Key Takeaways:
- Costco reported May net sales of $24.01 billion, up 14.5% year over year
- Total company comparable sales rose 12.5%, with digitally-enabled comps up 21.1%
- The retailer now operates 931 warehouses globally, including 639 in the U.S.
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Costco May sales jump 14.5% to $24.01 billion as digital comps surge
Costco Wholesale Corp. reported May net sales of $24.01 billion for the four weeks ended May 31, a 14.5% increase from $20.97 billion a year earlier, as the retailer posted double-digit comparable sales growth across all regions.
"May sales results reflect continued strength in our business, with strong member engagement across both warehouse and digital channels," Josh Dahmen, vice president of finance and investor relations at Costco, said in a pre-recorded message.
Total company comparable sales rose 12.5% for the four-week period and 8.3% for the first 39 weeks of the fiscal year. U.S. comparable sales increased 13.7%, Canada gained 9.2%, and other international markets rose 9.7%. Excluding the impacts of gasoline price changes and foreign exchange, total company comparable sales were up 8.0% for the month and 6.7% year-to-date.
Digitally-enabled comparable sales surged 21.1% in May and 21.6% over the 39-week period, underscoring the accelerating shift toward e-commerce. On an ex-gas and ex-forex basis, digital comps rose 20.9% and 21.1%, respectively.
Net sales for the first 39 weeks reached $221.19 billion, a 10% increase from $201.02 billion in the prior-year period. Costco now operates 931 warehouses worldwide, including 639 in the U.S. and Puerto Rico, 115 in Canada, and 43 in Mexico, with e-commerce sites across nine markets.
The May results extend a pattern of consistent operational momentum for Costco. In late May, the company reported strong third-quarter earnings that beat expectations, though shares fell 3.9% on the day. The stock closed Wednesday at $954.27, up 0.86%, trading slightly below its 200-day moving average of $957.15. Investors will watch the company's next monthly sales update for signs of sustained digital growth and membership trends.
This article is for informational purposes only and does not constitute investment advice.
