Retail Giant Costco Posts 9.9% Jump in December Sales

Costco Wholesale Corporation COST reported a 9.9% year-on-year increase in retail sales to $26.15 billion for the five weeks ended December 31, 2023.

Comparable sales growth for the period was 8.5% with 7.3% in the U.S., 12.8% Canada and 10.5% in Other International.

For the seventeen weeks ended December 31, 2023, the company recorded a 5.9% growth in sales to $82.86 billion from $78.26 billion last year.

Net sales for the seventeen weeks were negatively impacted by approximately one-half to one percent from the fiscal calendar shift, as a result of the fifty-third week in fiscal year 2023.

Comparable sales for the seventeen-week period was 5.2%, with 3.6% in the U.S., 8.3% in Canada, and 10.9% in Other International.

The 2023 retail month of December had one additional shopping day due to the timing of New Year's Day which benefitted total sales by 3%.

Price Action: COST shares closed higher by 0.57% at $648.35 on Thursday.

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