Costco Reports Positive Comp Sales in January

Costco started the new year with modest comparable store sales gains at its U.S. stores while its e-commerce division continued to report strong growth.

For the five week period ended February 4, the wholesale club reported net sales of $22.08 billion, an increase of 4.5% from sales of $21.13 billion in the same period a year earlier. By division, comparable store sales excluding the impacts of changes in gasoline and foreign exchange were +2.2% in the U.S., +6.6% in Canada, and 6.3% in Other International. E-commerce comparable store sales were up 20.9%.

For the 22 weeks ended February 4, Costco reported net sales of $104.94 billion, an increase of 6%from $99 billion for the 22 weeks of fiscal year 2023 ended January 29, 2023. Comparable store sales for the 22 weeks (excluding gasoline prices and foreign exchange changes) were +3.7% in the U.S., +8.7% in Canada, and +7.2% in Other International. E-commerce sales for the 22 week period were up 11.8%.