Costco Wholesale Corporate has reported its latest sales results for March 2020 and the company has seen a significant increase in sales for Canada and the U.S.
Overall, the company’s sales increased 8.4 per cent to reach $88.25 from $81.43 billion during the same period last year. In 2020, the five-week retail month had one extra shopping day versus last year due to the calendar shift of Easter, which positively impacted total and comparable sales by about one to one and a half per cent
Comparable sales in Canada for the five week period increased 3.8 per cent and 1.5 per cent over 31 weeks. Ecommerce sales surged 20.6 per cent during the five week period and 25.4 per cent during the 31 week period.
Comparable sales in Canada, when excluding items such as changes in gasoline prices, foreign exchange and a previously announced accounting change, were 6.7 per cent and 5.8 per cent for the five week and 31 week periods respectively.
Costco currently operates 770 warehouses, including 535 in the U.S. and Puerto Rico, 100 in Canada, 39 in Mexico, 28 in the U.K., 26 in Japan, 15 in Korea, 13 in Taiwan, 10 in Australia, two in Spain, and one each in Iceland and France. Costco also operates e-commerce sites in the U.S., Canada, the U.K., Mexico, Korea, and Taiwan.