Costco Records 9% Sales Growth In July
US wholesale corporation Costco has reported that sales increased by 8.8% year-on-year to $9.41 billion for the month of July.
For the forty-eight weeks ending 30 July 2017, the company reported net sales of $113.7 billion, an increase of 6.1% compared to the same period last year.
Costco's US operation achieved a 6% sales growth in July, compared to 7.2% in Canada, and 6.3% in international markets.
However, comparable sales for the period, excluding impacts from changes in gasoline prices and foreign exchange, saw a 5.5% increase in the US, 4% in Canada, and 5.9% internationally.
Costco currently operates 736 warehouses, including 511 in the US and Puerto Rico, 97 in Canada, 37 in Mexico, 28 in the UK, 25 in Japan, 13 in Korea, 13 in Taiwan, eight in Australia, two in Spain, one in Iceland, and a newly-opened outlet in France.
Earlier this week it was announced that the company's chairman and co-founder, Jeffrey Brotman has died.
© 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.