Costco news

Costco’s second quarter sales increased by 5.8% to $25.8bn, with comparable store sales (ex-fuel and currency impacts) up 5%. Net income attributable to Costco fell by 15.4% to $463m. Profitability impacted by a range of factors The key standout within Costco’s results is the decline in net income. A number of factors impacted the retailer’s profitability during the quarter including weak...

Press reports have revealed that warehouse club operator Costco has begun construction work on its 26th site in the UK. The new warehouse, projected for completion in the late summer is located in Hounslow, close to Heathrow, west London.   Strengthens Greater London presence This will be the fourth Costco within the M25 (and with Thurrock sitting just outside), and it is understood that th...

Having logged its fifth successive year of sales growth since it entered the Australian market, Costco has invested another $110m into further expansion. Sales and profits grow for second consecutive year Documents filed at the Australian Securities and Investments Commission show that Costco Australia saw revenues increase to AU$612m and net profits reach AU$1.81m for the retailer's financ...

As we welcome in 2014, Senior Business Analyst Nick Miles looks ahead and explores some of the trends and developments that we are likely to see emerge from Australia's dynamic and exciting grocery market over the next 12 months. 1. Thinking 'multichannel' will unlock new areas of growth After years of supermarket dominated retailing, the Australian grocery market is becoming increasingly comp...

After launching tests in Seattle and Los Angeles, Amazon Fresh is entering San Francisco. Users have access to an expanded Amazon range of more than 500,000 products, including fresh ranges and products from local suppliers, available for same day delivery.  Competition heating up online San Francisco is proving to be a key e-commerce test market in the US. Over a year ago, Google set up ...

Costco’s first quarter net sales increased by 5.4% to $24.5bn, with comparable store sales (excluding fuel and currency impacts) up 5.0%. Net income attributable to Costco increased at a slower rate of 2.2% to $425.0m, mainly due to higher than anticipated operating expenses. Fresh foods among best performing departments This was another solid performance from Costco overall, although pro...

Google has added Costco to the range of retailers which are now part of its same-day delivery service, Google Express, which is operating in the San Francisco area. Google Express launched in September following testing Google started its same-day delivery just over a year ago in the San Francisco area, testing the service with its own employees. Building on this, in September, Google opened...

This week has seen Costco open its two latest depots in Australia, taking its total store numbers in the country from three to five. New stores in both Melbourne and Sydney With the opening of its new depot in Ringwood, east Melbourne on 20 November and Crossroads, south west Sydney on 21 November, Costco Australia will for the first time operate two stores in the same city. Both new stores w...

Having been refused permission to develop a site at  Bussy-Saint-Georges, Costco has named Villebon-sur-Yvette as the location of its first depot in France, scheduled to open in 2015.  Like Bussy, Villebon is a growing surburban development of Paris and lies just 14 miles from the centre of the capital. Strong catchment for Costco model Villebon-sur-Yvette lies just south of Paris, adjacent t...

Costco has launched its e-commerce site in Mexico, offering 3,800 products, the majority - 80% - of which are only available online. Extend reach into new cities and gauge demand Costco has 34 stores in 19 Mexican states and hopes the site will not only reach new locations. It also hopes to determine, via the levels of demand for online shopping, which areas it should be looking to move ...