Costco nears $10m profit with one NZ store

Costco store — Costco opened its first store in New Zealand at Auckland’s Westgate in 2022. (Source: Costco/Facebook)

By Harry Booth Jan 7, 2026

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Costco has reported its end-of-year earnings in New Zealand, showing a maiden profit for the US big-box retailer with just one physical store.

The store in Westgate, Auckland, opened in September 2022.

Gross profit for the financial year ending August 31, 2025, was $41.7 million, an increase from $32.7 million in 2024, company filings show.

The final figure for the year was a $9.6 million profit. Costco recorded a loss of $929,000 in 2024.

Before Christmas, New Zealand’s economic growth minister, Nicola Willis, said the West Auckland store had “improved competitive dynamics” in the area. Adding that the company’s news of a new opening planned in Drury, South Auckland, was “fantastic news for shoppers”.

Costco currently values its New Zealand property, plant, and equipment at $131.7 million, contributing to a total asset value of $232.1 million in 2025.