Online business grows rapidly, Costco's quarterly sales reach nearly $43.9 billion

Recently, Costco , the largest chain membership warehouse store in the United States, released its second quarter performance report for fiscal year 2021. The quarterly data showed that fresh food and groceries were among the commodity categories with strong monthly performance .

Costco's quarterly sales near $43.9 billion

In the second quarter of fiscal 2021 , which was the 12 weeks ending February 14 , Costco's revenue was US$44.769 billion, up 14.58% from US$39.072 billion in the same period last year . Its revenue in the previous quarter was US$43.208 billion .

Costco's net sales increased 14.7% to $43.89 billion from $38.26 billion in the same period last year . Membership fee revenue increased 8% to $881 million as the number of member households increased to 59.7 million from 59.1 million in the same period last year .

Richard, Executive Vice President and CEO of Costco   “Looking at our second quarter comparative sales metrics, our traffic or shopping frequency grew 1% globally and 2.7% year-over-year in the U.S.,” Galanti said . “Our average transaction value grew 11.9% companywide and 8.5% in the U.S..”

Global expansion provides Costco with continued growth momentum, and the sales growth is the result of favorable sales in multiple countries .

E-commerce sales increased by 75.8%

Meanwhile, Costco's strong second quarter was in e -commerce , where sales grew 75.8% . " Total online grocery growth was very strong in the second quarter , and that number doesn't include Costco's third-party same-day grocery program, which grew 450% year-over-year in the second quarter , " Galanti said.

Beyond that, Costco is seeing particularly strong online sales in categories like pharmacy, garden and patio, small appliances, health and beauty, and consumer electronics.

Costco only recently began testing curbside pickup at three of its stores in Albuquerque, New Mexico , and Galanti reported on the call that the test, which launched in January, is going well.

Recently, Costco also announced that it will permanently increase its starting wage of $1 per hour in the United States and Canada , and increase hourly wages by 45 cents on the basis of the previously planned 55 cents per hour . The entry-level hourly wages will increase from $15 and $15.50 per hour to $16 and $16.50 per hour.

Overall, Costco's second quarter financial situation was relatively good , and e-commerce also made great progress.

Costco

E-commerce

Online Sales