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Industry NewsCostco fiscal Q3: Canada comparable sales up 32.3%

Costco fiscal Q3: Canada comparable sales up 32.3%

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Costco Wholesale Corp released its financials for its third quarter and the first 36 weeks of fiscal 2021, ending May 9. In the quarter, comparable sales for Canada growing 32.3 per cent and total e-commerce sales climbing 41.2 per cent.

Net sales for the quarter increased 21.7 percent, to $44.38 billion, from $36.45 billion last year. Net sales for the first 36 weeks increased 17.7 percent, to $130.61 billion, from $110.94 billion last year.

At the height of pandemic-fueled stockpiling, Costco online sales surged, including a 65 per cent spike in Q3 of 2020.

Costco currently operates 809 warehouses, including 105 in Canada, 559 in the U.S. and Puerto Rico, 39 in Mexico, 29 in the United Kingdom, 29 in Japan, 16 in Korea, 14 in Taiwan, 12 in Australia, three in Spain, and one each in Iceland, France, and China. Costco also operates e-commerce sites in the Canada, U.S., the United Kingdom, Mexico, Korea, Taiwan, Japan, and Australia.

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