Costco Says August Sales Up 15% to Almost $14 Billion

By Micah Maidenberg

Costco Wholesale Corp. said Thursday it generated $13.56 billion for its August selling month, up 15% versus the same period last year.

For the 16-week quarter that ended Aug. 30, sales totaled $52.3 billion, 13% ahead of last year's tally.

And for the 52-week-long stretch that ended Aug. 30, sales were up 9% at $163.2 billion.

Costco, along with Walmart Inc. and Target Corp., are among the retail chains that have gained ground during the Covid-19 pandemic, locking in stronger customer demand as shoppers bought more food to cook, various staples and home goods.

Comparable sales, stripping out gas sales and currency fluctuations, for ecommerce more than doubled during the month-long August period, while they jumped 50% for the year-long stretch that ended Aug. 30.

August sales were hurt by the timing of the Labor Day holiday in the U.S., the company said.

Costco currently has 795 warehouse stores, including 552 in the U.S. and Puerto Rico.

Write to Micah Maidenberg at [e-mail]

(END) Dow Jones Newswires

September 02, 2020 16:48 ET (20:48 GMT)

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