Fred’s heading into the holidays behind 15% September growth
Costco reports September sales results
ISSAQUAH, Wash. — Costco on Wednesday reported its September sales figures, which saw the company’s American stores showing positive growth as its Canadian and international store comparable sales dropped, resulting in no net change in net sales over the same time last year.
Net sales for the five weeks ended Oct. 4 hit $10.75 billion, an increase of 2% over the same period last year, which saw sales of $10.57 billion. The company reported a 3% increase in U.S. comps, as well as a 10% drop in Canadian comps and a 6% drop in international comps. Gas price deflation and foreign exchange seem to be having the biggest impact on international operations, given that excluding these factors, Canadian comps rose 10% and international comps rose 8%.
The company said that it planned to open 12 new warehouses, which includes one relocation, by the end of 2015.