Costco Sales Stay Hot In July

Costco kept rolling through fiscal July, demonstrating that consumers continue to look for it as a resource to help them cope with COVID-19 pandemic-related circumstances.

Comparable sales, excluding the effects of gasoline price and foriegn exchange volatility, gained 15.8% overall in July versus the period a year prior, with the U.S. up 15.7%, Canada up 14.8%,  and international up 18.2%. Comp traffic advanced 4.5% in the U.S. E-commerce sales increased 76.1% versus the year-earlier period.

July net sales were $13.04 billion, up 14.1% from the month a year before, Costco noted.

In a conference call, the company maintained that strongest U.S. regional sales regions in July were the Southeast, the Northeast and Texas. In terms of merchandising categories, softlines comps increased in the low teens with home furnishings, small appliances and women’s apparel strong. Hardlines comps gained in the mid 20s, with major appliances including consumer electronics, garden, automotive, hardware and health and beauty leading. Food and sundries comps advanced in the low 20s and those for fresh food advanced in the mid 20s.