Costco Net Sales Rise 7.8% In December
Costco Wholesale Corporation has reported a 7.8% year-on-year increase in net sales, to $15.4 billion (€13.4 billion), for the five weeks ended 6 January 2019.
Comparable sales at the company went up by 6.1%, while in the e-commerce segment, sales increased by 13.6% for the period.
For the 18 weeks ended 6 January 2019, the company's net sales amounted to $53 billion, an increase of 9.5%, up from $48.4 billion the previous year.
During this period, comparable sales in the company increased by 7.9%, and e-commerce grew by 27.9%.
Currently, Costco operates 768 warehouses across the world.
This includes 533 in the United States and Puerto Rico, 100 in Canada, 39 in Mexico, 28 in the United Kingdom, 26 in Japan, 15 in Korea, 13 in Taiwan, 10 in Australia, two in Spain, and one each in Iceland and France.
Costco also operates e-commerce sites in the US, Canada, the United Kingdom, Mexico, Korea, and Taiwan.
In December of last year, the group reported a decrease in gross margins in the first quarter of its financial year.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.