Costco Wholesale Corporation has reported its net sales for the retail month of March, which ended on April 7, 2024, at $23.48 billion. This represents a significant increase of 9.4 percent from the $21.46 billion reported for the same period last year. Additionally, the company's net sales for the first 31 weeks of the year were $146.64 billion, marking a 6.4 percent rise from the $137.77 billion reported last year.
When examining comparable sales for the periods ended April 7, 2024, Costco's performance is as follows: U.S.: 7.3% for the five-week period and 3.8% for the 31-week period Canada: 8.9% for the five-week period and 8.1% for the 31-week period Other international locations: 8.6% for the five-week period and 9.6% for the 31-week period Total company: 7.7% for the five-week period and 5.2% for the 31-week period * E-commerce: 28.3% for the five-week period and 14.8% for the 31-week period
Furthermore, when excluding the impacts from changes in gasoline prices and foreign exchange, the comparable sales figures are as follows: U.S.: 7.4% for the five-week period and 4.3% for the 31-week period Canada: 7.3% for the five-week period and 8.5% for the 31-week period Other international locations: 8.4% for the five-week period and 7.9% for the 31-week period Total company: 7.5% for the five-week period and 5.3% for the 31-week period * E-commerce: 28.0% for the five-week period and 14.5% for the 31-week period
It's worth noting that the retail month of March this year was positively impacted by the shift in the timing of Easter, which boosted total and comparable sales by approximately one-half percent.
In addition to its sales performance, Costco announced an increase in its quarterly cash dividend on common stock from $1.02 to $1.16 per share, which equates to $4.64 on an annualized basis. The dividend is set to be payable on May 10, 2024, to shareholders of record at the close of business on April 26, 2024.
Costco currently operates 876 warehouses, including locations in the United States, Canada, Mexico, Japan, the United Kingdom, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden. The company also runs e-commerce sites in several countries, including the U.S., Canada, the U.K., Mexico, Korea, Taiwan, Japan, and Australia. The market has reacted to these announcements by moving the company's shares 0.4% to a price of $725.6. If you want to know more, read the company's complete 8-K report here.
