Costco sales soar in July even as online cools

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Costco Wholesale Corp. reported strong sales growth in the same store in July, although digital sales growth continued to decline.

The warehouse club retailer’s net sales increased 16.6% to $ 15.21 billion for the four weeks ended August 1, compared to $ 13.04 billion for the same period last year.

Total sales in the same store increased 13.8%. By business area, sales in the same business increased 13.1% in the US and 16.5% in Canada. Comp sales increased internationally by 14.4%.

Digital selling has started to cool as more people return to in-store shopping. Costco’s e-commerce sales increased 7.4% on a like-for-like basis in July, up from 20.8% in June and 75.3% in the same period last year.

Globally, the average transaction rose 6.4% in July, said David Sherwood, deputy VP of finance and investor relations at Costco, during the company’s call with investors.

For the 48 weeks since the start of the year, Costco net sales were $ 176.3 billion, up 17.8% from $ 149.66 billion last year. Comp’s total sales increased 16.2%.

Costco currently operates 813 warehouses, including 562 in the US and Puerto Rico, 105 in Canada, 39 in Mexico, 30 in Japan, 29 in the UK, 16 in Korea, 14 in Taiwan, 12 in Australia, three in Spain, and one each in Iceland, France and China. Costco also operates e-commerce sites in the US, Canada, UK, Mexico, Korea, Taiwan, Japan, and Australia.


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