SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

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                                    FORM 8-K

                                 CURRENT REPORT
                         PURSUANT TO SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

        Date of Report (Date of earliest event reported): August 8, 2003

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                                COST-U-LESS, INC.
             (Exact name of registrant as specified in its charter)

             WASHINGTON                    0-24543               91-1615590
(State or other jurisdiction of    (Commission File Number)   (I.R.S. Employer
incorporation or organization)                               Identification No.)

                             8160 - 304th Avenue SE
                               Building 3, Suite A
                            Preston, Washington 98050

               (Address of principal executive offices) (Zip Code)

       Registrant's telephone number, including area code: (425) 222-5022

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Item 7. Financial Statements and Exhibits.

      (c)   Exhibits.

            Exhibit No.  Description
            -----------  -------------------------------------------------------

               99.1      Press release of Cost-U-Less, Inc. dated August 8, 2003

Item 12. Results of Operations and Financial Condition

      The information in this current report on Form 8-K and the exhibit
attached hereto shall not be deemed to be filed for the purposes of Section 18
of the Securities and Exchange Act of 1934, as amended, or otherwise subject to
the liabilities of that section or Sections 11 and 12(a)(2) of the Securities
Act of 1933, as amended.

      On August 8, 2003, Cost-U-Less, Inc. (the "Company") issued a press
release announcing earnings of $0.08 per share for the fiscal quarter ending
June 29, 2003. A copy of the press release is attached as Exhibit 99.1 to this
current report on Form 8-K and is incorporated herein by reference.


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                                   SIGNATURES

      Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                                 Cost-U-Less, Inc.


August 11, 2003                                  By: /s/ J. Jeffrey Meder
                                                     ---------------------------
                                                     J. Jeffrey Meder, President


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                                  EXHIBIT INDEX

Exhibit No.           Description
- -----------           ----------------------------------------------------------

99.1                  Press release of Cost-U-Less, Inc. dated August 8, 2003


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