Costco keeps being Amazon-proof
Costco is continuing to leverage its physical and digital momentum into sustained sales growth.
Costco reported net sales of $10.81 billion for the retail month of April, the four weeks ended May 6, an increase of 13.1 percent from $9.56 billion last year. For the thirty-five weeks of fiscal year 2018 ended May 6, 2018, the company reported net sales of $92.24 billion, an increase of 12.2 percent from $82.24 billion last year.
Same-store sales rose 7.3%. E-commerce sales rose 43.1% for the month.
"Costco’s higher income customer base (average household income of $96,000) is faring better economically than low- to middle-income consumers, who continue to struggle with wage growth," said Cowen and Company analyst Oliver Chen.
Costco currently operates 749 warehouses, including 519 in the United States and Puerto Rico, 98 in Canada, 38 in Mexico, 28 in the United Kingdom, 26 in Japan, 14 in Korea, 13 in Taiwan, nine in Australia, two in Spain, one in Iceland and one in France. Costco also operates electronic commerce web sites in the U.S., Canada, the United Kingdom, Mexico, Korea and Taiwan.