Costco reports 10.2 percent comparable sales increase for November
Known for its popular Kirkland Signature private brand, Issaquah, Wash.-based Costco Wholesale Corp. reported net sales of $11.26 billion for the month of November, defined as the four weeks ending Nov. 26, 2017 — an increase of 13.2 percent from $9.95 billion during the similar period last year.
For the 12-week first quarter of fiscal year 2018, ending Nov. 26, Costco reported net sales of $31.13 billion, an increase of 13.3 percent from the $27.47 billion reported in the first quarter of fiscal 2017.
While this year’s 12-week first quarter included one less sales day than the first quarter last year (due to the shift of the Thanksgiving closure this year), pre-Thanksgiving and Black Friday/holiday weekend sales fell into the first quarter this year compared to the second quarter last year. Combined, these factors produced an estimated net benefit of approximately 1.5 percent in the United States and slightly less worldwide, Costco reported.
Beating predictions, Costco’s U.S. comparable store sales for the four-week retail month are up 10.2 percent compared to last November, while U.S. comp sales for the fiscal first quarter are up 10.3 percent compared to FY 2017, Costco reported.
Costco currently operates 746 warehouses, including 518 in the United States and Puerto Rico, 98 in Canada, 37 in Mexico, 28 in the United Kingdom, 26 in Japan, 13 in Korea, 13 in Taiwan, nine in Australia, two in Spain, one in Iceland and one in France. Costco also operates electronic commerce web sites in the U.S., Canada, the United Kingdom, Mexico, Korea and Taiwan.