Costco Wholesale Corporation (NASDAQ:COST) reported net sales of $22.78B for the retail month of June, +20.4% Y/Y.
Comparable sales up 18.1% with e-commerce sales +7%.
On YTD basis, net sales grew 16.9% Y/Y to $188.34B and comp sales grew 15%.
Excluding the impacts from changes in gasoline prices and foreign exchange, comparable sales for the month increased 13%.
https://seekingalpha.com/news/3855281-costco-wholesale-june-…
I was in there a few days ago, and just as busy as ever. And the gas lines are longer, probably because they are the cheapest with a several mile radius.
After a rocky start at the beginning of COVID, I also am pleased to see their online shopping experience has improved substantially.
They seem to be doing everything right.
1poorguy (long COST)
After a rocky start at the beginning of COVID, I also am pleased to see their online shopping experience has improved substantially.
I am getting buried in Costco email advertising, mainly for stuff that is too big to haul home in a car (some of which is in the stores despite that). My impression is that they have made a major push to expand their online sales, and in the process expanded their selection of bulkier / heavier items. When I wanted a 65" TV a few years ago I ordered it online to avoid trying to carry it home. Earlier this year I bought a washing machine from the selection on their web site.
Decent Yahoo commentary on Costco’s latest numbers:
https://www.youtube.com/watch?v=ALfVibOua_k
Customer continues to:
Access the cheapest gas at Costco.
After filling up their tank, they do their shopping at Costco thereby saving gas.
Costco appears to be gaining market share.
Oh, and you can still buy a hot dog and Coke with free refills for $1.50.