Costco news

28 September 2022
Costco’s fourth quarter results revealed a strong finish to the year with total revenue exceeding $220 bn. We look at the factors underlying this performance and what to expect in the year ahead. Fourth quarter and full year key numbers Q4 total revenue up 15.2% to $70.8 bn, with full year revenue up 16% to $222.7 bn Comparable sales for the quarter (ex-fuel and currency impacts) up 1...
17 August 2022
As Metcash looks to invest in prices to remain competitive and launches SupaValu from IGA in Melbourne, Amazon offers free one-day delivery for Prime members, amongst other developments, we round up news from the market. Metcash aiming to remain price competitive… Metcash-owned IGA and Foodland stores, according to reports from The Australian, are aiming to remain price competitive by focus...
27 June 2022
Latest accounts filed with Companies House show the UK operation of global warehouse club operator Costco saw its sales rise by 14.4% in the year to 29 August 2021, reaching £3,582m over the 12 months. This is the wholesaler’s second year of double-digit growth over the pandemic period, following its +15.7% performance in the year to 30 August 2020 . Outstanding ‘pandemic’ result with broad...
27 May 2022
While most retailers have seen inflation benefit their top line in their latest quarterly performances, many have seen their profitability dip. Unable to pass on the full impact of higher costs to customers, or reduce costs in other parts of their business given the rapid run-up in inflation this year, margins have been impacted. But Costco has fared better. We look at how it outperformed its pee...
07 March 2022
Costco’s net sales increased 16.1% in the second quarter, maintaining its strong pace of growth despite tough comparables from last year. Against this backdrop of growth, we look at how it is navigating cost and supply chain challenges. Q2 key numbers Net sales increased 16.1% to $50.9 bn Comparable sales (ex-fuel and currency impacts) up 11.3% in the US, 12.4% in Canada and 9.0% in o...
05 January 2022
Building on its recent out-performance, Costco delivered its highest-ever sales growth for the month of December. Net sales up 16.2% As one of the first global retailers to report on its holiday performance, Costco’s results provide a great read on consumer sentiment, especially in North America, which accounts for over 86% of its sales. Sales in December increased 16.2% globally to $22.2bn,...
13 December 2021
Costco delivered an outstanding first quarter with total sales up 16.7%. We look at what’s behind this performance and some of the challenges it’s experiencing. Costco Q1 key numbers Total revenue up 16.6% to $50.3 bn Net sales up 16.7% to $49.4 bn Comparable sales (ex-fuel and currency impacts) up 9.8% Comparable sales up 9.9% in the US, 8.3% in Canada and 10.9% in other intern...
10 December 2021
Following the first store opening in Shanghai in 2019, the retailer has opened its second store in China this month. 70,000 pre-registered Costco members before the opening day The new store is in Suzhou, a city in Jiangsu province, about 100 km (62 miles) west of Shanghai. It is famous for its beautiful gardens and traditional architecture. Before the store opening on 7 December, the ...
08 October 2021
In view of the wholesale store boom in China . We take a look at how Costco has performed in the country since its high-profile market entry in 2019. First year sales reached CNY2 bn (US$310m) Costco opened its first China store in Shanghai in 2019. That store achieved sales revenue of CNY2 bn (US$310m) in the first year. Because of COVID-19 restrictions (e.g. social distancing and contr...
24 September 2021
We review Costco’s fourth quarter and full year results and the challenges it is seeing with higher costs, shipping capacity and labour shortages. Fourth quarter and full year key numbers Q4 total revenue up 14.8% to $62.7bn, with full year revenue up 17.5% to $196.0bn Comparable sales for the quarter (ex-fuel and currency impacts) up 9.4%, including up 10.3% in the US, 6.7% in Canada...