Costco paves way for continuing Australian expansion

Costco Wholesale Australia’s recently reported figures to the nAustralian Securities and Investments Commission (ASIC) show that the nUS-owned supermarket and discount retailer is now turning a decent nprofit in Australia.n

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The figures, obtained by Australian Food News from ASIC today, show nthat Costco earned a net profit of $9.73 million up to September 2012. nIts report lodged at ASIC showed that its stores generated $610 million nin sales and membership purchases. The Costco profit makes a turnaround nfrom $38 million losses incurred since 2009 in the set-up phase of nestablishing three large-scale warehouse stores in Australia. Australia Food News – Read More.

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