Costco Wholesale Corporation Reports April Sales Results Of $19.80B; Net Sales For The First 35 Weeks Were $166.44B
Portfolio Pulse from Benzinga Newsdesk
Costco Wholesale Corporation (NASDAQ:COST) reported a 7.1% increase in net sales for April 2024, reaching $19.80 billion, compared to $18.48 billion the previous year. For the first 35 weeks, sales rose 7.0% to $166.44 billion from $155.62 billion. Comparable sales growth was noted across the U.S., Canada, and other international markets, with e-commerce showing significant growth. The timing shift of Easter negatively impacted sales by over 0.5%.
May 08, 2024 | 10:33 pm
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Costco reported a 7.1% increase in April sales to $19.80 billion and a 7.0% increase in year-to-date sales to $166.44 billion, with notable growth in e-commerce and across all regions despite a slight negative impact from Easter's timing shift.
The reported increase in sales for both the month of April and the year-to-date, along with significant growth in e-commerce, indicates a positive performance trend for Costco. The slight negative impact from the timing of Easter is considered minor and does not significantly detract from the overall positive sales results. This performance is likely to be viewed favorably by investors, suggesting a potential positive short-term impact on Costco's stock price.
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