Costco Wholesale Corporation Reports $9 Billion Quarterly Sales Boost
ISSAQUAH, WA - Retail chain Costco has had a flurry of developments take place over the last few months in terms of growth. From opening new warehouses in several markets to expanding self-service stations across the country, Costco is not one to slow down. All of which leads to a major increase in sales revenue, which clearly shows in the retailer’s latest financial report.
In a recent release, the retailer reported net sales of $15.75 billion for the retail month of August, an increase of 16.2 percent from $13.56 billion last year, which is roughly similar to the retailer’s July Results report.
As noted in the release, the retailer’s fourth quarter and fiscal year ended on August 29, 2021. The company reported a 17.4 percent increase in its quarterly net sales compared to a similar period from last year, jumping from $52.3 billion to $61.4 billion, a more than $9 billion boost to its quarterly sales.
Overall, the retailer saw a 17.7 percent increase in its 52-week fiscal year. During a similar period for its 2020 fiscal year, Costco saw an increase from $163.2 billion to $192.1 billion. Additionally, the retailer saw a 42.6 percent increase in its e-commerce, proving consumers are still opting for online and grocery delivery during these times.
For more information on Costco’s financial results, click here.
ANUK will keep our nose to the wire as retailers continue to pivot and expand their hold on the market, so stay tuned.