Costco’s June sales up 10.6% amid strong digital gains; declares dividend
Costco Wholesale Corp. reported another solid month with increases in net and comparative sales, as well as its average transaction.
The membership warehouse club retailer's net sales rose 10.6% to $29.24 billion in June (the five weeks ended July 5). Excluding gas, the average transaction rose 3.3%. Net sales for the first 44 weeks were $250.43 billion, up 10.1% from $227.46 billion last year.
Total company comparable sales in June rose 8.8%, with a 10.6% increase in the U.S., and a 3.7% increase in Canada. Other international comps rose 4.7%. Digitally enabled comp sales jumped 20.9%.
Excluding the impacts from changes in gasoline prices and foreign exchange, total company comparable sales rose 7 %, increasing 7.6% in the U.S., and 4.9% in Canada. Other international comps increased 5.6%. Digitally enabled comps increased 21.5%.
The U.S. regions with the highest-performing comparative sales were the Midwest, Southeast and Northeast. Non-food comps were positive in the mid- to high-single digits, with jewelry, home furnishings and major appliances among the better performing categories.
Food and sundries comps were positive in the low- to mid-single digits, with food, candy and frozen foods among the better performing departments.
Costco announced that its board has declared a quarterly cash dividend on Costco common stock of $1.47 per share. The quarterly dividend is payable August 7, to shareholders of record at the close of business on July 24.
Costco currently operates 933 warehouses, including 641 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.
