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08/05/2022

Costco's sales sizzle in July

Warehouse club operator reports a 10.8% year-over-year increase in net sales

The aisles at Costco in July were busy as the retailer reported a monthly net sales increase of 10.8% when compared to the same time frame from the previous year.

Total sales for the year’s seventh month were US$16.85  billion, up from sales of $15.21 billion in July of 2021. 

In Canada, same-store sales for the month increased 11.7% year over year, while comparable sales–excluding the impact of gasoline sales and foreign currency fluctuations--increased 11.5%.

Online sales in July were also strong. Costco, which operates e-commerce sites in the U.S., Canada, the U.K., Mexico, Korea, Taiwan, Japan and Australia, reported an online sales increase of 10.2%.

For 48 weeks ended July 31, the company reported net sales of $205.19 billion, an increase of 16.4% from $176.30 billion during the similar period in 2021.