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Costco Posts Strong Sales In August

Costco posted strong comp sales in August, both in the U.S. and international markets, and its e-commerce operation also continued to grow.

For the fiscal month of August, Costco posted comparable sales gains, excluding the effect of gasoline price and foreign exchange rate volatility, of 6.1% in the U.S., 4.3% in Canada and 6.7% in other international markets for a company total of 5.9%. Company-wide e-commerce comparable sales gained 26% in August year over year.

For the first 52 weeks of the company’s 53-week fiscal year, excluding gas and foreign exchange effects, U.S. comps advanced 3.6%, Canada comps advanced 3.8% and other international comps advanced 4.5% for a company total of 3.8% versus the year-prior fiscal year.

Costco reported a 10% increase in August net sales to $9.8 billion and a 6.4% increase in 52-week net sales to $123.5 billion versus fiscal 2016.

In a conference call, Costco said that August U.S. regional comp sales were strongest in the Midwest, San Diego, Northwest and Southeast.

As for merchandising category results, softlines comps— home-related goods included— increased in the high single digits, with better performing segments including housewares, small appliances, furnishings and apparel. Hardlines comps increased in the mid single digits, with better performing segments including garden, sporting goods, tires and hardware. Food and sundries comps increased in the mid single digits, and fresh food comps also increased in the mid single digits.