Costco Wholesale Corporation Reports May Sales Results
Costco Wholesale reported net sales of $19.64 billion for May 2024, marking an 8.1% increase from the previous year. Year-to-date net sales for 39 weeks reached $186.07 billion, a 6.9% rise from last year's $174.07 billion. Comparable sales for May showed growth across various regions: the U.S. at 5.8%, Canada at 6.7%, and Other International at 9.3%. E-commerce sales saw a significant 15.3% increase. Excluding gasoline prices and foreign exchange impacts, comparable sales remained robust, with total company growth at 6.5% for May and 5.5% for the first 39 weeks. Costco operates 879 warehouses and multiple e-commerce platforms globally.
- Net sales for May 2024 increased by 8.1% to $19.64 billion compared to last year.
- Year-to-date net sales for 39 weeks rose 6.9% to $186.07 billion.
- Comparable sales for e-commerce grew by 15.3% for May and 14.8% for the first 39 weeks.
- Comparable sales excluding gasoline and foreign exchange impacts showed strong growth: 6.5% for May and 5.5% for the first 39 weeks.
- International growth was robust, with comparable sales up 9.3% for May and 9.1% for the first 39 weeks.
- The increase in net sales for the year-to-date period (6.9%) is lower than the increase for May (8.1%), indicating potential slowing growth momentum.
- Comparable sales growth in the U.S. for the first 39 weeks was 4.3%, slower than the overall company’s growth rate of 5.4%.
Costco's reported net sales of
The 39-week results show net sales of
Short-term, investors might see this as a positive signal of stability and growth, potentially boosting stock prices. Long-term, continuing e-commerce momentum is critical and monitoring the company's ability to maintain these growth rates is essential for evaluating future performance.
Costco's performance across various regions underscores the company's effective market strategies and adaptability. The international growth rates, particularly in regions like Canada and Other International markets, which posted
This diversified growth can be an advantage, helping to shield Costco from localized economic downturns. Additionally, the 15.4% rise in e-commerce sales over four weeks emphasizes Costco's successful omni-channel strategy, integrating online and physical store sales efficiently. This is important as consumers increasingly shop online and Costco's ability to capture this market share is promising for long-term investors.
For retail investors, understanding the impact of these regional strategies can provide insights into future growth potential. Costco's emphasis on expanding its e-commerce platform is particularly relevant in today's digital age, indicating a proactive approach to changing consumer behaviors.
ISSAQUAH, Wash., June 05, 2024 (GLOBE NEWSWIRE) -- Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today reported net sales of
Net sales for the first 39 weeks were
Comparable sales were as follows:
| 4 Weeks | 39 Weeks | |||
| U.S. | ||||
| Canada | ||||
| Other International | ||||
| Total Company | ||||
E-commerce | ||||
Comparable sales excluding the impacts from changes in gasoline prices and foreign exchange were as follows:
| 4 Weeks | 39 Weeks | |||
| U.S. | ||||
| Canada | ||||
| Other International | ||||
| Total Company | ||||
E-commerce | ||||
Additional discussion of these results is available in a pre-recorded message. It can be accessed by visiting investor.costco.com (click on “Events & Presentations”). This message will be available through 4:00 p.m. (PT) on Wednesday, June 12, 2024.
Costco currently operates 879 warehouses, including 606 in the United States and Puerto Rico, 108 in Canada, 40 in Mexico, 33 in Japan, 29 in the United Kingdom, 18 in Korea, 15 in Australia, 14 in Taiwan, seven in China, four in Spain, two in France, and one each in Iceland, New Zealand and Sweden. Costco also operates e-commerce sites in the U.S., Canada, the U.K., Mexico, Korea, Taiwan, Japan and Australia.
Certain statements contained in this document and the pre-recorded message constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. For these purposes, forward-looking statements are statements that address activities, events, conditions or developments that the Company expects or anticipates may occur in the future. In some cases forward-looking statements can be identified because they contain words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “likely,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” or similar expressions and the negatives of those terms. Such forward-looking statements involve risks and uncertainties that may cause actual events, results or performance to differ materially from those indicated by such statements. These risks and uncertainties include, but are not limited to, domestic and international economic conditions, including exchange rates, inflation or deflation, the effects of competition and regulation, uncertainties in the financial markets, consumer and small business spending patterns and debt levels, breaches of security or privacy of member or business information, conditions affecting the acquisition, development, ownership or use of real estate, capital spending, actions of vendors, rising costs associated with employees (generally including health-care costs and wages), energy and certain commodities, geopolitical conditions (including tariffs), the ability to maintain effective internal control over financial reporting, regulatory and other impacts related to climate change, public-health related factors, and other risks identified from time to time in the Company’s public statements and reports filed with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made, and the Company does not undertake to update these statements, except as required by law. Comparable sales and comparable sales excluding impacts from changes in gasoline prices and foreign exchange are intended as supplemental information and are not a substitute for net sales presented in accordance with U.S. GAAP.
| CONTACTS: | Costco Wholesale Corporation |
| David Sherwood, 425/313-8239 | |
| Josh Dahmen, 425/313-8254 | |
| Andrew Yoon, 425/313-6305 |
COST-Sales
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