PARIS – Paris Saint-Germain confirmed the arrival of Argentinian football giant Lionel Messi on Tuesday after leaving Barcelona after 20 years in a move that is expected to boost sales of football products and his own brand of clothing.
The French club posted a teaser video on Twitter showing jump cuts from the Eiffel Tower, a hand holding a pen signing a contract and the silhouette of the player with the slogans “New diamond in Paris” and “Mercato Update”. The post garnered over 22,000 likes in less than 15 minutes.
The announcement ended a few suspenseful days which saw French fans camping out at the Parc des Princes football stadium in hopes of catching a glimpse of the six-time Ballon d’Or winner. Media provided detailed accounts of his whereabouts, while fans followed the flight path of his private jet, which landed at Le Bourget.
In a tearful press conference on Sunday, the 34-year-old said he wanted to stay at Barca, but the club’s dire financial situation made it impossible.
According to media reports, Messi has entered into a two-year contract with PSG, with a one-year extension option. He will join Neymar and Kilian Mbappé in what has been described as a dream team – provided Mbappé stays at the club.
The deal would be worth € 75million for the first two years, plus a signing bonus of € 25million, confirming Messi’s status as one of the highest-paid athletes in the world. But PSG are poised to recoup the cost quickly, with industry watchers predicting sales of its shirts, produced by Nike’s Jordan brand, could increase by 200,000 to 300,000 units.
The move should also benefit Messi’s own fashion line. Ginny Hilfiger, Founder and Creative Director of MGO Team, the company that developed the Messi brand, said the company has been very successful in the ecommerce world.
“We are delighted that Leo is taking the step. He was delighted to work for Barcelona and stay, but political and financial events occurred which were unfortunate. We know he is the best player in the world and wherever he goes he will shine, ”said Hilfiger, who is Tommy Hilfiger’s sister.
She noted that the Messi brand she designs is a lifestyle brand and does not produce the Barcelona jerseys. Nike makes them.
Ginny Hilfiger has said she expects Messi’s move to PSG to catapult her label’s business. The Messi online store sells a casual lifestyle collection with a sporty twist. The iconic stripes are red, light blue and navy blue, which she says will go well with the PSG squad.
“It’s a bit versatile,” she said. “The colors of PSG are similar to those of Barcelona with red and blue, and the colors of the French flag.” Hilfiger said they need to make sure he will always be number 10.
The Messi brand was launched in September 2019 and has grown to include pullovers, hoodies, sweatshirts and zip-up jackets. The company offers denim and a sustainable collection, as well as accessories. The line is available on Themessistore.com.
According to Maximiliano Ojeda, founder and CEO of MGO Team, the line was shipped to over 110 countries in the first year. “The good thing is that Leo Messi is such a global name, and every movement has an impact, which is always positive as he engages with more people,” he said.
Ojeda noted that Messi had 185 million followers last January, and that figure has risen to over 245 million Instagram followers. “He continues to grow and have more followers,” he said.
Between Instagram, Facebook and YouTube, the Messi brand has 1.6 million followers. “Our target is 2 million by the end of the year,” Ojeda said. Although he said some people would be disappointed if Messi left Barcelona, he expects his path to continue to grow.
Currently, the United States accounts for over 50% of Messi Store’s business. The label is also present in Canada, Germany, Spain, United Kingdom and France. It seeks to expand in the Middle East, South America and China.
The Messi Store is also available as an app on Android and Apple mobile devices. The company expects the number of downloads to be in six digits by the end of the year. He is also planning to live-stream some pre-holiday events and launch duty-free shops near Tommy Hilfiger and Ralph Lauren.
The current bestsellers are tops, t-shirts and hoodies, Ojeda said. Another novelty is the expansion of the Messi brand into underwear, swimwear, socks and loungewear, which is expected at the end of this year or early next year, as well as subscription services for these categories.
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The Kansas City Chiefs continue to be popular among NFL leaders in merchandise sales.
In the latest quarterly report released by the NFLPA (March 1, 2021 to May 31, 2021), QB Chiefs Patrick Mahomes and TE Travis Kelce are among the the top 50 players in the sales of officially licensed NFL merchandise. This group of items includes gaming jerseys, T-shirts, hoodies, action figures, plush toys, socks, face covers, headbands, action figures, wall decals, shopping bags backs, pennants, photos, glasses, pet products and much more.
Mahomes came in at No.2, behind Tampa Bay Buccaneers quarterback Tom Brady on the Top 50 list. Kelce came in at No.28, which was good for the tight third end, behind Bucs’ Rob Gronkowski (No.9) and George Kittle of the San Francisco 49ers (No.14).
According to the NFLPA, Brady or Mahomes had led those quarterly rankings 12 times in a row dating back to October 2018. Mahomes was previously the NFL merchandise sales leader in 2019, but Brady overtook Mahomes last year with his move to the Bucs. . Kelce has consistently been in the top 50 in sales since the 2018 NFL season. Mahomes is said to have one of the best-selling jerseys, Funko Pop vinyl collectibles, and wall decals and cutouts.
One thing that shouldn’t come as a big surprise, no Chiefs rookie has made the NFLPA’s Rising All-Star roster this season. Only Jacksonville Jaguars QB Trevor Lawrence, Chicago Bears QB Justin Fields, New York Jets QB Zach Wilson, San Francisco 49ers QB Trey Lance and Pittsburgh Steelers RB Najee Harris made the most recent top 50 list. In the absence of a first-round pick, the Chiefs will need a few stars for a rookie to make it onto this list.
The Tokyo 2021 Olympics spur the search and sale of relevant merchandise on Amazon as a flood of national pride and on-field performances spark interest.
Data compiled by Jungle Scout revealed that sales of products labeled “2021 Olympics” have exploded 202,684% year-on-year since April as the public boarded the hype train for the sporting jamboree.
The e-commerce platform sells a variety of products ranging from the Japanese flag to “Team USA Olympic clothing”. Analyzing research data from the first full week of action, Jungle Scout found that sales of the Japanese flag came out of nowhere to post a 688% increase in revenue on Amazon.com.
Other products that have soared off the shelves include “Olympic Torch” products, which saw a 924% increase in revenue and a 430% increase in units sold between March and July.
The US market also had a roaring trade in official Team US Olympic clothing (up 2.681% in searches on Amazon), while keyword searches for gymnast Simone Biles jumped 205%. Soccer player Megan Rapinoe also benefited, with keyword searches for “Megan Rapinoe jersey” up 232%.
Jungle scout Molly burke said, “Despite a live spectator ban and some notable absences among competitors at the Tokyo Olympics in 2021, consumers are looking en masse for Olympic equipment on The Everything Store.
“So far the biggest increases in sales and search volume for Olympic Games-related products in Amazon’s US market have been in Olympic Games decoration, Team USA apparel and merchandise. for star Olympic athletes like Simone Biles and Megan Rapinoe.
“Over the next two weeks, sports and exercise equipment sales on Amazon could also increase, as consumers tune into the Summer Games to watch inspiring athletic performances.”
Jungle Scout specializes in breaking down consumer behavior on Amazon, generating search, revenue and sales figures from internal data.
// Featured in this article
When it comes to popularity in the NBA, it always helps to be pretty good at basketball. The better you are, whether it is a team or a player, the more popular you will be. It’s just common knowledge.
The Philadelphia 76ers finished as the No.1 seed in the East and they’re led by two young stars in Joel Embiid and Ben Simmons and they also have a Curry brother on the roster in Seth. This type of success leads to many sales of merchandise.
The NBA just released the team rankings in merchandise sales and the Sixers finished in the top 10 in the rankings, placing 7th on the list. The top 5 on the list includes the Los Angeles Lakers, Brooklyn Nets, Phoenix Suns, Milwaukee Bucks and Chicago Bulls.
While the Sixers could move Simmons through the offseason and lose some of that popularity, they’re still led by a lovable big man in Embiid. It also helps them play in a passionate market like Philadelphia to keep sales high for the business side of things.
This post originally appeared on Sixers wire! follow us on Facebook!
NBA Reveals Most Popular Jerseys and Team Merchandise Sales for Second Half of 2020-21 Season | NBA.com India
NEW YORK, July 14, 2021 – The National Basketball Association (NBA) and the National Basketball Players Association (NBPA) jointly announced today that James lebron and the the Los Angeles Lakers earned top spots on the NBA’s Most Popular Jerseys and Team Merchandise lists, respectively. Results are based on NBAStore.com sales from March 11 through July 13.
Milwaukee Bucks’ Giannis Antetokounmpo (No.2) tied his all-time highest jersey ranking and finished three places ahead of where he placed on the jersey list in the first half of the season, while Phoenix Suns’ Devin Booker (No. 6) also had his best jersey ranking and 12 places ahead of where he finished in March. On the team’s list of goods, the Suns (No. 3) climbed 16 spots ahead of where the team finished in the first half of the season and the Bucks (No. 4) finished 6 spots above where the team finished in March.
- The brooklyn nets (No. 2) have three top 10 players on the jersey list with Kevin Durant (N ° 3), Kyrie Irving (N ° 8) and James harden (No. 9).
- Atlanta Hawks Young Traé (No. 11) got their best ranking on the jersey list.
The 2021 NBA Finals presented by YouTube TV continue tonight at 9 p.m. ET on ABC.
Top 15 Most Popular NBA Jerseys:
- LeBron James, Los Angeles Lakers
- Giannis Antetokounmpo, Milwaukee Bucks
- Kevin Durant, Brooklyn Nets
- Luka Dončić, Dallas Mavericks
- Jayson Tatum, Boston Celtics
- Devin Booker, Phoenix Suns
- Stephen Curry, Golden State Warriors
- Kyrie Irving, Brooklyn Nets
- James Harden, Brooklyn Nets
- Damian Lillard, Portland Trail Blazers
- Trae Young, Atlanta Hawks
- Joel Embiid, Philadelphia 76ers
- Anthony Davis, Los Angeles Lakers
- Ja Morant, Memphis Grizzly Bears
- Kawhi Leonard, Los Angeles Mowers
Top 10 Most Popular Team Merchandise:
- the Los Angeles Lakers
- brooklyn nets
- Phoenix Suns
- Milwaukee dollars
- Chicago Bulls
- New York Knicks
- Philadelphia 76ers
- Boston Celtics
- Golden State Warriors
- Toronto Raptors
Artist merchandise is now more than just t-shirts. Bundles of merchandise have given way to some pretty creative ideas that fit into music themes or an artist’s particular aesthetic, but the way we now consume media has given rise to new forms of “Goods” including things we can never even see in the real world. .
Online gaming platforms like Fortnite and Roblox have huge user bases, which has prompted artists to “play” in the games in the form of a concert broadcast live. Since these games rely so much on customization, these artists often have matching merchandise for the characters in the game.
Lil Nas X performed on Roblox in December, racking up over 33 million views in one weekend. Jon Vlassopulos, global music manager for Roblox, said the event’s freight transport would be “creeping into eight digits.”
Lil Nas X’s ‘Roblox’ Performance Receives Over 34 Million Viewshttps://t.co/nRyCq2eywN
– NME (@NME) July 7, 2021
“It’s money,” Vlassopulos said Music ally, in what is perhaps the most obvious statement of all time. “By crawling towards!” Officially seven, but down to eight, and it is with very little work.
Lil Nas X is currently one of the biggest stars on the planet with colossal global appeal. But being a part of a video game that people already love broadens its potential audience even further. It’s part of what brands like Roblox are using to entice artists to use their platform for virtual gigs.
Vlassopulos told Music Ally that Roblox is working on expanding licensed products rather than relying on specific labels to authorize authorization.
“We’re thrilled to have done everything we’ve done over the past year, and to be able to put money in the pockets of publishers and record labels, and to give to artists and writers – composers a new platform to reach millions and millions of fans around the world, “he said.” So we will continue to do this, and we hope to continue to do so with more labels and more. ‘publishers, so we hope that things will resolve themselves soon in terms of lawsuits. “
While digital merchandise isn’t exactly about traditional promotional businesses, the trend of “digital merchandise” often comes with complementary in-person merchandise. If a video game studio wants to create an item of clothing or accessory that gamers can outfit, they often also partner with actual clothing brands or stores to create an approximation of reality.
Right now, when concerts take place in Roblox and Madison Square Garden, creating merchandise to tell viewers you were “there”, anywhere, will be in high demand.
SAN DIEGO, May 7, 2021 / PRNewswire / – PriceSmart, Inc. (NASDAQ: PSMT) today announced that April net merchandise sales rose 22.0% to $ 263.4 million of $ 216.0 million in April a year earlier. Exchange rate fluctuations negatively impacted net merchandise sales by 1.6%, or $ 3.4 million, compared to the same period of one month the previous year. There were 47 warehouse clubs in operation at the end of April 2021 and 45 warehouse clubs in operation at the end of april 2020.
For the past four weeks April 25, 2021, comparable merchandise net sales for the 45 warehouse clubs open at least 13 and a half months increased 25.3% from the same period last year. Fluctuations in exchange rates negatively impacted comparable merchandise net sales by 1.7%, or $ 3.4 million, compared to the same period of the previous year.
Sherry S. Bahrambeygui, CEO, said:
“Our membership base and 12-month renewal rate are growing rapidly from their respective recent lows in August 2020, moving past April of last year and almost returning to their pre-COVID peaks, in part thanks to our online capabilities.
“As we now face the second year of the pandemic and despite continuing restrictions in various markets, our total and comparable sales have increased in April 2021, 22.0% and 25.3%, respectively, compared to April of last year.
“Demand in our non-food categories in April, particularly electronics and apparel, continued to grow. Our global merchandising team efficiently found in-demand items at excellent prices and in appropriate quantities to maintain a strong inventory on hand. The return of additional club capacity in some of our markets positively impacted our foodservice sales during the month.
“We believe that our concept is not only sustainable, it has the potential for growth in good times as well as stressful times like these. Additionally, with the continued strengthening of our omnichannel capabilities and deeper data on our member preferences, we see opportunities to deliver greater value to our members. Our entire team of over 10,000 associates continues to deliver strong results despite ongoing challenges while ensuring the safety of our employees and members.
The 12-month renewal rate is 86.1% for the closed period April 30, 2021, an increase from the 12-month renewal rates of 81.5% and 80.5% for completed periods February 28, 2021 and August 31, 2020, respectively.
Cumulative fiscal year, which includes the eight months ended April 30, 2021, net merchandise sales increased by 6.2% for $ 2,307.8 million of $ 2,172.5 million for the eight months ended April 30, 2020. Exchange rate fluctuations negatively impacted net merchandise sales by 2.9% or $ 62.4 million compared to the same eight-month period the previous year.
For the 34 week period ended April 25, 2021, comparable merchandise net sales increased 3.3% from the same 34-week period a year ago. Fluctuations in exchange rates negatively impacted comparable merchandise net sales by 2.9% or $ 60.6 million compared to the same period of the previous year.
Monthly sales reporting
The company will cease reporting its monthly sales after its sales publication in May on or about June 7, 2021 at the end of the third quarter of fiscal 2021. This is in line with current industry practices and the vast majority of the Company’s retail peers. The Company believes that aligning its sales reports with the disclosure of our quarterly financial results provides better context for the overall financial performance of the Company.
PriceSmart, headquartered at San Diego, owns and operates American-style commercial warehouse clubs in Latin America and the Caribbean, selling high quality goods and services at low prices to PriceSmart members. PriceSmart operates 47 warehouse clubs in 12 countries and one American territory (eight in Costa Rica and Colombia; seven in Panama; five in the Dominican Republic, four in Trinity and Guatemala; three in Honduras; two each in El Salvador and Nicaragua; and one each in Aruba, Barbados, Jamaica and the US Virgin Islands). The Company also plans to open new warehouse clubs in Guatemala City, Guatemala and Bucaramanga, Colombia in the fall of 2021, and in Portmore, Jamaica in spring 2022. Once these three new clubs are open, the Company will operate 50 warehouse clubs.
The Company reports comparable merchandise net sales on a “same week” basis with 13 weeks in each quarter starting on a Monday and ending on a Sunday. Periods are established at the start of the fiscal year to provide as close a match as possible to the calendar month and quarter which are used for financial reporting purposes. This approach equalizes the number of weekend days and weekdays in each period for a better sales comparison, as the company has higher merchandise club sales on weekends. Each of the warehouse clubs used in the calculations has been open for at least 13 and a half calendar months before its results for the current period are compared with its results for the previous period.
The term “exchange rate” refers to the exchange rates the Company uses to convert net sales of merchandise and net sales of comparable merchandise for all countries where the functional currency is not the US dollar into US dollars. The Company calculates the effect of changes in exchange rates as the difference between current period operations converted using current period exchange rates and comparable period last year exchange rates. The Company believes that disclosure of the effects of currency fluctuations on the Company’s results provides investors with a better understanding of the underlying performance of the Company.
This press release may contain forward-looking statements regarding the anticipated future income and profits of the Company, the adequacy of future cash flows, omnichannel initiatives, proposals to open warehouse clubs, the performance of the Company by compared to its competitors, the outcome of tax proceedings and related matters. These forward-looking statements include, without limitation, statements containing the words “expect”, “believe”, “will”, “may”, “should”, “plan”, “estimate”, “anticipate” , “Planned”, “intend” and similar expressions, and the negative thereof. These statements are subject to risks and uncertainties which could cause actual results to differ materially, including, but not limited to without limitation: adverse changes in economic conditions in the Company’s markets, natural disasters, compliance risks, exchange rate volatility and the illiquidity of certain local currencies in our markets, competition, spending habits of consumers and small businesses, political instability, increased costs associated with integrating online commerce with our traditional businesses, if the Company can successfully execute strategic initiatives. es, cybersecurity breaches that could disrupt our systems or compromise the security of member or company information, cost increases for product and service providers, disruption of supply chains, drivers and challenges related to COVID-19, including, among others, the duration of the pandemic, the unknown long-term economic impact, the impact of government policies and restrictions that have access limits for our members, and changing demand discretionary or more expensive products to cheaper products, exposure to product liability claims and product recalls, collectability of money owed to PriceSmart by governments, and other important factors discussed in the Risk Factors section of the Company’s most recent annual report on Form 10-K, and other factors discussed from time to time in other filings s with the SEC, which are accessible on the SEC’s website at www.sec.gov, including quarterly reports on Form 10-Q and current reports on Form 8-K. Forward-looking statements speak only as of the date on which they are made and the Company does not undertake to update them, except as required by law.
For more information, please contact Michael L. McCleary, EVP, Chief Financial Officer and Principal Accounting Officer (858) 404-8826 or send an email to [email protected].
SOURCE PriceSmart, Inc.
Closed due to COVID-19 pandemic, Louvre turns to sale of merchandise to generate income-Art-and-culture News, Firstpost
Expanding merchandise is just one of the ways the museum has been creative in fundraising.
Can masks and T-shirts save the Louvre? Probably not, but maybe they can help keep the museum’s name alive while its doors remain closed.
Normally, the Louvre is one of the most visited museums in the world: 9.6 million people visited its rooms in 2019. But the coronavirus deprived it of foreign tourists and government decrees closed it twice for nearly six months last year, a loss of 90 million euros (about $ 108 million) in revenue, according to the Louvre. Since last March, the museum, along with other French cultural institutions, has remained closed indefinitely. (It opened last year from early July to late October.)
“We have to find new ways to make money,” said Adel Ziane, director of external relations at the Louvre. “The COVID crisis has made the diversification and promotion of the name of the Louvre more urgent than ever. “
One of his answers is retail. Lots of detail.
On February 4, Uniqlo began selling a collection of Louvre clothing in its stores around the world, under a four-year licensing agreement with the museum. Peter Saville, an English graphic designer, splashed the museum’s inventory numbers and slogans alongside the artwork on t-shirts and sweatshirts.
Uniqlo’s two-minute promotional video for the line features Uniqlo-clad models strolling through the galleries of the Louvre. The Louvre has produced its own short video featuring a museum official extolling the values of “universality and timelessness” he shares with Uniqlo.
The Louvre has also collaborated with CASETiFY, a tech accessories company, to put images of some of its most recognizable women – Mona Lisa, Venus, Liberty Leading the People – on iPhone cases, AirPods cases, Grip mounts, wireless chargers and water bottles.
Maison Sarah Lavoine, a small boutique located near the Tuileries Garden, offers a fancy cushion and ceramic candlesticks that are said to be inspired by the bases of statues in the garden.
During the pandemic, visits to the Louvre.fr site exploded, according to the museum. But the Louvre had to rely on an umbrella online site, the Museum Shop, to sell its wares, grouping them together with wares from museums like Versailles and the Musée d’Orsay. Thus, at the end of January, the Louvre created a distinct online identity with its own e-boutique.
“We wanted to take control, promote what we wanted, tell our own stories – and reach the widest possible audience around the world,” said Yann Le Touher, Head of Sponsorship, Brand and Business Partnerships at Le Touher. Louvre. Louvre.fr is where you can find Louvre Swatches, a Louvre fragrance from L’Officine Universelle Buly; and the monopoly of the Louvre.
Expanding merchandise is just one of the ways the museum has been creative in fundraising.
In December, for the first time in its history, the museum organized an auction with Christie’s and Drouot to raise funds to transform an unused museum space into a 12,000 square foot educational and practical art “studio”. for adults and children. At auction, works of art by Pierre Soulages and Jean-Michel Othoniel were offered; a Vacheron Constantin watch (the winning bidder could choose a museum artwork to be reproduced on the dial, although the Mona Lisa is banned;) and a variety of museum-related “experiences”.
An unidentified bidder paid 80,000 euros ($ 96,600) to be able to witness the process of taking the Mona Lisa out of her case in person for her annual inspection.
In total, the auction raised more than 2.3 million euros ($ 2.8 million). “Bidders from all over the world have come together to show their support,” said museum director Jean-Luc Martinez. “The desire for the Louvre is more alive than ever. “
The warm atmosphere of popular culture is nothing new for the Louvre, which welcomes, often at very high prices, filmmakers, videographers, photographers, fashion designers, artists.
For two nights in 2018, Beyoncé and Jay-Z took to the galleries, stairs, corridors and courtyard of the Louvre to produce a clip that has been viewed over 200 million times on YouTube.
Most recently, the creators of the Netflix series Lupine rented the museum for five days and five nights. And Louis Vuitton, because of its status as a major donor of the Louvre, has an exclusive layout which gives it access to various museum spaces for its shows, which took place in the exterior Carrée courtyard and the Marly courtyard under glass (the the location of the next one, which will be revealed digitally on March 10, remains to be seen).
It’s a question of buzz and results; fees are negotiable.
“The cost of the museum depends on the project,” Ziane said. “Is it day or night?” How are the galleries? Do you want the Mona Lisa? Want an aerial shot of the Pyramid? The prices can go up quite high. “
In the meantime, those who want to put Mona Lisa on their face, can buy a “Monna Pop” face mask with 16 images of her face in bright pop-art colors on the Museum Shop website for 9.90 euros.
The website proclaims: “Cover your mouth and nose in style! “
– Featured Image: Benh LIEU SONG
Elaine Sciolino c. 2021 The New York Times Company
Costco Wholesale Corp. (COST) is a big box retailer and wholesale warehouse club operating approximately 800 locations in North America, Asia and Europe. It also has a significant e-commerce activity. The company’s warehouses offer low prices on a limited selection of branded and private label products, usually offered in bulk.
Customers purchase subscriptions to access warehouses and make purchases. Costco aims to offer lower prices than its competitors by purchasing merchandise direct from manufacturers, limiting store hours, and minimizing labor by storing merchandise on large racks above a large self-service warehouse.
Costco offers merchandise in categories including:
- Food and miscellaneous items
- Hard lines (such as major appliances, electronics, and hardware)
- Fresh food
- Softlines such as clothing and small appliances
- Auxiliary (which includes gasoline and pharmaceuticals)
The company also generates a small percentage of its revenue through membership fees. Costco’s main competitors include discount stores such as Target Corp. (TGT) and Walmart Inc. (WMT), as well as big box competitors like BJ’s Wholesale Club Holdings Inc. (BJ).
Key points to remember
- Costco is a wholesale retailer that sells products at discounted prices in member warehouses and online.
- The two fastest growing areas are fresh foods and hard products such as hardware and major appliances.
- The fastest growing segment is international operations.
- The e-commerce business recorded a 75.8% increase in comparable sales in the second quarter of fiscal 2021, boosted by the COVID-19 pandemic.
Costco Financial Data
In the second quarter of fiscal 2021, which ended February 14, 2021, Costco recorded year-over-year (YOY) gains in revenue and net income. Total revenue increased 14.6% year-on-year to $ 44.8 billion. Net income (including net income from non-controlling interests) increased 2.5% year-over-year to $ 971 million. the The company said its e-commerce comparable sales grew 75.8% year-over-year.
Food and sundries grew 17.6% in the second quarter of fiscal 2021. They account for 40% of Costco’s net sales, making it the largest contributor to the company’s total net sales. But Fresh Foods and Hardlines were the fastest growing categories, with year-over-year net sales increases of 23.1% and 22.6%, respectively. Fresh Food represented 14% of sales and Hardlines 19% over the period. Softlines grew 20.3%, representing 12% of revenue. Ancillary and other products are the only product category that recorded a decrease in sales, which decreased by 9.1% and represented 14% of total net sales.
Costco also provides information on revenue generated from membership fees. Membership fees are generally a much smaller portion of total income. For the second quarter of fiscal 2021, for example, the company reported $ 881 million in membership fees, or about 2% of total revenue.
Costco lines of business
Costco divides its business into three reportable segments, breaking down results geographically and by revenue and operating result: Operations in the United States, Canadian operations and other international operations.
Operations in the United States
The bulk of Costco’s business comes from its operations in the United States, making it the largest of the company’s three featured segments. For the second quarter of fiscal 2021, operations in the United States reported total revenue of approximately $ 32.1 billion, an increase of 12.6% year-over-year.
During the same period, the segment reported operating profit of $ 790 million, down 3.8% year-on-year. For the second quarter of fiscal 2021, U.S. operations represented 72% of Costco’s total revenue and 59% of company-wide operating profit.
Although significantly smaller than its US operations, Costco continues to do significant business through its Canadian operations segment. This segment reported total revenue of approximately $ 6.0 billion for the second quarter of fiscal 2021, an increase of 14.7% year-over-year. Canadian operations also posted operating income for the quarter of $ 236 million, an increase of 16.8% year-over-year. For this quarter, Canadian operations represented 13% of Costco’s total revenue and 18% of the company’s operating revenue.
Other international operations
In addition to the United States and Canada, Costco operates member warehouses in Mexico, United Kingdom, Japan, Korea, Spain, Australia, France, China and Iceland, and these latter countries are represented. in the Other international operations segment. For the second quarter of fiscal 2021, other international operations generated total revenue of approximately $ 6.6 billion, an increase of 24.9% year-on-year.
Other international operations also posted operating income of $ 314 million in the second quarter of fiscal 2021, an increase of 29.2% year-over-year. This makes this segment the fastest growing segment in terms of total sales and operating profit. It represents 15% of turnover and 23% of operating income.
Recent Costco Developments
On February 25, 2021, Costco CEO W. Craig Jelinek announced that he would increase his starting salary to $ 16 an hour, from $ 15 an hour in 2019. The majority of Costco employees are paid more than $ 25. one hour. Jelinek said that paying higher wages “is not altruism” and that it “makes sense to our business and is a significant competitive advantage for us. It helps us in the long run by minimizing turnover and increasing turnover. maximizing employee productivity “.