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Costco’s E-commerce Business Experiences Boom
Issaquah-based Costco Wholesale Corp. reported its global e-commerce business experienced a nearly 50% surge in March. The boom occurred over a five-week stretch ended April 5th.
The giant wholesaler reported global net sales of $15.49 billion in March. That represents an 11.7% increase over the same month last year.
Costco’s David Sherwood says, “March sales were significantly impacted by the COVID-19 pandemic. The initial response to the pandemic led to significant sales and traffic increases in our warehouses, as we disclosed last month concerning sales in the last week of February.”
The company recorded $96.25 billion in sales so far in its fiscal year, a 9% increase for the 31-week period that ended April 5. U.S. sales were up 10.7% during the most recent five-week period.
Departments that experienced sales gains included frozen foods, sundries, meat and produce. Among the segments that under-performed were tires, sporting goods, luggage, jewelry, apparel and lawn and garden.
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- ◦Sale/Acquisition
