Costco Wholesale (COST) has reported that its sales rose 8.1% in May from a year earlier to $19.60 billion U.S.
On a sequential month-over-month basis, Costco’s sales increased from April when the company reported 7.1% growth and revenue of $19.80 billion U.S.
Management said the sales growth continues to be driven by e-commerce, with online sales rising 15.3% year-over-year in May.
In-person same-store sales during May climbed 6.4% higher from a year ago after rising 5.6% in April. Costco is one of the few companies that still reports monthly sales figures.
On May 30, the warehouse club reported its latest quarterly results that showed revenue of $57.40 billion U.S. for the first three months of the year, a 9.1% year-over-year increase.
Earnings for the quarter came in at $3.78 U.S. a share, beating consensus analysts’ estimates of $3.70 U.S.
Costco’s stock has gained 28% so far in 2024 and is up 62% in the last 12 months. The shares currently trade at $834.30 U.S. each.
