Strong holiday shopping drove Costco Wholesale’s (COST) revenue up 9.9% from a year earlier to $26.2 billion U.S. in December.
Costco’s sales in December were nearly double the 5.1% revenue increase seen in November of last year, said the Seattle-based company.
Same-store sales gained 8.5% in December from a year ago, which was more than double the 3.5% growth seen in November. Costco reports its sales figures on a monthly basis.
The company attributed the strong sales in December to robust holiday shopping, noting that foot traffic at its stores increased 6.5% in the U.S. and 7.5% globally.
While food was the category with the most sales in December, gifts cards and jewelry were also big sellers in the final month of 2023.
E-commerce sales at Costco, which are dominated by discretionary items, surged 17.7% in December.
Costco’s stock has gained 44% over the last 12 months and currently trades at $648.35 U.S. per share.
