Costco news

Costco is set to open its 10th Australian warehouse next month in Melbourne. Fourth store to open in Melbourne The new store is due to open on Wednesday 29 August and will mark a milestone for the retailer. The store will be located in the suburb of Epping, to the north of the city and will be Costco's fourth store in Melbourne. Alongside the standard Costco offering, the store will feature...

Costco Canada is testing a new two-day grocery delivery service in southern Ontario. Orders fulfilled at Business Center The new service enables members to qualify for free two-day delivery for orders over $75. They will be able to shop a broad range of grocery, consumable and health and beauty categories, although perishable categories will not be included as part of the initial pilot. The...

Costco Japan has announced plans to launch an online store next year. New online store in 2019 Costco's new ecommerce service will aim to capitalise on growing popularity of online shopping in Japan. It will be particularly relevant to those looking to purchase in bulk, taking advantage of home delivery for heavy but essential items such as water and rice. Full details of the service suc...

We review Costco’s third quarter results, including its plan to invest in higher starting wages. Strengthening performance across the business Costco’s third quarter revenue increased by 12.1% to $32.4bn, with net income up 7.1% to $750m. Comparable store sales, excluding fuel and currency impacts, increased by 10.2%. This was almost twice as strong as its performance in Q2. The retailer’s ...

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...