Costco keeps up sales pace in August as e-commerce gains narrow
Overall and U.S. comparable-club sales climb by double digits
Russell Redman, Supermarket News
Sep 02, 2021
Despite further deceleration in e-commerce sales growth, Costco Wholesale upheld double-digit net and comparable sales increases for August.
In the four weeks ended Aug. 29, net sales rose 16.2% to $15.75 billion from $13.56 billion a year earlier, Costco reported yesterday after the market close.
Comparable-club sales for the August selling period gained 14.2% overall and were up 9.1% excluding the impact of changes in fuel prices and foreign exchange (FX) rates. By business unit, comp sales rose 14.7% in the United States (10.1% excluding fuel and FX), 13.4% in Canada (5.2% excluding fuel and FX) and 12.2% internationally (7.3% excluding fuel and FX).
August e-commerce sales inched up 2.8% on a comparable basis and were up 1.8% excluding FX. That marked the second consecutive month of single-digit online sales growth, reflecting the cycling of last year’s large pandemic-driven gains...