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Costco's September sales up nearly 16%

Claudia Assis

Costco Wholesale Corp.'s September sales rose 15.8% to $19.5 billion, from $16.8 billion a year ago, the retailer said late Wednesday.

Costco (COST) said its same-store sales increased 14.3%, with e-commerce sales ticking 10.6% higher.

That September sales increase compares with an increase of 16.6% for July sales and 16.2% for August sales.

Costco shares edged higher in the extended session Wednesday after ending the regular trading day up 0.7%.

The retailer said last week it was back at limiting purchases of toilet paper, some cleaning supplies and other sought-after items thanks to an uptick in demand related to the delta variant.

It has been experiencing the same supply-chain shortage and delays plaguing other companies, it said.

The company reported rising fiscal fourth-quarter sales and profit.

While higher demand for its bulk buys have helped the retailer during the pandemic, costs, particularly those related to wages and public-health requirements, have also escalated.

Costco shares have gained about 19% this year, compared with an advance of around 16% for the S&P 500 index.

-Claudia Assis

 

(END) Dow Jones Newswires

10-07-21 0813ET

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