Costco Wholesale’s same-store sales rebounded in July, snapping a two-month negative streak.
The Issaquah, WA-based retailer said that comparable-club sales rose 2.5 percent in July and were up 5 percent, excluding changes in gas prices and foreign exchange (FX) rates. The result reversed from a 1.4 percent comp-sales decrease (+3 percent excluding fuel and FX) for June to a 0.3 percent comp-sales decrease (+3.3 percent excluding fuel and FX) in May.
Costco’s July gain was built on a 10 percent jump (+7 percent excluding fuel and FX) in July 2022. Sales reached $17.60 billion for the retail month of July, the four weeks ended July 30, 2023, an increase of 4.5 percent from $16.85 billion last year.
For the forty-eight weeks ended July 30, 2023, Costco reported net sales of $214.53 billion, an increase of 4.6 percent from $205.19 billion during the similar period last year.
Overall comparable-club sales rose 3.0 percent in July and were up 5.3 percent, excluding changes in gas prices and foreign exchange (FX) rates.
Photo courtesy Costco
