Costco reported $24.50 billion in net sales for its four-week October retail period through Sunday, Nov. 1, up 12.6% year over year as sales growth continued into the first nine weeks.
The total compared with $21.75 billion in the same retail period a year earlier. Across the first nine weeks, net sales reached $54.52 billion, up 12.8% from $48.33 billion.
Comparable sales increased 11.1% companywide in the four-week period. By region, they were up 12.6% in the United States, 4.9% in Canada and 9.4% in other international markets. After adjustments for gasoline-price changes and foreign exchange, the companywide increase was 7.3%; the corresponding rates were 8.1% in the United States, 3.5% in Canada and 6.9% in other international markets.
For the nine-week period, comparable sales rose 11.3% overall, including 12.5% in the United States, 5.7% in Canada and 10.2% in other international markets. Excluding gasoline-price and foreign-exchange effects, nine-week comparable sales gained 7.5% overall; regional rates were 8.1%, 4.3% and 7.4%, respectively. These adjustments remove the effects of price changes at the pump and currency movements from the comparison.
Sales initiated on digital devices rose 22.5% year over year in October. Costco’s definition covers orders started digitally and fulfilled through its warehouses, distribution centers or Costco Travel. The measure climbed 20.5% across the first nine weeks; excluding foreign-exchange effects, the increases were 22.6% and 20.6%, respectively.
The October results followed the company’s prior five-week period, when net sales totaled $30.02 billion, up 13% year over year, as detailed in Costco’s prior five-week sales report.
Costco says its comparable-sales figures, including rates that exclude gasoline-price and foreign-exchange effects, are supplemental measures and do not replace net sales reported under U.S. generally accepted accounting principles.
A prerecorded discussion of the results will remain available on Costco’s investor relations site through 7 p.m. ET (4 p.m. PT) Wednesday, Nov. 11.
