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Costco’s Revenue by Region (2016 – 2021)

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This statistic highlights Costco’s Revenue by Region from 2016 onwards, split between Canada, International and United States.
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This statistic highlights Costco’s Revenue by Region from 2016 onwards, split between Canada, International and United States.

Costco Wholesale Corporation is an American multinational corporation that operates a membership-based retailing chain. The retailer operates warehouse clubs or wholesale clubs, which sell large amounts of items at substantially discounted prices to club members who pay an annual membership fee. It is one of the world’s largest wholesalers and it generates revenue from membership fees and net sales.

Costco’s Revenue by Region

Costco Wholesale Corporation generates its revenue from the following regions:

  • Canada
  • International
  • United States

The following table sheds more light on each of the regions and their contribution to the company’s overall top line.

Q3 2020 Q3 2021 YOY Growth in 2021 Revenue Share in  Q3 2021
Canada $4.72 $6.30 33.47% 13.91%
International $4.92 $6.22 26.42% 13.74%
United States $27.63 $32.76 18.57% 72.35%
Total $37.27 $45.28 21.49% 100.00%

(All the figures in billions, except percentages)

Costco’s total revenue increased from $37.27 billion in Q3 2020 to $43.28 billion in Q3 2021, marking an increase of 21.46% on a year-on-year basis. The majority of Costco’s revenue comes from the United States. Costco’s membership renewal rate was 91% in the USA and Canada and 88% internationally at the end of 2020.

Canada

Costco’s revenue from Canada rose from $4.72 billion in Q3 2020 to $6.30 billion in Q3 2021, a growth of 33.47% on a year-on-year basis. In Q3 2021, Canada contributed 13.91% to the company’s total revenue.

International

The international region includes countries such as Mexico, Japan, Korea, Taiwan, Australia, Spain, Iceland, France, and China.

Costco’s revenue from the international region rose from $4.92 billion in Q3 2020 to $6.22 billion in Q3 2021, marking a  26.42% growth on a year-on-year basis. In Q3 2021, this region contributed 13.74% to Costco’s total revenue.

United States

A majority of Costco’s revenue comes from the United States, which contributed about 72.35% of total revenue in Q3 2021 amounting to $27.63 billion. There was a 32.76% increase in revenue compared to Q3 2020 where the revenue generated was $27.63 billion.

At the end of May 2021, Costco operated 809 warehouses worldwide, of which 559 in the United States, 105 in Canada, and 145 in the international region. In addition, the Company maintains e-commerce websites in the United States, Canada, Mexico, the United Kingdom, Korea, Taiwan, Japan, and Australia.

Company Overview

Costco Wholesale Corporation was founded by James Sinegal and Jeffrey Brotman in 1983. The company’s main office is located in Issaquah, Washington, United States. W. Craig Jelinek is the current CEO of the company.  The company offers its services in Food and Sundries, Hardlines, Fresh Foods, Softlines, and Ancillary. Costco’s stock trades on the NASDAQ Global Select Market, under the symbol “COST”.

Costco Wholesale Corporation faces tough competition from Walmart Inc. and Target Corporation. In March 2020, the company acquired Innovel Solutions for $1 billion, a firm that provides final-mile delivery, installation, and white-glove services for large and bulky products across the United States. Costco is planning to open warehouses for the first time in New Zealand, and Sweden in 2022. In 1993, Costco and Price Club agreed to merge their operations, after rejecting an offer from Walmart to integrate Price Club with their retail chain.

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