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08/03/2022

Costco Reports Double-Digit Sales Growth in July

Despite fewer shopping days compared to the same month in 2021, the warehouse club said comparable store sales were also up.
Greg Sleter
Associate Publisher/Executive Editor
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Costco

The aisles at Costco in July were busy as the Issaquah, Wash.-based retailer reported a monthly sales increase of 10.8% when compared to the same time frame from the previous year.

Total sales for the year’s seventh month were $16.85  billion, up from sales of $15.21 billion in July of 2021. Costco officials noted this year’s four-week retail month had one fewer shopping day in the U.S. versus last year, due to the timing of Independence Day. This negatively impacted company-wide total and comparable sales by approximately 2.5%, and U.S. total and comparable sales by approximately 3.5%.

Comparable store sales for the month were up 5.8% in the U.S. and 11.5% in Canada, excluding the impact of gas prices and foreign exchange rates.

For 48  weeks ended July 31, the company reported net sales of $205.19 billion, an increase of 16.4% from $176.30 billion during the similar period in 2021