E-commerce sales in July increased by 10.2% year-on-year! Costco is developing strongly!

According to foreign media reports, on August 8, Costco reported that net sales in the four weeks ending July 31 increased by 10.8% year-on-year to US$16.85 billion. The growth rate has slowed down compared with the same period last year. Net sales in the same period last year increased by 16.6% year-on-year to US$15.21 billion.

By business unit, in July, Costco's sales in the U.S. market increased by 11.4% year-on-year (excluding fuel and foreign exchange), sales in the Canadian market increased by 11.7% year-on-year, and sales in other international markets increased by 13.8% year-on-year.

Overall, Costco's business performance in July continued the growth momentum in June. In June, Costco reported a year-on-year increase in net sales of 18.1%. But it is worth noting that the company's sales growth rate in the US market has slowed down. In June, Costco's sales in the US market increased by 21.5% year-on-year.

Costco said the reason for the slower sales growth in the U.S. market was that Independence Day was not on Sunday (last year) but on Monday, which led to a decrease in customer traffic and a direct 2.5% drop in net sales compared to last year.

In addition, in July, e-commerce sales increased by 10.2% year-on-year, higher than the 7% year-on-year growth in June and higher than the 7.4% year-on-year growth in the same period last year. Costco also pointed out that in the past 7 months, net sales reached 205.19 billion US dollars, an increase of 16.4% from 176.3 billion US dollars in the same period last year.

David Sherwood, vice president of Costco's finance and investor department, said that in July, Costco's customer traffic increased by 4.6% globally and 1.6% in the United States. Globally, consumer spending was strongest in Australia, Spain and the United Kingdom; in the United States, it was in the Midwest, San Diego and the Southeast.

It is learned that by category, in July, the sales of food and daily necessities were the main source of Costco's revenue, and the sales of this category showed double-digit growth. In addition, other categories that performed well included toys and seasonal products, garden, tires and sporting goods.

Editor ✎ Nicole/

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