Costco Sales Rise In Q1

Costco reported solid sales growth in its fiscal year first quarter with same-store sales up across the company.

For the 12-week period ended November 26, net sales were $56.72 billion, an increase of 6.1% from the comparable quarter the previous year. Company officials said sales growth in the quarter was the result of 0.5% to a 1% bump due to a shift in the calendar as a result of the 53rd week in fiscal year 2023. 

Comparable store sales in the quarter at Costco, excluding fuel and foreign exchange rates, were up 2.6% in the U.S., 8.2% in Canada, and 7.1% in its International division. E-commerce comparable sales grew 6.1%.

Costco currently operates 871 warehouses, including 600 in the United States and Puerto Rico, 108 in Canada, 40 in Mexico, 33 in Japan, 29 in the United Kingdom, 18 in Korea, 15 in Australia, 14 in Taiwan, five in China, four in Spain, two in France, and one each in Iceland, New Zealand and Sweden. Costco also operates e-commerce sites in the U.S., Canada, the U.K., Mexico, Korea, Taiwan, Japan and Australia.