TOPIC

/ company

Costco

The latest news, analysis and opinion on Costco. In-depth analysis, industry insights and expert opinion.

Chairman / President

Hamilton E. James

CEO / Managing Director

W. Craig Jelinek

CFO / Finance Director

Richard A. Galanti

Industry

Retail

Website

costco.com

Headquarters address

999 Lake Drive, Issaquah, WA 98027, USA

Stock Code

NASDAQ:COST

Year founded

1983

last updated:

2 October, 2024

Shoppers stock up at one of DCH’s stores. The retailer was established in 1985 and provides frozen foods, seafood, meat and poultry, among other goods. Photo: Jelly Tse

Hong Kong economy

Hong Kong’s Dah Chong Hong Food Mart to shut stores after 39 years in business

Spokeswoman for food retailer confirms company closing down 28 stores across city.

15 Mar 2024 - 8:01PM

Hong Kong society

My Take | Hong Kong is losing competitiveness to cities on the mainland

12 Mar 2024 - 9:00PM

Australia

More Australians turn to shoplifting groceries as food prices remain high

9 Feb 2024 - 6:06PM

Hong Kong economy

Letters | What Hong Kong can learn from child-friendly Shenzhen

Readers discuss the Shenzhen government’s intiatives to improve the city, and the effect of an influx of tourists on ordinary people’s lives.

6 Feb 2024 - 11:30AM

A boy plays chess with a robotic arm powered by artificial intelligence at a Sam’s Club in Qianhai, Shenzhen, on January 7. While Hongkongers are showing great interest in heading north to shop in megastores, Shenzhen also offers some lessons in urban planning. Photo: Eugene Lee

China's economic recovery

China’s rose-tinted growth scrutinised through jaundiced eyes of wary foreigners

Challenges related to national security, data flows and market barriers still dominate hearts and minds, fuelling doubts about increasing investments in China, as well as contemplations about exploring overseas opportunities.

29 Jan 2024 - 6:00AMvideocam

Hong Kong economy

Businesses on Hong Kong side of border struggle amid dwindling mainland shoppers

Empty shops, measly sales leave shop owners hoping talks on visa scheme will bring back day trippers.

21 Jan 2024 - 8:30PM

Hong Kong economy

Opinion | Why Hongkongers should resist Costco FOMO

Fear of missing out on the latest trend or a great bargain may be motivating Hongkongers to make a beeline for big-box retailers across the border. However, the wider economic and environmental impact of this style of retailing deserves attention.

21 Jan 2024 - 4:30PMvideocam

A boy sits in a trolley next to a giant Lotso stuffed toy at the newly opened Costco in Shenzhen on January 13. The American retail chain is just the latest shopping attraction to lure Hongkongers across the border. Photo: Eugene Lee

SCMP Highlights

Bad luck in Year of the Dragon, Filipinos turn on comic Jo Koy: 5 weekend reads

From beating bad luck predictions for your Chinese zodiac animal to the Taiwan election, here are stories you may have missed over the weekend.

15 Jan 2024 - 12:49PM

Hong Kong economy

Hong Kong Liberal Party’s departure tax proposal slammed as ‘insensitive’

Departure tax proposal ‘sends the wrong signal’ and will hit thousands of Hongkongers crossing border to shop, policy experts say.

14 Jan 2024 - 8:33PM

Hong Kong society

Costco crowds decrease, but Hongkongers still keen to bag bargains in Shenzhen

Post identifies cut-price foodstuffs as among most sought-after buys at new Shenzhen Costco bulk sales store.

14 Jan 2024 - 3:04PM

Sets of Samsonite luggage fly off the shelves on the second day of sales at the new Costco warehouse store in Shenzhen. Photo: Eugene Lee

Hong Kong economy

Hong Kong welcomed 34 million visitors in 2023, surpassing forecast

Dane Cheng, executive director of Tourism Board, reveals number of visitors in 2023 surpassed original forecast of 30 million.

13 Jan 2024 - 4:58PM

A view of Victoria Harbour from The Peak. About 4 million visitors came to Hong Kong in December last year. Photo: Xiaomei Chen

Hong Kong economy

As Shenzhen megastores spark bulk-buying frenzy, can Hong Kong shops fight back?

High rent and labour costs make it hard for megastores to set up in Hong Kong without government help.

13 Jan 2024 - 8:30AM

Hong Kong society

Hongkongers queue for more than 2 hours as they flock to new Shenzhen Costco

‘To be honest, I was a little disappointed because the queue was really long and my shopping experience was not worth it,’ one says.

12 Jan 2024 - 9:03PM

Hong Kong economy

Hongkongers hunt for roast chicken, other bargains at US warehouse store in Shenzhen

Residents catch cross-border buses and sign up for shopping spree tours to visit Sam’s Club outlet in Qianhai, buoyed by bargain prices and strong Hong Kong dollar.

10 Jan 2024 - 12:17AMvideocam

Hongkongers at a Sam’s Club outlet in Shenzhen stock up on goodies. Photo: Eugene Lee

Hong Kong economy

Bulk buying megastores in Shenzhen may lure even more Hongkongers over border

Stores could further drain customers away from Hong Kong retailers and replicating the big box stores in city may be impossible, given land and logistics costs.

10 Jan 2024 - 12:19AMvideocam

Costco Wholesale’s new store in Shenzhen’s Longhua district opens next Friday. Photo: Longhua Government Online

Business of climate change

Exclusive | Top maker of Christmas trees to offer eco-friendly version from global factories

Polygroup, the biggest manufacturer of artificial Christmas trees in the world, sells to retailers and e-commerce companies in over 25 countries worldwide, helping eco-conscious customers avoid buying natural trees during the festive season.

23 Dec 2023 - 5:08PM

Food and Drinks

Mouthing Off | Souvenirs you can get your teeth into: why I love food shopping overseas

Visiting a country’s supermarkets and stores tell you a lot about its culture and how its citizens live. What’s more, you can compare prices with those back home and find tasty souvenirs.

20 Dec 2023 - 7:45AM

Food and Drinks

Mouthing Off | Are self-checkouts good or bad? Why we shouldn’t say goodbye to cashiers

Self-checkouts and self-ordering machines are everywhere in Hong Kong nowadays but come with their problems – and many people still prefer interaction with real human cashiers.

7 Dec 2023 - 7:45AM

A shopper buys goods at a self-checkout machine at the Taste supermarket in Amoy Plaza, Kowloon Bay, Hong Kong. Self-checkouts and self-ordering have become commonplace in the city, but can create problems. Photo: Roy Issa

Art

In the thick of it: artist’s layered oil paintings convey nature’s many forms

South Korean artist Yi Yi Jeong Eun’s oil paintings on show at Hong Kong’s Ora-Ora gallery are visually striking with their textured impasto – thickly laid lines of paint – and lively embellishments.

19 Nov 2023 - 1:15PM

Fame and celebrity

How does Selling Sunset star Emma Hernan make and spend her millions?

From luxe Charlotte Tilbury face creams to designer dresses and flying her friends private, what does Selling Sunset star Emma Hernan like to splurge her hard-earned cash on?

9 Nov 2023 - 7:00PM

United States

Anger as Hawaii wildfire death toll climbs to 80; residents confront devastation

Authorities said they were opening an investigation into the handling of the fire as congresswoman acknowledges the dangers had been underestimated. Officials estimate it will cost US$5.5 billion to rebuild affected communities.

13 Aug 2023 - 2:16AMvideocam

Building smoulder days after a fire gutted downtown Lahaina in Maui, Hawaii. Photo: Los Angeles Times./ TNS

Macroscope

Macroscope | How China has played a part in cooling US inflation

Tighter monetary policy has undoubtedly contributed to the easing of US consumer price inflation. But the improvement in supply chain flows as China’s economy gained traction also played a part, showing how intertwined the two economies are.

18 Jan 2023 - 1:30AMvideocam

A worker arranges bike frames in a factory producing bicycles and baby strollers in Pingxiang county, in north China’s Hebei province, on December 27, 2022. Photo: Xinhua

Taiwan economy

US and Taiwan poised to sign a ‘rather symbolic’ trade deal

After second round of in-person talks, Taiwan flags ‘possibility of signing early-harvest deals’ on various goods, but analysts question what it could actually get out of a comprehensive pact with Washington.

18 Jan 2023 - 12:18AM

Banking & finance

Macroscope | For markets in 2023, much hinges on how quickly inflation recedes

Inflation is cooling but remains above central banks’ targets, which suggests room for interest rates to rise further, putting pressure on markets amid a global slump.

6 Jan 2023 - 11:05PM

Britain

How living in London is becoming increasingly unaffordable

London is one of the costliest cities in the world to live. Rents are climbing and affordable housing of a reasonable standard is becoming harder to find.

7 Jan 2023 - 12:14AM

London is one of costliest cities in the world to live. Photo: AFP

China-Australia relations

Australia, Taiwan investment grows against backdrop of China concerns

Investment between Australia and Taiwan has grown in both directions this year, as both economies look to diversify trade from mainland China’s slowing economy.

30 Nov 2022 - 9:14AMvideocam

The trade relationship between Taiwan and Australia has increased as both economies look to diversify from mainland China. Photo: Shutterstock Images

China-EU relations

Ports in a storm: Chinese investments in Europe spark fear of malign influence

Cosco stakes in Belgium’s two largest shipping ports and one in Germany renew scrutiny of Chinese ownership of critical EU infrastructure.

31 Oct 2022 - 3:54PMvideocam

Food and Drinks

Her charcuterie boards are so good, student charges US$25,000 for them

A 20-year-old university student shares how she turned her hobby of making charcuterie boards into a business that brings in six figures a year, and which stars like Jessica Alba and Sofia Vergara rave about.

17 Aug 2022 - 4:15PM

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