FX.co ★ Costco Wholesale November Comparable Sales Up 3.1%

Costco Wholesale Corp. (COST) has announced that for the retail month of November, which concluded on December 1, 2024, its overall comparable sales rose by 3.1%. Breaking it down regionally, comparable sales in the U.S. increased by 3.4%, in Canada by 3.7%, and in other international markets by 1.3%. However, E-commerce comparable sales experienced a decline of 3.1%.

This downturn in E-commerce sales for November is attributed to a significant timing factor: the Thanksgiving, Black Friday, and Cyber Monday shopping events occurred a week later this year than in the previous year, negatively affecting E-commerce sales by an estimated 15 percentage points. Consequently, both total and comparable sales were adversely impacted by about one and a half percent due to this shift in E-commerce activity.

When considering monthly total comparable sales, and excluding the variations caused by fluctuating gasoline prices and foreign exchange rates, there was a 4.9% increase.

The company's monthly net sales reached $21.87 billion, marking a substantial 5.6% increase from the prior year's figure of $20.71 billion.