Costco news

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 ...

In accounts submitted to Companies House, Costco UK has recorded turnover of £2,545m for the year to September 2018.  This is up an estimated 9.9% on an equivalent 52-week basis with 2017.  Profitablility improved with gross margin for the year edging up to 2.8% from 2.7%. Fuel a key driver With two further fuel forecourt sites added to existing warehouses (Edinburgh and Glasgow) in the yea...

Costco Wholesale Corp. is set to open its first bricks-and-mortar warehouse in China this August. A business based on membership strategy After setting up an online store on Alibaba’s Tmall five years ago, the U.S wholesaling giant is to open its first physical warehouse in Shanghai’s Minhang district on the 27 th of August. Costco’s model in North America has been based on families buyi...

Costco has announced that it will open its first store in New Zealand. Auckland's Westgate chosen for first store The new 14,000 sq m membership club store will be located at Westgate on the north western edge of Auckland. It will provide a new retail destination for the city, with 800 parking spaces and include groceries, electronics, homewares, plus fuel, a tyre centre, an optometrist and...

Costco saw its third quarter net sales increase 7.4% to $34.0bn, with comparable club sales up 5.6%. We look at the drivers behind its continued strong performance and the outlook at it gets set to open its first club in China. Ecommerce sales up 20.0% The momentum in Costco’s sales performance was supported by its fast-growing ecommerce business, with comp sales up 19.5%. This excludes its...

Costco delivered another solid quarter. We look at the drivers behind its performance and ecommerce development plans. Strong traffic and membership trends Costco’s second quarter total revenue increased by 7.3% to $35.4bn. Comparable store sales increased 6.7%, excluding the impacts of currency, fuel and an accounting change concerning revenue recognition. Net income rose 26.8% to $889m. T...

Costco in Australia has seen revenue grow by 14% to AU$1.8bn (US$1.3bn) in the 12 months to 3 September 2018. New stores and LFL growth boost sales The retailer continues to see good growth in Australia, aided by both new store openings and like-for-like (LFL) growth of between 5% and 6%. As well as strong revenue growth, Costco saw net profit more than double to AU$29.5m (US$21.0m), aided ...

Costco’s first quarter results reveal a strong start to its new financial year. We look at the drivers of growth, including its fast-growing ecommerce operation. Traffic and membership renewals improve Costco’s first quarter net revenue increased 10.2%, with comparable store sales (ex-fuel and currency impacts) up 7.5%. Growth was driven by the US, with comp sales up 8.3%. The retailer also...

infoRETAIL reports that Costco Wholesale plans to open a third store in Spain in 2019. Potential to expand in Spain James Cheesemore, Costco Europe's real estate director said that “Spain has a highly developed retail market and offers good opportunities for expansion and scalability”. Once the urban planning license has been obtained, the US-based group plans to open its third store in Mad...

We review Costco’s fourth quarter performance, including the continued growth of its ecommerce business. Costco: the key numbers Costco’s fourth quarter total revenue increased by 5.0% to $44.4bn Over the period, comparable store sales, excluding currency and fuel impacts, increased by 7.2% Net income increased 13.5% in the quarter to $1.0bn For the full year, total revenue incr...