Costco's e-commerce sales in December increased 17.8% on a comparable basis for the month.
Following a positive first quarter that ended Nov. 21, 2021, Costco Wholesale Corp. is continuing its momentum with sales increasing for the retail month of December. The retailer reported net sales of $22.24 billion for the five weeks ended Jan. 2, 2022, an increase of 16.2% from $19.14 billion last year.
December comp sales rose 15.9% in the United States and 16.5% in Canada. Meanwhile, e-commerce sales increased 17.8% on a comparable basis for the month.
For the 18 weeks ended Jan. 2, 2022, the company reported net sales of $76.34 billion, an increase of 16.6% from $65.47 billion last year.
Despite these challenges, Costco saw Q1 net income of $1.324 billion, or $2.98 per diluted share, compared with $1.166 billion, or $2.52 per diluted share, last year. Net sales for the quarter increased 16.7% to $49.42 billion, up from $42.35 billion a year earlier in the first quarter. Same-store sales for the first quarter were 9.9%, excluding gas inflation and the impacts of currency fluctuations.