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February 8, 2024

Costco Forges Ahead in January

Posted In: Retail Articles

By: Mike Duff

Contributing Editor

For its fiscal January, Costco Wholesale Corp. posted net sales of $22.08 billion, up from $21.13 billion in the year-previous month.

With the effects of fuel prices and currency exchange excluded, comparable sales gained 3.4%, with those in the United States up 2.2%, those in Canada up 6.6% and those in other international markets up 6.3%. E-commerce comps increased by 20.9%.

In a conference call, Costco reported a 1.5% comp traffic gain in the U.S. Regions that had the strongest results in the U.S. were Texas, the Northeast and the Southeast. By merchandise category, Nonfoods sales were up in the mid-single digits, led by jewelry, tires and health and beauty aids. Food and Sundries and Fresh Food gained in the low to mid-single digits.

Costco maintained that a calendar shift in the New Year’s holiday lowered net and comp sales by 3% to 3.5%.

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