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Costco operates 855 warehouses, 587 of which are located across the US and Puerto Rico. Credit: Open Grid Scheduler/Grid Engine/Flickr(Creative Commons).

US-based multinational retailer Costco Wholesale has recorded net sales of $22.86bn for the five weeks of June, which ended on 2 July 2023.

This represents a 0.4% increase in net sales from $22.78bn for the same month last year.

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The company’s overall comparable sales for the month of June 2023 increased to 3.0%. This excludes the impact of changes in gasoline prices and foreign exchange rates.

Excluding all these impacts, the comparable sales in the US, Canada and other international markets were also up by 2.0%, 6.5% and 5.1%, respectively, with a decrease of 0.4% in the company’s e-commerce segment.

The company witnessed a decline of 1.4% in comparable store sales for the reported month. E-commerce comparable sales also dropped by 0.7%.

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Comparable sales recorded for the US and Canada showed a decline of 2.5% and 0.6%, respectively. Comparable sales in international markets were up by 4.5%.

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Costco’s net sales for the 44 weeks until 2 July 2023 increased by 4.6% to $196.93bn from $188.34bn in the same period in 2022.

The retailer said its overall comparable sales for the reported 44 weeks, excluding the impacts from changes in gasoline prices and foreign exchange rates, were up by 5.3%.

This increase in comparable sales was recorded across all the markets, which includes a rise of 4.3%, 8.2% and 8.3% in the US, Canada and other international markets, respectively.

However, Costco’s e-commerce operations during these 44 weeks were lowered by 5.8%.

So far, the retailer has recorded an increase of 3.0% in its overall comparable store sales for these 44 weeks.

This growth in comparable sales was also registered across all the markets, with 3.5%, 1.3% and 2.1% increases in the US, Canada and other international regions. The e-commerce sales were down by 6.9%.

Costco operates 855 warehouses, 587 of which are in the US and Puerto Rico.