Costco’s net sales climb during May
After a disappointing April, Costco returned to form sales-wise in May.
The wholesale club retailer reported that its net sales in May rose 7.5% to $12.6 billion. Total same-store sales increased 5.4%; online comp sales skyrocketed 106.2%.
Costco’s net sales fell 1.8% in April, while same-store sales decreased 4.7%. Comparable online sales rose 86%, but were unable to make up for a decline in-store traffic, with the retailer citing social distancing restrictions and shelter-at-home orders.
Costco currently operates 787 warehouses, including 547 in the United States and Puerto Rico, 100 in Canada, 39 in Mexico, 29 in the United Kingdom, 26 in Japan, 16 in Korea, 13 in Taiwan, 12 in Australia, two in Spain, and one each in Iceland, France, and China. Costco also operates e-commerce sites in the U.S., Canada, the United Kingdom, Mexico, Korea, Taiwan, Japan, and Australia.