Here's how Amazon-proof Costco is
Costco's efforts to deliver a seamless omnichannel customer experience are driving online and physical sales ever higher.
Costco said same-store sales excluding gas were up 5.8%, thanks to an increase of 6.7%, 2%, and 5.4% in the U.S., Canada, and other international locations. E-commerce sales were up 33.2% in March and 33.7% for the year. The company reported net sales of $12.92 billion, an increase of 10.9% from $11.65 billion last year.
This year’s five-week March retail month had one fewer shopping day versus last year, due to the calendar shift of Easter. This negatively impacted total and comparable March sales by approximately one to one and one-half percent, the retailer said.
The retailer has had an impressive year so far. It has posted a 9.4% year-over-year gain in same-store sales through the last six months, while its digital business has grown by 35%. Perhaps more important, the company has continued to add members, while maintaining a retention rate around 90%.
Costco has also made major investments toward improving its website, while also launching a partnership with Instacart.
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.