-
Retail sales mixed in August
New York -- Although back-to-school sales were unexpectedly sluggish, retail sales for the month of August benefited from a late boost in store traffic.
Of the retailers still reporting monthly sales – most so far are reporting slight increases in August same-store sales. Retail Metrics forecast an overall August gain of 3.2% year-over-year; retail sales advanced 3.3% during the same period last year.
Costco Wholesale Corp. reported a same-store sales rise of 4% in August, surpassing a forecast 3.8% gain.
-
Sales at Costco increase
August seems to have delivered a mixed bag to various retailers, but Costco seems to have fared well with reported net sales of $7.95 billion for the four weeks ended Sept. 1, an increase of 7% from $7.44 billion during the prior-year period.
Comparable-store sales in the U.S., adjusted to exclude changes in gasoline prices, increased 5% for August and for the fourth quarter and increased 6% for the 52-week period.
For the fourth quarter, the company reported net sales of $31.8 billion, an increase of 1% from $31.5 billion in the prior-year quarter.