Costco Reports 7.5% Growth In Net Sales In May
Wholesaler Costco has reported a 7.5% year-on-year growth in net sales, amounting to $12.55 billion (€11.11 billion) in the four weeks ended 31 May.
The company’s overall comparable sales increased by 5.4%, with markets outside the US and Canada accounting for 12% growth in sales.
In the US, comparable sales grew by 5.5%, while Canada saw a 0.9% decline in this period.
The company’s e-commerce division saw comparable sales increase by 106.2% in May.
The wholesaler posted net sales of $120.19 billion (€106.42 billion), up 7.7% year-on-year, for the 39 weeks to 31 May.
In this period, comparable sales in the online division increased by 37.5%.
The US saw the highest growth in comparable sales, of 6.7%, followed by international markets, which were up 6.3%.
Comparable sales in Canada increased by 2.9% during this period.
Last week, the company reported a 7.5% fall in quarterly profit due to the COVID-19 pandemic.