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Costco UK sales hit £3bn

Membership warehouse retailer, Costco, saw a 14.4 per cent increase in UK sales. Sales at the US giant, which has stores in Bristol and Birmingham, were… View Article

FOOD & DRINK

Costco UK sales hit £3bn

Membership warehouse retailer, Costco, saw a 14.4 per cent increase in UK sales.

Sales at the US giant, which has stores in Bristol and Birmingham, were up to £3.5 billion in the year ended August 2021, boosted by an increase of shoppers during the Covid-19 lockdown.

This is Costco’s second year of double-digit growth, after a rise of 15.7 per cent in the same period in 2020, as reported by Retail Gazette.

Costco’s online sales were up 69 per cent to £256 million in 2020/21.

Commenting on the figures, IGD’s Retail Analysis’ senior retail analyst Patrick Mitchell-Fox said: “This second year of exceptional growth shows how even after the early phases of pandemic panic-buying were over, Costco was able to sustain strong sales growth as shoppers sought to make fewer trips and keep larger stocks of food and drink at home, especially while the out-of-home sector remained impacted by public health restrictions.

“In addition to strong demand for its food, drink and household ranges Costco also benefited from shoppers seeking to enhance their home environments with spending on electronics, furniture and garden products.”

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