Costco reports double-digital sales growth in October
Costco Wholesale Corp. reported another strong month as its digital sales continue to accelerate.
Costco reported net sales of $24.50 billion for the four weeks ended Nov. 1, up 12.6% increase from $21.75 billion in the year-ago period.
Total company comparable sales increased 11/1%, with U.S. comps up 12.6% and Canadian comps up 4.9%. Other international comps increased 9.4%.
Total company company comparable sales excluding the impacts from changes in gasoline prices and foreign exchange increased 7.3%, rising 8.1% in the U.S. and 3.5% in Canada. Other international comps rose 6.9%,
Digitally-enabled sales (defined by Costco as sales initiated through a digital device, whether fulfilled through a warehouse, distribution center or Costco Travel) increased 22.5% year over year.
[READ MORE: Numerator: Costco gains $2.5B in CPG wallet share; new members fuel growth]
Costco is opening a total of 14 locations in October and November across the U.S. and Canada. The openings are part of Costco’s plan to add 30-plus new stores annually during the next decade, with half in the U.S. and the rest internationally.
The company currently operates 943 warehouses, including 651 in the United States and Puerto Rico, 115 in Canada, 43 in Mexico, 37 in Japan, 29 in the United Kingdom, 20 in Korea, 15 in Australia, 14 in Taiwan, seven in China, five in Spain, three in France, two in Sweden, and one each in Iceland, and New Zealand.
Costco also operates e-commerce sites in the U.S., Canada, the U.K., Mexico, Korea, Taiwan, Japan, Australia and China.
