Retailer Costco Wholesale Corporation (Costco) has reported net sales of US$7.33bn for the month of June (the five weeks ended 4 July 2010), an increase of 7 per cent from US$6.87bn in the same five-week period last year.
Despite the slower growth in sales as the US economy continues to get back on its feet, the food category performed well, according to David Sherwood, Costco’s director of investor relations.
In fresh produce, Mr Sherwood said sales rose by low single digits in dollar and volume terms, adding that it was a “good month” for blueberries, strawberries and oranges.
This year’s five-week period included 33 days in the US versus 34 days last year (due to the shift in the Memorial Day holiday) which the retailer claimed negatively impacted this year’s total and comparable sales by approximately 2 per cent (2-3 per cent in the US).
For the 44 weeks ended 4 July 2010, Costco reported in a statement net sales of US$64.50bn, an increase of 9 per cent from US$59.02bn during the similar period last year.
Costco said sales at US stores (which have been open at least one year), excluding gasoline, rose 1 per cent during the five weeks ended July 4 compared with the same period in 2009.
Sales at international stores rose by 8 per cent during the same period.
Costco currently operates 569 warehouses, including 415 in the US and Puerto Rico, 78 in Canada, 21 in the UK, seven in Korea, six in Taiwan, nine in Japan, one in Australia and 32 in Mexico.
The company plans to open up to three additional new warehouses prior to the end of its fiscal year on 29 August 2010.
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