Costco reports slight drop in comparable sales for May
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Costco Wholesale Corporation (NASDAQ:COST) reported sales growth 1.2% for the retail month of May to $18.45B.
Comparable sales fell 0.3% during the month vs. +0.5% consensus, inclusive of a 1.5% decline in the U.S. and 5.5% gain for the international business. E-commerce sales fell back 7.6% during the month.
Comparable sales excluding the impacts from changes in gasoline prices and foreign exchange were up 3.3%, inclusive of a 1.7% rise in the U.S. to match the consensus expectation and 6.4% jump for the international business.
Costco (COST) noted it currently operates 853 warehouses, including 587 in the United States and Puerto Rico, 107 in Canada, 40 in Mexico, 32 in Japan, 29 in the United Kingdom, 18 in Korea, 14 in Taiwan, 14 in Australia, four in Spain, three in China, two in France, and one each in Iceland, New Zealand and Sweden. Costco also operates e-commerce sites in the U.S., Canada, the U.K., Mexico, Korea, Taiwan, Japan and Australia.
Shares of Costco (COST) fell 0.90% in postmarket trading.