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May 10, 2024

Costco Posts Solid April Sales with Help from Home Furnishings

Posted In: Retail Articles

Costco generated higher comparable sales in April, helped in part by gains from home furnishings, toys and seasonal products.

The company noted that the net sales for the month were $19.8 billion, up 7.1% from the period in the past year.

Comparable sales, excluding the effects of gas pricing and foreign exchange volatility, were up 5.5% year over year, with comps in the United States up 5.2%, Canada up 5.9% and other international markets up 7% versus the 2023 month. E-commerce comps gained 14.8% from the previous April. In a conference call, Costco said comp traffic was up 4.2% in the U.S.

By operating region, the strongest comparable sales were in the Northeast, Southeast and Midwest. By merchandise category, Nonfoods comp sales were positive in the mid-single digits, led by jewelry, toys and seasonal and home furnishings. Fresh food comps were positive in the mid single digits, with Fresh Food up in the mid to high single digits.

The shift in the timing of Easter impacted Costco’s retail month of April, with total and comparable sales reduced by a little more than 0.5%, the retailer stated.

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