Costco Wholesale (COST) Monthly Sales Update July 2024 summary

Sales performance overview

• Net sales for July reached $19.26 billion, up 7.1% from $17.99 billion last year.

• Comparable sales for July rose 5.2% overall, with U.S. up 5.3%, Canada 6.3%, and Other International 3.7%.

• E-commerce comparable sales surged 20.2% in July.

• Excluding gasoline and FX, total company comparable sales increased 8.9% in July.

• Net sales for the first 48 weeks totaled $229.81 billion, a 7.1% increase year-over-year.

Impact of external factors

• Foreign currency fluctuations negatively impacted sales, reducing Canada by 4.2%, Other International by 5.5%, and total company by 1.4%.

• Gas price deflation reduced total reported comparable sales by 0.6%.

• Average worldwide selling price per gallon fell 4.5% year-over-year.

• Average worldwide transaction value declined 1.0%, reflecting gas and FX impacts.

Regional and category highlights

• U.S. comparable sales excluding gas and FX rose 6.3% in July; Canada up 10.2%, other international up 8.3%.

• Strongest U.S. regions: Northeast, Midwest, and Texas.

• Best international results in Mexico, Australia, and Spain.

• Foods and Sundries grew mid-single digits, with Cooler, Frozen, and Sundries leading.

• Fresh Foods rose high single digits, led by Produce and Meat.