Costco's September Sales Rise 9%, Driven by U.S. Gains and E-commerce surge
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ISSAQUAH, Wash. Costco (COST, Financial) reported a 9% year-over-year bump in sales, reaching $24.62 billion, up from $22.59 billion in the prior-year period. The discount retailer also posted a 6.7% jump in comparable sales, with gains reported across its U.S. operations and e-commerce platform, reported on Wednesday, Oct. 9.
Ignoring the impact of gasoline prices and foreign exchange, Costco's total comparable sales increased a healthy 8.9% in September. U.S. comparable sales rose by 6.5% and by 9.3% when eliminating the impact of gas prices and foreign exchange effects. eCommerce sales soared, with a stellar 22.9% boost in the period.
Moreover, Costco noted that sales rounding off the final week of September saw a stellar uptick due to irregular consumer activity driven by Hurricane Helene and port strikes, contributing roughly 2% to U.S. sales and 1.5% to global sales.
Overall, Costco remains in excellent financial health, boasting an 8 out of 10 for financial strength and 9 out of 10 for profitability from GuruFocus. Additionally, with a momentum rating of 9 out of 10, the stock is moving swiftly, offering its investors robust gains in the process.
This article first appeared on GuruFocus.