Costco Wholesale Sees Sales Up 5.9% In May
Costco Wholesale Corporation reported net sales of $11.67 billion in May – an increase of 5.9% on last year’s $11.02 billion (€9.76 billion).
The group reported that, for the 39 weeks ended 2 June 2019, it posted net sales of $111.56 billion (€98.78 billion) – an increase of 8% on the same period last year.
Over the four-week period, the US saw 5.7% growth, while Canada saw a 0.3% decline, with the group’s other international operations seeing growth of 0.9%.
E-commerce also saw gains, of 20.2% in the four-week period, and by 24.2% over the 39-week period.
The report also showed the group’s comparable sales performance, excluding the impact of changes in petrol prices, foreign exchange, and a previously disclosed accounting change concerning revenue recognition.
Comparable sales in the month of May were up 4.4% in the US, 3.9% in Canada, and 4.8% in the group’s international business.
Overall, group-wide comparable growth was 4.3%, while e-commerce was up 19.9%.
Costco currently operates 773 warehouses, which are located in the United States, Puerto Rico, Canada, Mexico, United Kingdom, Japan, Korea, Taiwan, Australia, Spain, Iceland and France.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Helen Galgey. Click subscribe to sign up to ESM: European Supermarket Magazine.