Costco’s operating results for the second quarter (twelve weeks) and the first 24 weeks of fiscal 2018, which ended February 18, 2018, show net sales for the quarter up 10.8 percent, to $32.28 B from $29.13 B last year. Net sales for the first 24 weeks of fiscal 2018 increased 12.0 percent, to $63.40 B from $56.60 B last year.
Canadian sales were up 8.7% for the second quarter compared with the same period last year. In February Canadian sales rose 8% compared with February 2017.
Pre-Thanksgiving and Black Friday holiday weekend sales fell in the first quarter this year versus the second quarter last year, negatively impacting second-quarter sales by 1.4% in the U.S. and slightly less than that worldwide. This also negatively impacted e-commerce sales by 7-8%.
Reporting on the results, Bloomberg noted that while Costco’s same-store sales beat projections, earlier disappointing results from Walmart, Target and other competitors had left analysts hoping for better news from Costco.
“A looming trade dispute, tightening labor markets and e-commerce upheaval have all put investors on edge,” Bloomberg said. “Though Costco has largely been immune to an incursion by Amazon.com Inc., Wall Street has questioned how long that advantage can last.”