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Industry NewsCostco Canada January sales up +17%

Costco Canada January sales up +17%

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Costco Wholesale Corporation increased sales in Canada, the U.S. and in international markets for the month of January 2022. Total sales were $15.76 billion for the month, for the four weeks ending January 30, 2022, an increase of 15.5 per cent from the $13.45 billion last year.

Comparable sales for Canada during the four weeks were up 17.8 per cent; U.S sales climbed 14.1 per cent while international market sales were 11.8 per cent.

E-commerce sales increased 9.0 per cent for the month.

According to a report by Forbes ahead of the release of the January numbers, Forbes contributor Grace L. Williams referenced analyst Joseph Feldman and Telsey Advisory Group, noting that “in fiscal 2022, Costco should generate solid EPS growth, driven by a high single-digit comp, mid-single-digit-to-high-single-digit membership fee income growth, healthy digital growth, and lapping COVID-19 related costs.”

The same Forbes article covered an assessment of the current state of merchandising and said it projects “food and sundries and fresh foods to be positive” in terms of growth.

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