In its latest quarterly financial report, Tesco has disclosed the cost of T-shirts in its wholesale segment, which accounts for about 70 per cent of its total revenue.
In the period ended March 31, Tescos T-Shirts retailing in Australia averaged $100.16, or $1,847.21 per shirt.
This is a significant increase over the previous quarter, when Tesco T-shirts averaged $93.85, or just $749.50 per shirt, according to its figures.
It is also the highest average cost per T-SHIRT ever reported.
Costco Wholesale has reported its quarterly retail revenue in Australia at $2.1 billion, up 9 per cent on the previous year.
This represents a 4 per cent increase on the same period last year.
In a press release, Costco Wholesaler chief executive officer Brian McPherson said the increase was a result of a more streamlined approach to the business, including the increased volume of products available and an increase in the quality of our merchandise.
“Costco’s wholesale business has grown rapidly and we have an ambitious plan for the future,” Mr McPhearson said.
“We will continue to invest in the business and the delivery of high quality, customer-focused products that make our customers happier, healthier and more productive.
He said Costco had invested in its business over the past few years, and had achieved “significant growth”.
Costcom has also revealed its annual operating profit, which is the amount it earns on its profits from retail sales, which includes the difference between the retail price and the cost it pays to suppliers.
It has not revealed how much it earns from selling its own goods, or on its online platform, which it has used for many years.
Tesco has a market share of 19.7 per cent in the retail marketplace, with the other major retail players like Woolworths and JB Hi-Fi accounting for the rest.
The company says its wholesale business is “one of the fastest growing in the industry” and it has “reached over $300 million in revenue for the fourth quarter”.
The retailer has been struggling with declining sales over the last few years.
Last year, it reported that it had lost $2 billion in retail revenue, which was down from $3.2 billion a year earlier.