Costco Wholesale (COST) Monthly Sales Update June 2024 summary

Sales performance

• Net sales for June reached $24.48 billion, up 7.4% from last year.

• Net sales for the first 44 weeks totaled $210.55 billion, a 6.9% increase from last year.

• Total comparable sales rose 5.3%, with e-commerce up 18.4%.

• Excluding gas and FX, total comparable sales increased 6.9%, and e-commerce rose 19.1%.

• Comp traffic grew 6.6% worldwide and 5.9% in the U.S., while average worldwide transaction value declined 1.2%.

Regional and category highlights

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

• Best international results: Mexico, Australia, and Korea.

• Food and sundries grew mid-single digits; fresh foods up mid- to high-single digits.

• Non-foods rose low double digits, led by jewelry, gift cards, toys, and seasonal.

• Ancillary businesses up low single digits, with pharmacy, food court, and optical leading.

Membership fee and dividend update

• Annual membership fees in the U.S. and Canada will increase by $5 to $65, effective September 1, 2024.

• Executive Membership annual fee will rise from $120 to $130, with the 2% reward cap increasing to $1,250.

• Fee changes affect about 52 million paid memberships, over half Executive.

• P&L benefit from fee increase will be recognized over FY 2025 and FY 2026.

• Quarterly cash dividend of $1.16 per share declared, payable August 9, 2024.