Costco Wholesale Corporation Reports Sales Acceleration
- by Lilian Diep
ISSAQUAH, WA - Costco Wholesale Corporation has been on a fast-track to growth and success as of late. In 2020 alone, the wholesaler has nabbed acquisition after acquisition, expanded in several new markets in the states and Canada, and has made multiple investments into the community. All the hustle and bustle from the retailer has led Costco to report net sales of $13.82 billion for the retail month of October, the four weeks ended November 1, 2020, an increase of 15.9 percent from $11.92 billion last year.
According to its release, for the nine weeks ending on November 1, 2020, the company reported net sales of $30.66 billion, an increase of 16.4 percent from $26.33 billion last year.
For the four weeks ending on November 1, 2020, Costco’s report listed the wholesaler’s comparable sales, excluding the impacts from changes in gasoline prices and foreign exchange, as follows:
- The U.S. - a 16.4 percent change
- Canada - a 15.2 percent change
- Other International - a 19.0 percent change
- Total Company - a 16.5 percent change
- E-commerce - a 91.0 percent change
The wholesaler currently operates 800 warehouses, including 556 in the United States and Puerto Rico; 102 in Canada; 39 in Mexico; 29 in the United Kingdom; 27 in Japan; 16 in Korea; 13 in Taiwan; 12 in Australia; three in Spain; and one each in Iceland, France, and China. Costco also operates e-commerce sites in the U.S., Canada, the United Kingdom, Mexico, Korea, Taiwan, Japan, and Australia.
With more consumers shopping and cooking at home, it’s no wonder Costco’s e-commerce has seen a major uptick. Costco is paying heed to rising demands and has bolstered its partnership network with Instacart and has even brought same-day delivery to Canada.
As Costco continues to be a driving force in the retail landscape, ANUK will report on the latest.