Costco starts new year with a bang
Same store U.S. sales at Costco shot up 8.8% in December, its best month of sales so far in fiscal 2018.
Costco said its same store sales for December were up 11.5%, with a 10.5% gain in the U.S. 11.9% increase in Canada, and 17% jump elsewhere. Excluding gasoline, comps were up 8.8%. Net sales totaled $14.9 billion, up 14.3% year over year.
According to Gordon Haskett analyst Chuck Grom, December was the fifth-straight month Costco reported double-digit total sales growth, which the analyst said is a "testament to the model, which is generating strong comps from both new and mature units."
This year’s December retail month had one additional shopping day as compared to last year due the calendar shift of New Year’s Day. The shift positively impacted total and comparable sales by approximately +2.5% for the five-week December retail month. The 17-week fiscal year was not impacted.
For the first 17 weeks of fiscal year 2018 ended Dec. 31, the company reported net sales of $46.06 billion, an increase of 11.9 percent from $41.18 billion reported during the similar period last year.
Costco currently operates 746 warehouses, including 518 in the United States and Puerto Rico, 98 in Canada, 37 in Mexico, 28 in the United Kingdom, 26 in Japan, 13 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.