Overview
- Costco reported $28.41 billion in net sales for the five weeks ended April 5, up 11.3% from a year ago, as comparable sales rose 9.4% and digitally enabled sales jumped 23.3%.
- Excluding swings in gasoline prices and foreign exchange, comparable sales increased 6.2% for the month, pointing to solid underlying demand.
- The company said Easter’s timing removed one shopping day versus last year, which it estimated reduced total and comparable sales growth by about 1.5 percentage points.
- Analysts said higher pump prices drew more drivers to Costco gas stations, boosting store traffic and lifting ancillary businesses such as pharmacy, eye care, and the food court into mid‑20% growth.
- Shares moved up after the report, though notes from firms like Truist praised execution but cautioned that a high price-to-earnings multiple could limit near-term upside.