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Retail

Costco Posts 7.9% Increase In Net Sales In July

Costco Wholesale Corp has posted a 7.9% year-on-year growth in net sales to $11.43 billion (€10.2 billion) in the four weeks ended 4 August 2019.

The company's overall comparable sales increased 5.6% in July, while e-commerce sales saw 21.3% growth.

Over the four weeks, comparable sales in the US and Canada grew by 6.5% and 4.8% respectively, while other international markets saw a 1.3% growth.

The wholesale giant's net sales grew 8% to $137.56 billion (€122.8 billion) in the 48 weeks ended 4 August 2019, up from $127.40 billion (€113.7 billion) in the same period in last year.

Comparable sales in the e-commerce segment grew 23.1% during the same period.

Costco operates 778 warehouses in the United States, Puerto Rico, Canada, Mexico, the United Kingdom, Japan, Korea, Taiwan, Australia, Spain, Iceland and France.

It also operates e-commerce sites in the US, Canada, the United Kingdom, Mexico, Korea, and Taiwan.

© 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.

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