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Retail

Costco Sees Sales Up 16% In First Quarter

Costco Wholesale Corporation has announced a 16.0% increase in comparable sales in the first quarter of its financial year, to $46.33 billion (€38.2 billion).

The group said that comparable sales were up 15.7% in the US over the 13-week period, while sales in Canada were up 16.4% and sales in its international division rose by 17.5%.

In November, the group reported net sales of $15.67 billion (€12.92 billion), it said, which is up 15.1% on the $13.62 billion it recorded in the same period last year.

This compares to a 16% year-on-year rise for the month of October, and a 17% increase in September.

Online Growth

E-commerce sales at the group were up 81.7% in the quarter, and 70.9% in the month of November, it added.

Costco currently operates 803 warehouse retail outlets, including 558 in the United States and Puerto Rico, 102 in Canada, 39 in Mexico, 29 in the United Kingdom, 27 in Japan, 16 in Korea, 14 in Taiwan, 12 in Australia, three in Spain, and one each in Iceland, France, and China.

© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine

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