Costco Canada January sales up 6.2%

Canada led sales growth in January for Costco Wholesale Corp. climbing 6.2 per cent for the five week reporting period ending February 4, 2024. Comparable sales for the country were 6.6 per cent. U.S. sales increased 1.5 per cent and 2.2 per cent respectively.

Costco reported net sales of $22.08 billion for the retail month of January, an increase of 4.5 per cent from $21.13 billion last year.

E-commerce sales surged 21 per cent during the five week period.

The financial report followed news from Tuesday that longtime Costco chief financial officer Richard Galanti had “confirmed” his plan to step down in March 2024, and that the board had named former Kroger Co. CFO Gary Millerchip as the company’s new CFO upon Galanti’s departure.