US-based retailer Costco Wholesale has generated $99bn in net sales for the 22 weeks to 29 January, up by 7.5% from $92.1bn a year earlier.
During this period, the company’s total same-store sales rose by 6.0%.
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Its US and Canada businesses reported 7.8% and 3.0% growths in same-store sales respectively, while its other international businesses saw a 0.2% overall decline.
Costco Wholesale‘s e-commerce business reported a 6.4% drop in sales for the 22-week period.
In a statement, Costco Wholesale said: “Lunar New Year/Chinese New Year occurred on 22 January, ten days earlier this year.
“The shift negatively impacted January’s Other International and Total Company sales by approximately 2% and 0.25%, respectively.”
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By GlobalDataCostco Wholesale generated $16.84bn in sales in the four weeks to 29 January, up by 6.9% from $15.76bn in the same period of last year.
The company’s same-store sales increased 5.6% driven by its US operations, which reported a 6.6% growth in same-store sales.
Costco Wholesale’s Canadian business saw a 2.4% growth in sales, while its operations outside North America registered a 3.9% increase in sales.
The retailer’s e-commerce sales fell by 15.4% in the month.
Costco Wholesale operates 848 warehouses worldwide, including 584 in the US and Puerto Rico and 107 in Canada.
The company also has warehouses in Mexico, Japan, the UK, Korea, Australia, Spain and other countries.
It operates a digital channel in the US, Canada, the UK, Mexico, Korea, Taiwan, Japan and Australia.
In December last year, Costco Wholesale reported total net sales of $53.44bn for the first quarter (Q1) of fiscal 2023 (FY23), which ended on 20 November.
The retailer’s total comparable sales for Q1 were 6.6% driven by growth in its US and Canada operations, whose comparable sales rose by 9.3% and 2.4% respectively.
