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Costco news

08 March 2019
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...
04 January 2019
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 ...
14 December 2018
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...
09 October 2018
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...
08 October 2018
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...
27 August 2018
Costco has opened its 100th store in Canada, hitting the major milestone with a new club in Edmonton. One of Costco’s most successful international markets Canada continues to be a major success for Costco, with the retailer opening seven new clubs last year, its fastest pace of new space development for several years. Costco continues to see significant opportunities for further growth in ...
25 July 2018
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...
19 July 2018
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...
19 June 2018
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...
04 June 2018
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 ...