Costco posts 7.1% sales increase in April By Investing.com

ISSAQUAH, Wash. – Costco Wholesale Corporation (NASDAQ:) reported a 7.1% increase in net sales for the month of April, reaching $19.80 billion, compared to $18.48 billion in the same period last year. For the first 35 weeks of their fiscal year, the company’s net sales rose to $166.44 billion, marking a 7.0 percent increase from the previous year’s $155.62 billion.

The retailer, known for its membership warehouses, noted that comparable sales for the four-week period ending May 5, 2024, saw increases across various regions: 5.8 % in the U.S., 5.2% in Canada, and 5.1% in other international markets. Total company comparable sales rose by 5.6 percent, with e-commerce showing a robust 14.6% growth.

Adjusting for the impacts of fluctuating gasoline prices and foreign exchange, the comparable sales figures were slightly different: 5.2% in the U.S., 5.9% in Canada, and 7% in other international markets, with total company comparable sales at 5.5% and e-commerce at 14.8%.

The shift in the timing of Easter this year was cited as having a slight negative impact on total and comparable sales, by just over 0.5%.

Costco currently operates a total of 876 warehouses globally, with 604 in the United States and Puerto Rico. The company also maintains e-commerce operations in several countries, including the U.S., Canada, the U.K., Mexico, Korea, Taiwan, Japan, and Australia.

The company’s forward-looking statements, as defined under the Private Securities Litigation Reform Act of 1995, indicate expectations for future events and are subject to risks and uncertainties that could cause actual results to differ. These risks include various economic conditions, market competition, consumer spending patterns, and other factors detailed in the company’s public statements and SEC filings.

InvestingPro Insights

As Costco Wholesale Corporation (NASDAQ:COST) continues to exhibit growth in net sales and comparable sales across various regions, a deeper look at the company’s financial health through InvestingPro data reveals additional insights. The company’s market capitalization stands at a robust $338.58 billion, reflecting its significant presence in the retail sector. Despite a high price-to-earnings (P/E) ratio of 49.86, which suggests a premium valuation, the company has demonstrated consistent revenue growth with a 6.16% increase over the last twelve months as of Q2…