Friday, March 6, 2020

Costco sales jump in Q2, with coronavirus fears lifting February results

Supermarket News
Sales surged by double digits at Costco Wholesale in the fiscal 2020 second quarter, including strong comparable-sales gains that ballooned toward the end of February as consumers flocked to stores to stock up on coronavirus-related supplies.

For the 12 weeks ended Feb. 16, net sales climbed 10.5% to $38.26 billion from $34.63 billion a year earlier, Costco reported late Thursday. Membership fee income grew 6.3% to $816 million.

Overall comparable sales rose 8.9% in the second quarter, reflecting increases of 9.1% in the United States, 8.9% in Canada and 7.9% internationally.. . . more