We review its performance and how new ecommerce initiatives and its launch in China have contributed to its growth. Comparable club sales up 5.0% Costco’s Q1 net sales increased 5.6% to $36.2bn, with comparable club sales up 5.0%. Canada led the way with comparable club sales up 5.1%. Comparable ecommerce ...
04 December 2019
Last year, Costco Japan announced plans to launch an online store . We are now beginning to see the wholesaler make progress. Costco online shopping coming soon In preparation of launching its online shopping platform, Costco Japan has revamped its corporate website . The wholesaler has introduced a new AI ChatBot system and is advising shoppers to prepare by registering online to creat...
04 October 2019
We review Costco’s fourth quarter performance and the drivers behind its strong performance. Costco: the key numbers Costco’s fourth quarter total revenue increased by 7.0% to $47.5 bn Over the period, comparable store sales, excluding currency and fuel impacts, increased by 5.1% Net income increased 5.2% in the quarter to $1.1 bn For the full year, total revenue increased by 7....
27 August 2019
Costco has opened its first warehouse in China today (27 th of August). The warehouse brings members the best possible price on quality items by selling in large quantities. Its communication channels have also been tweaked to adapt to the China market. New store the same size as three football pitches Located at Lianyou Road, Minhang District, the membership-only wholesaler continues its ...
29 July 2019
We look at Costco’s new digital membership card and what this could mean for the retailer and its members. Ability to deliver more relevant and personalised offers Costco has added a digital membership card to its app, enabling customers to enter its clubs and check-out without the need for a physical card. While other retailers have offered this capability for several years, and itself is ...