Costco hits critical mass as sales soar

Original article by Eli Greenblat
The Australian – Page: 13 & 14 : 3-Jan-19

Costco Australia has advised that it posted a net profit of $29.52m in 2018, compared with $13.495m in 2017. Costco now boasts more than 225,000 members and its annual revenue is approaching the $2bn mark. The US-based group currently has 10 warehouse stores in Australia, and analysts believe that there is scope for more than 20 stores. Costco Australia CEO Patrick Noone says the local retail market is very competitive, but the company is enjoying strong sales growth in both food and non-food products.

CORPORATES
COSTCO WHOLESALE AUSTRALIA PTY LTD, WOOLWORTHS SUPERMARKETS, COLES SUPERMARKETS AUSTRALIA PTY LTD, BIG W DISCOUNT STORES, TARGET AUSTRALIA PTY LTD, ALDI STORES SUPERMARKETS PTY LTD, KAUFLAND STIFTUNG & CO KG, AMAZON.COM INCORPORATED

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