Costco closes in on $5 billion in annual web sales - Information portal

Costco closes in on $5 billion in annual web sales

(no votes)

05.10.2015 Количество просмотров 314 views
Costco, No. 11 in the Internet Retailer 2015 Top 500 Guide, broke out final earnings for the 2015 fiscal year. While comparable sales for its 686 warehouses grew 1%, the web grew 20 times faster and accounted for about 22% of the growth in net sales. Those metrics are about in line with increases Costco has recorded in previous years.

In the past year Costco continued to expand its inventory online, chief financial officer Richard Galanti told Wall Street analysts Thursday on the year-end earnings call. Costco also sees growth in its e-commerce channel as consistent. “We’re pleased with the fact that sales for the last two, three years, at least, (web sales) have been on a year-over-year comparable basis around 20%,” Galanti told analysts according to a transcript on “We’re doing it methodically and we’re not going to go crazy out there.”

Costco continues to add more basic items to its web inventory, Galanti told analysts. “We certainly expanded to some extent the SKU selection and added what I would call more frequently purchased items, be it food and sundries or a few office needs, everything from, again, sundry items to health and beauty aids, K-cups, [a] few apparel items,” he told analysts. “And so we’ve expanded that. We took certain key departments and brought them online.”

Despite its classification as a mass merchant in the Top 500 Guide, is not trying to become “all things to all people,” Galanti said. “We’re recognizing that we can’t be everything to everybody, that’s not what we do for a living but we have great value,” he told analysts.

Source:  Retail&Loyalty


  from 27.02.2017 to 4.02.2017 Loyalty Expo 2017  
  from 7.06.2017 to 8.06.2017 8th International PLUS Forum “Cards, Payments and Mobile 2017”  
  from 12.06.2017 to 14.06.2017 Global E-commerce Summit 2017  
  All Events - only
the main news on the Market!