After closing stores in March due to the COVID-19 pandemic, Five Below reopened its locations in late April and consumers drove second quarter sales and earnings higher.
In reviewing the second quarter, Target acknowledged its impressive gains represented a continuation of heightened sales volume as well as investments in response to the COVID-19 pandemic, but the company emphasized that, despite e-commerce strength, its stores were key in the period.
The COVID-19 pandemic prompted consumers to tap Tractor Supply for key needs both in-store and online, substantially augmenting second quarter sales and earnings.
For the five week fiscal month of June, Costco reported net sales of $16.18 billion, up 11.1% from the period a year earlier.
As it coped with the effects of the COVID-19 pandemic, Costco missed a Wall Street earnings per share estimate for the third quarter but posted positive comparable store sales and a big increase in e-commerce comps.
Costco’s store traffic has been a highlight of its performance through the coronavirus outbreak in the U.S., according to traffic tracker Placer.ai.