Costco reports higher Canadian sales in July

Costco Wholesale Corp. reported net sales of $19.26 billion for the retail month of July, up 7.1% year-over-year.

Comparable sales in Canada increased 6.3%, and total company sales were up 5.2%. 

U.S. sales rose 5.3% and Other International sales increased by 3.7%. E-commerce sales were up 20.2%. 

Net sales for the first 48 weeks of the year were $229.81 billion, up 7.1% from last year.

Last month, the club announced plans to hike its membership fees for the first time since 2017.

Annual fees for club members will go up by $5 to $10 in the U.S. and Canada, effective Sept. 1.

Costco will release its fourth quarter results on Sept. 26.