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Costco posts strong April results
Despite one less selling day this April versus a year ago, Costco Wholesale Corporation managed a 7% boost in net sales for the four weeks.
Sales came in at $8.56 billion for the month, ended May 4, compared to last April’s $7.98 billion. As Costco explained, this year's four-week period included 27 days of sales compared to 28 last year, reflecting the timing of Easter – a calendar shift that “negatively impacted this year's net and comparable sales by an estimated 1.5% to 2%.”
Excluding positive impacts from inflation on gasoline prices coupled with negative impacts from foreign currencies, comps for the four weeks were up 5% in the U.S., 2% internationally, and 5% for the total company.
For the thirty-five weeks ended March 4, Costco reported a 6% increase in net sales to $73.21 billion from $69.00 billion last year.
Excluding negative impacts from both inflation in gasoline prices and foreign currencies, comps for the 35-week period were up 4% in the U.S., 1% internationally, and 3% for the total company.
Source: Home & Textile Today