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Costco receives a charge in December
Sales were up, especially in fresh foods
1 Min Read
E-commerce was a major driver for Costco in December with a 17.7% bump year over year.Getty Images
December was a good month for Costco, as the warehouse retail giant recorded a 10% increase in year-over-year net sales, reports Yahoo Finance.
E-commerce was a major driver with a 17.7% bump year over year. Same sales growth in the U.S. was up 7.3% in December and 12.8% in Canada.
Breaking it down even further, fresh foods, especially bakery, did particularly well during the final month of 2023, registering sales growth in the high single digits.
Back in December, Costco announced it posted higher profit in its fiscal first-quarter. The company reported net sales of $56.72 billion, an increase of 6.1% from $53.44 billion for the first quarter of fiscal year 2023, ending November 20, 2022.
Net income for the quarter was $1.6 million, $3.58 per diluted share, compared to $1,364 million, $3.07 per diluted share, last year.
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