Retail Giant Costco Posts 9.9% Jump in December Sales
Portfolio Pulse from Shivani Kumaresan
Costco Wholesale Corporation (NASDAQ:COST) reported a 9.9% increase in December sales to $26.15 billion and a 5.9% increase in sales to $82.86 billion for the seventeen weeks ended December 31, 2023. U.S. comparable sales grew by 7.3%, while Canada and Other International saw higher growth rates. The fiscal calendar shift negatively impacted net sales by up to 1%. An additional shopping day in December contributed 3% to total sales. COST shares closed up by 0.57% at $648.35.
January 05, 2024 | 10:55 am
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Costco reported strong sales growth for December and the seventeen-week period, with a 9.9% and 5.9% increase respectively. The additional shopping day in December and consistent growth across regions are positive indicators.
The reported increase in sales is a strong positive indicator of Costco's performance, likely to instill investor confidence and potentially lead to a short-term increase in stock price. The positive sales data, along with the slight increase in share price on the day of the announcement, suggests that the market is reacting favorably to the news.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100