Costco Ends 2023 on a High Note with Strong December Sales

Costco saw nearly 10% growth in December sales, reaching $25.15 billion for the five weeks ending December 31, 2023, up by 9.9% from the same period the previous year. Excluding fuel and currency impacts, total comparable sales rose by 8.1%, with notable increases in U.S. comparable sales (excluding fuel) and a significant 17.7% surge in e-commerce.

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Even with the downward pressure from reduced fuel prices, Costco experienced a nearly 10% growth in sales in December, building on a 7% increase from December 2022.

Aggregate sales amounted to $25.15 billion for the five weeks concluding on December 31, 2023. This reflected a 9.9% increase from the $23.80 billion recorded in the corresponding period of the previous year.

Excluding the effects of fluctuations in gasoline prices and foreign exchange rates, the total comparable sales increased by 8.1%. Comparable sales in the U.S. (excluding fuel) saw a rise of 7.3%, featuring a 6.5% increase in comparable traffic. The e-commerce comparable sales for the entire company witnessed a significant growth of 17.7%.

Comparable sales for the non-foods segment experienced a substantial increase in the high single digits. The category of Home was not specifically highlighted as either one of the best-performing or worst-performing categories.

Over the 17 weeks concluding on December 31, 2023, the company disclosed net sales of $82.86 billion, marking a 5.9% growth compared to the $78.26 billion recorded during the corresponding 17 weeks of the fiscal year 2023 ending on December 25, 2022.

The net sales for the 17 weeks were adversely affected by approximately 0.5% to 1% due to the adjustment in the fiscal calendar resulting from the fifty-third week in fiscal year 2023.

Source: hometextilestoday.com

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