Costco Wholesale and Fred’s Inc. each reported comparable store sales growth in May.
At Costco, company-wide sales were up 4.1% with same-store sales in the U.S. up 5.2%. Net sales for the month were $9.86 billion, up 7% from May of 2016. Sales at the warehouse club for the 39-week period ending May 28 were $92.11 billion, an increase of 6%.
May comparable store sales at Fred’s were up 0.8% despite a decline in overall sales for May, which declined 3.1% to $160.1 million. Company officials said the decline in sales is related to the closure of 39 underperforming stores in the first quarter.
Michael Bloom, CEO of Fred’s, said the retailer continues to see momentum in its retail and specialty pharmacy business that is creating opportunities throughout the company.