Costco’s retail comparable sales ended its fiscal year ended September 1 on a positive note, with the United States and other international markets posting solid gains.
Adjusted for the effects of fuel price volatility and foreign exchange rate fluctuation, company-wide comparable sales for the year were up 5.9%, with the U.S. up 5%, Canada up 8.1% and other international markets up 8.4%. For the fourth quarter, company comps gained 6.9%, with the U.S. up 6.3%, Canada up 7.9% and other international up 9.3%. As for the month of August, company comps advanced 7.1%, with the U.S. up 6.7%, Canada up 5.8% and other international up 10.8%.
E-commerce comps gained 16.2% in for the fiscal year, 19.5% in the fourth quarter and 23.3% in August, the company noted.
In the 52-week fiscal 2023, Costco recorded net sales of $249.6 billion versus $237.7 billion in the 53-week fiscal year 2023, the company reported.
Sales were $78.2 billion for the 16-week fourth quarter, compared to $77.4 billion in the 17-week fourth quarter of fiscal year 2023. Sales for August were $19.83 billion, compared to $18.51 billion in the year past.
In August, Costco reported, U.S. store traffic was up 6%. The biggest U.S. regional comp gains occurred in the Northeast, Texas and the Midwest. Nonfoods comps were up low double digits, led by jewelry, gift cards and sporting goods. Food & Sundries comps grew in the mid-single digits, while Fresh Food comps were up in the high single digits, the retailer noted.
Costco plans to announce earnings for the fourth quarter and fiscal year on September 26.
