Warehouse retailer Costco sees 20% bump in sales for June


Costco Wholesale Corp. saw a 20.4% bump in its June sales, the retailer reported Thursday.

The company announced that it had $22.78 billion in net sales for the retail month of June, which spanned the five weeks that ended July 3. That was up from $18.92 billion a year before.

Costco’s COST, +1.16% comparable-store sales rose 18.1% on the whole, as the company saw a 21.5% bump on the metric in the U.S., a 14.2% increase in Canada and a 4.7% hike in other international markets. E-commerce sales picked up by 7.0%.

When excluding impacts from changes in gas prices and foreign exchange, Costco posted an overall increase of 13.0% in comparable-store sales, along with a 8.3% bump in e-commerce sales.

Costco noted in its press release that this year’s June retail month benefited from an extra shopping day in the U.S. relative to last year given the timing of Independence Day. This amounted to a roughly 2% benefit to overall sales as well as an approximately 3% benefit to U.S. sales.

Shares are down nearly 19% over the past three months as the S&P 500 SPX, -0.76% has lost about 13%.

This article was originally published by Marketwatch.com. Read the original article here.

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