Costco Wholesale Corporation Reports October Sales Results

Costco Wholesale Corporation reported net sales of $21.46 billion for the retail month of September, the five weeks ended October 2, 2022, an increase of 10.1 percent from $19.50 billion last year.

*Net sales of $8.1 billion, down 1.7% versus the fourth quarter of 2022. Digital sales decreased 4% versus the fourth quarter of 2022. Brick-and-mortar sales were roughly flat versus the fourth quarter of 2022.*Comparable sales, on a 13-week basis, were down 5.4% on an owned basis and down 4.2% on an owned-plus-licensed basis. *Highlights of the company's nameplates include: Macy’s comparable sales, on a 13-week basis, were down 6.0% on an owned basis and down 4.7%, on an owned-plus-licensed basis. *Bloomingdale’s comparable sales, on a 13-week basis, were down 1.5% on an owned basis and down 1.6% on an owned-plus-licensed basis. *Bluemercury comparable sales, on a 13-week basis, were up 2.3% on an owned basis. *Gross margin for the quarter was 37.5%, up from 34.1% in the fourth quarter of 2022.

According to the latest Signifyd E-commerce Pulse data for July 2024, online spending continued the growth trend seen in June, but shifted toward lower-cost items and alternatives as the fastest year-over-year growth (17.7%) was in orders under $100. Meanwhile, purchases above $500 were nearly flat with 1.5% year-over-year growth. Overall online spending was up 10% year-over-year, and the number of e-commerce orders increased 15% but average order value was down 4% compared to July 2023, which Signifyd said signals caution among consumers.