Costco’s May comps increase 5%
Same-store sales at Costco’s U.S. stores increased 5% during the four week period ended May 27.
The company said total sales for the May period increased 7% to $7.67 billion, and for the first 39 weeks of its fiscal year were up 10% to $64.75 billion. The U.S. same-store sales figure of 5% was largely unaffected by gas prices that declined from earlier in the year to levels comparable to May 2011. Costco said its average selling price per gallon during May 2012 was $3.84 compared to $3.86 the same month last year. Same-store sales for the 39 weeks were up 7% in the United States, or only 6% if fuel sales are included.
Warehouses in the Midwest, Texas and the Northwest performed the best, according to the company, and customer traffic increased 4% while average transaction sizes were flat.
Internationally, Costco reported a same-store sales increase of 3% that was negatively affected by the strengthening U.S. dollar. On a local currency basis, Costco’s international same store sales increased 8%.
Costco ended May with a total of 602 warehouses comprised of 435 locations in the United States and Puerto Rico, 82 in Canada, 32 in Mexico, 22 in the United Kingdom, 13 in Japan, eight in Taiwan, seven in Korea and three in Australia. The Company plans to open up to an additional six new warehouses prior to the end of its fiscal year on Sept. 2.