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Costco Sales Rise 15% in Latest Quarter

Published by

December 5, 2024
(GMT+2)

Costco Wholesale Corp.’s sales climbed again in the latest quarter as Americans continue to shop for food and goods for the home during the pandemic.The wholesale retail chain’s revenue increased to $44.77 billion in the quarter ended on February 14, a 15% gain from the year -earlier period, fueled by solid demand for fresh food and household goods and topping analysts’ projections of $43.7 billion. Comparable sales, at stores or digital channels operating for at least 12 months, increased 12.9% during the February quarter, excluding the impact of gasoline sales and currency movements. The retailer’s e-commerce sales increased 74.8% from the prior year as adjusted.The average ticket size increased 11.9% company-wide. The company experienced some supply-chain challenges in the quarter regarding container shortages and port delays, which led to delays in furniture, sporting goods and sundry items such as seafood, imported cheeses and oils.

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