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With 782 stores and 99 million membership-card holders worldwide, Costco had a strong 2019, posting an 8% increase in overall revenue. That reflected a 6% boost in same store sales and a 7% gain in membership revenue. Profits, meanwhile, jumped 17%. The company opened its first store in China, located in western Shanghai, last year, and had 139,000 membership sign-ups on its first day of operation there. The retailer has been pushing to expand its ecommerce offerings, including click-and-collect, as well as offering same-day grocery delivery in most of its U.S. locations. It has also begun looking at vertical integration, investing in its own poultry processing plant in Nebraska and in a California greenhouse growing organic lettuce to supply its stores.
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