Costco Wholesale Corporation (NASDAQ:COST) reported a 15% rise in its sales for August, to $13.56 billion.
Figures released Thursday by the Issaquah, Wash.-based bulk retail giant revealed that, for the 16-week fourth quarter ended August 30, the Company reported net sales of $52.3 billion, an increase of 12.7 percent compared to net sales of $46.4 billion during the similar period last year.
For the 52-week fiscal year ended August 30,, the Company reported net sales of $163.2 billion, an increase of 9.2% from the $149.4 billion during the similar period last year.
August sales were negatively impacted by the shift of Labor Day. The estimated negative impact on August net and comparable sales was approximately 75 bps in the U.S., and a little more than 50 bps worldwide.
Meanwhile, media reports have circulated in recent days that Boxed, frequently described as a Costco competitor favored by millennials, may be planning to sell itself or go public.
Boxed, which sells discounted, bulk household items, personal care, groceries, and other product categories without requiring a paid membership, is said to be currently worth somewhere in the ballpark of $1 billion.
Shares picked up $2.38 to $361.24.
