Costco’s May Sales Update

Jun 12, 2024 | Corporate Insights, No Bull Economics

Costco’s impressive 3QFY24 sales growth continued in May, although at a slightly lower rate.

Costco’s Y/Y Sales Growth During May

  • Net sales +8.1% y/y.
  • U.S. comps +5.8%, including +5.1% traffic.
  • E-commerce comps +15.3%.
  • U.S. regions with the strongest comp sales were Texas, the Southeast & Midwest.
  • The average worldwide selling price per gallon of gasoline was up +2.2%.

Category Sales Performance During May

  • Food & sundries: positive mid-single digits (strength in cooler, food & candy).
  • Fresh foods: up high single digits (strength in produce & meat).
  • Nonfoods: positive mid-to-high single digits (strength in jewelry, gift cards, toys & seasonal).
  • Ancillary business: up mid-to-high single digits (strength in pharmacy, food court & optical).

Refer to NoBull’s recent analysis of Costco’s 3QFY24 results here.

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