Breaking Stories

: Costco says May sales up 24%, but pace of online sales growth slows

0

Costco Wholesale Inc.’s sales rose 24% to $15.59 billion in May, with online sales growing a relatively tame 12% in the month, the retailer said late Thursday.

Costco
COST,
+0.86%

shares edged lower in the extended session Thursday after the news. The stock ended the regular trading day up 0.9%. It has gained 1.9% so far this year, compared with gains of around 12% for the S&P 500 index
SPX,
-0.36%
.

Same-store sales rose 23%, the company said. The month had an additional shopping day, Costco said.

During the height of stockpiling amid pandemic-related shutdowns and stay-at-home health orders, Costco’s online sales skyrocketed, although the boosts were occasionally not enough to offset losses from closed brick-and-mortar stores and lost sales for its travel business, food courts and departments such as optical and photo.

NewsWatch: Let the crypto price wars begin, as Robinhood touts ‘commission free’ trade vs. Coinbase rivals

Previous article

The Wall Street Journal: Pennsylvania Republicans appear to like what they see in ongoing Arizona audit of 2020 election

Next article

You may also like

Comments

Leave a reply

Your email address will not be published. Required fields are marked *