Costco announces August financial results, e-commerce sales surge 22.9%

It is learned that according to foreign media reports, the US retail giant Costco announced its financial results for August. In the four weeks ending September 1, Costco's revenue increased by 7.1% year-on-year to US$19.83 billion, higher than last year's US$18.51 billion.

Here is a summary of Costco's financial results for August:

Revenue was $19.83 billion, up 7.1% year-on-year

Total comparable sales increased 5%, with the U.S. up 4.7% and Canada up 4.5%.

International comparable sales increased 7.5% and e-commerce comparable sales increased 22.9%

U.S. traffic up 6%, global traffic up 6.6%

The report pointed out that Costco's non-food merchandise grew at a low double-digit rate for the third consecutive month in August, with jewelry, gift cards and sporting goods seeing the largest increases, and groceries increasing by mid-single digits. Jefferies analyst Corey Tarlowe said that Costco's marketing activities such as discounted gift cards contributed to the significant improvement in non-food category trends.

In addition, Costco was able to maintain its strong momentum in August, thanks to its value proposition that continues to attract price-conscious consumers. It is expected that the strong revenue momentum will continue for the rest of the year, driven by its excellent marketing capabilities and unique value proposition.

In early September, Costco raised membership fees in the United States and Canada for the first time since June 2017, from $60 to $65 per year.

Author ✎ Rayna/

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