Costco Posts 10% Increase In Sales For August
US retailer Costco Wholesale Corporation has reported net sales of $9.8 billion for the month of August, which represents an increase of 10% compared to the same period last year.
This brings the company's total sales for the first 52 weeks of its 53-week fiscal year, ending 27 August 2017, to $123.5 billion, representing an increase of 6.4% compared to the previous year.
Comparable sales for August saw growth across all regions, including the US (+7.4%), Canada (+8.2%) and international markets (+6%). Additionally, comparable e-commerce sales were up by 26% during this period.
Costco opened its ninth warehouse in Australia and its 26th warehouse in Japan this week. The company will end its fiscal year on 3 September with 741 warehouse in operation, including 514 in the US and Puerto Rico, 97 in Canada, 37 in Mexico, 28 in the United Kingdom, 26 in Japan, 13 in Korea, 13 in Taiwan, nine in Australia, two in Spain, one in Iceland and one in France.
The company plans to report its operating results for the 53-week fiscal year on 5 October.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.