Costco looks to have benefitted from Black Friday spending with an acceleration in sales growth this month.
The warehouse club operator’s total sales total sales rose 5.1% to $20.14bn during the four weeks to 26 November.
Group comparable sales (excl. fuel and current exchange) were up 4.4%, compared with a 3.4% rise the month before.
In its 592 US outlets, comparable sales growth improved from 2.2% to 3.0%, with analysts suggesting that the Thanksgiving holiday and Black Friday deals may have helped boost demand.
There was also better performance in Costco’s international markets, with its 108 stores in Canada seeing sales rise by 7.9%. Meanwhile, its 163 warehouses across Europe and Asia (including 29 in the UK) saw comparable sales increase by 8.8%.
The group’s e-commerce unit also appears to have benefitted from Black Friday activity, with its sales growth accelerating from 3.1% in October to 9.8% in November.
Back in August, it was revealed that Costco is planning to open as many as 14 more warehouses across the UK over the next two years.
NAM Implications:
- One of the few retailers reporting Black Friday sales increases…
- Begging the question: how did your Costco sales compare?
