Wholesaler Costco has posted net sales of $13.56 billion in the four weeks ended 30 August 2020, up 15% from $11.79 billion in August 2019.
The company’s comparable sales grew by 13.2% in this period, with markets outside the US and Canada reporting a 16.1% growth.
In the US, comparable sales increased by 12.5%, while Canada registered a 14.6% growth. The online division reported a 101.9% jump in comparable sales in this period.
Quarterly Performance
The wholesaler saw net sales up by 12.7% year-on-year, to $52.3 billion, in its fourth quarter, from $46.4 billion in the same period last year.
The company’s overall comparable sales in this period increased by 11.4%, with its international division reporting a 16.1% growth.
The US reported comparable sales growth of 11%, followed by Canada at 9.1%.
The company’s online division saw comparable sales growth of 90.6% during the quarter.
Annual Performance
Costco generated net sales of $163.2 billion in the 52-weeks ended 30 August, up 9.2% from $149.4 billion in its previous financial year.
Comparable sales for the financial year increased by 7.7%, with the international division seeing an 8.9% growth.
The company’s online comparable sales were up 49.5%, while the US and Canada reported a growth of 8.1% and 5% respectively.
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.
