Costco continued its run of strong performance on a key sales metric in August, and posted significant growth in its small but expanding e-commerce efforts.
The Issaquah-based warehouse giant saw comparable sales — which includes sales open at stores at least a year as well as online sales — grow 7.3 percent companywide for the four weeks ended Aug. 27. The comparable-store sales grew 7.4 percent in the U.S. and 8.2 percent in Canada.
Excluding the impact of fluctuating gas prices and foreign exchange, Costco saw comp sales growth of 5.9 percent companywide, and 6.1 percent and 4.3 percent in the U.S. and Canada.
Those figures exceeded Wall Street’s expectations of 6.1 percent comparable sales growth companywide including gas and foreign exchange impact, and 5.1 percent excluding those impacts, according to Consensus Metrix.
Costco also reported that comparable e-commerce sales in August were up 26 percent. The company said it had made improvements in its e-commerce efforts, including making search and transactions on its website more user friendly, improving the merchandise selection, decreasing delivery times, and creating more awareness of its website among members.