Costco Sees 7% Sales Growth In May
Costco Wholesale Corporation has announced net sales of $9.86 billion for the four weeks ending 28 May – an increase of 7% compared to the same period last year.
The retailer has also reported net sales of $92.11 billion for the 39 weeks ending 28 May. This represents a 6% increase from the same period last year.
Costco has stores throughout the US, Canada, and a host of other international markets, such as Puerto Rico, Japan and the UK.
Costco Canada reported a decrease of 2.2% in sales for the last four weeks (ending May 28) as a result of changes in gasoline prices and foreign exchange. Excluding this impact, Canada experienced a growth of 3.3%.
The impact of changes in gasoline prices and foreign exchange helped Costco in the US to achieve stronger sales growth. In the last four weeks it reported a 5.2% growth in sales, which is adjusted to a 4.2% increase excluding the recent impacts.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Aidan O’Sullivan. Click subscribe to sign up to ESM: The European Supermarket Magazine.