Retail

Costco’s November ‘Month For The Ages’

Citigroup Pledges Fix For Costco

Brick-and-mortar bulk retailer Costco Wholesale is reporting double-digit growth for the month of November, marking the 14th month in a row of increased sales, according to Thursday (Nov. 30) reports from retail news source Chain Store Age.

“[Costco] turned in a month for the ages in the current retail environment,” noted Ken Perkins, analyst for industry research firm Retail Metrics, Inc.

Net Costco sales came in at $11.26 billion for November, up 13.2 percent from the $9.95 billion it posted a year ago. The company also reported increases in online sales, up 39 percent overall and representing a 44 percent increase during the 12-week period ending Nov. 26. Costco credits faster delivery times and a greater inventory of merchandise for the improved numbers.

Costco’s customer traffic in its U.S.-based brick-and-mortar stores also saw a 5.9 percent improvement last month, with additional growth in both soft line, hardline, sundries and food inventory categories.

In other metrics, Costco’s same-store sales came in at their highest monthly gain since September 2011, with a record 10.8 percent growth. Comparatively, same-store sales in the U.S. were up 8.4 percent and Canada saw 6.3 percent growth — excluding gasoline and foreign exchange fluctuation impacts.

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