January was good to Costco

Costco is coming off a successful January, reports MarketWatch.

Sales for the warehouse retailer during the first month of the year were 4.5% higher than January 2023 at just over $22 billion. 

However, it was not enough to top a holiday shopping-crazed December, which sold more than $26 billion in goods. 

Same-store sales in January were almost 3% higher year over year, and ecommerce sales spiked 21%. 

Earlier this week, longtime Costco CFO Richard Galanti confirmed his retirement in March, and Costco wasted little time in finding his replacement, naming former Kroger CFO Gary Millerchip to the position. 

Galanti has been with Costco for almost 40 years and will stay on in a supervisory role through January 2025.