Costco news

From accounts filed with Companies House, Costco UK has reported full year sales of £1,904m for the year ending 30 August 2015.  This represents annual growth of 7.1%, continuing the wholesaler's run of years at over 6%.  Gross profit was up by 14.2%, with gross margin improving to 3.0%.  Strong growth has continued into 2015/16 with Costco has indicating that Q1 (to 22 November 2015) in the UK s...

As Costco reports slowing comparable store sales growth for the third quarter, we look at what’s been driving its performance. Profitability improves as sales growth eases Costco’s third quarter sales increased by 2.5%, with comparable store sales (excluding fuel and currency impacts) up 3%. This included an increase of 8% in Canada, its strongest international performance. Profitability a...

Costco in Australia is looking to further cement its growing popularity with shoppers, through the set up of its first distribution centre and also opening more sites in major cities. Network could grow to 25 stores within four years Costco currently trades from eight stores in Australia and has a presence in Sydney, Melbourne, Canberra, Adelaide and Brisbane. It has already opened more ...

We review Costco’s performance as it reaches the halfway point of its financial year. Canada leads Costco’s sales growth Costco’s second quarter sales increased by 2.6% to $27.6bn, with comparable store sales up 5%, excluding currency and fuel impacts. The retailer saw the strongest performance in Canada, where comp store sales increased by 10%. Other international markets delivered a sol...

Costco in Australia has recorded sales of over AU$1bn for the first time. Sales jump by over 50% The members club cash and carry business in Australia has seen sales jump 50.7% in FY 2015 to AU$1.32bn. Sales were assisted by the growth in both new and existing outlets, with categories such as fresh food in particular, understood to be performing really well. The retailer also saw prof...

Leading global warehouse club operator Costco has announced sales performance for the first quarter of its 2015/16 year, revealing comparable sales down 1% at group level.  However, it achieved a more solid +2% in its core market in the US, where the relative strength of the dollar had no impact. Adjusted performance of +6% Excluding the negative impacts, especially of deflation in fuel sal...

Costco has launched its first ecommerce platform in Asia in South Korea, its first company run venture into online retailing in the region. Soft launch with just 170 SKU's available The move into online retailing means that Costco will be able to significantly increase the number of customers it sells to in South Korea, having only currently got 12 stores trading in the country. ...

We report on the final day of the Asia Pacific Retail Conference and Exhibition (APRCE) in Manila. With a strong focus on future trends, the final day of the event saw a range of speakers outline how they plan to capitalise on growth in the region. Key themes which emerged included the need to invest in creativity to drive in-store conversion, embrace technology, including mobile as part of...

As Costco delivers another year of strong sales and profit growth, we highlight six key takeaways from its results. Headline growth held back by fuel and currency impacts Costco’s full year sales came in at $113.7bn, an increase of 3.1%. These were held back by lower fuel prices in the US, and weaker foreign currencies versus the US dollar. Comparable store sales, strippi...

Costco Mexico has reported a 97% growth in online sales for its fiscal year running from September 2014 to August 2015. Expects similarly strong growth next year Iñigo Astier, director of e-commerce for Mexico, said the wholesaler expects online sales to increase by 60-67% next year. In the two years since its launch, the online channel has enabled Costco to extend its reach into the 13 ...