Costco U.S. Produces Strong Q3 Comp Store Growth

Third quarter net sales at Costco were up 7.4% as the warehouse club chain also reported solid gains in comparable stores for the three month period ended May 12.

Total sales were $33.96 billion, up from sales of $31.62 billion for the comparable quarter the previous year. Net income was $906 million, or $2.05 per diluted share, compared with net income of $750 million, or $1.71 per diluted share, in the same quarter the prior year.

Company-wide comparable store sales grew 5.5%, with comp sales in the U.S. up 7%. E-commerce comparable store sales were up 22%.